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FBC Manby Bowdler Advises on Housing Development Purchase- 04/05/2010
West Midlands’ law firm FBC Manby Bowdler LLP has helped to get a stalled housing development moving again by advising on the acquisition of the freehold of a partly finished residential development in Willenhall, whose owner had become bankrupt.
Charan Thiara, an associate in FBC Manby Bowdler’s Wolverhampton Commercial Property Department, advised Darlaston-based DBM Investments on the £1.5 million purchase of a courtyard development of 34 partially completed apartments at the Portobello Development on School Street in Willenhall from the LPA Receivers.
DBM Investments will complete the work on the mix of new-build and converted apartments at Portobello before putting them on the market.
In addition to dealing with very tight timescales imposed by the LPA Receivers and their agents, which resulted in a contract race situation, FBC Manby Bowdler also advised on the warranty status of the development and liaised with the Building Inspector to ascertain planning and building approval status.
Mrs Thiara said: “We had to move quickly and efficiently to help our clients to acquire this development against a tight deadline, but being such a large firm we were able to bring all the necessary resources to get the job done on time.”
With 39 partners, FBC Manby Bowdler is the fourth largest law firm in the West Midlands. The firm has offices in Wolverhampton, Willenhall, Telford, Shrewsbury and Bridgnorth.