Howes Percival has advised The Pocket PubCo Limited on its acquisition of Saxmundham-based pub, The Poacher’s Pocket.
The owners of The Pocket PubCo Limited were looking to develop their family-run pub business after successfully transforming The Fox Inn in the nearby village of Darsham last year, and hope to breathe new life into the Poacher’s Pocket this summer.
Both pubs offer a range of food and drink options from a variety of local suppliers, and the new owners are keen to bring ‘a little something different’ to the picturesque village location.
The property and business purchase was led by Scott Smith, a licensed premises specialist in Howes Percival’s Commercial Property team. Howes Percival assisted with the negotiation of the sale documents, advising on title issues, employment matters and the transfer of the business assets, goodwill and premises licence as well as co-ordinating completion and assisting with tax considerations.
Scott Smith commented:
“It was a pleasure to act for the Pocket PubCo Limited on this purchase; it’s so rewarding to assist family run businesses like them which make up a significant proportion of Howes Percival’s client base. Pub purchases can be complicated transactions - tying in business, property and employment elements, but having the right expertise on board from the start can help pick up on key considerations early and ensure a smooth purchase or new lease.
Despite a challenging 18 months for the leisure and tourism sector, we continue to see entrepreneurs and businesses making it work in the right locations. This transaction follows an equally successful takeover of a pub in Cambridge which I acted on late last year.”
For more information about Howes Percival’s leisure and tourism sector, click here.