Since our last update in May, transaction levels have remained strong which is great, and we haven’t seen the summer lull that often happens.
On our home patch, early indications are that the heatwaves produced good results for the hospitality and tourism industry which will be a welcome result after the last couple of years.
Read the full round-up below.
Corporate | Henry Maples
We supported one of our clients, who are, a rapidly scaling company pioneering technology in rapid microbiological screening for environmental waters. They can detect bacteria in water in 4-12 mins at a fraction of the cost. We aided Molendotech on its venture capital investment round with support from CIOSF, Qantx and private investors. The capital will fund the rollout of its AI-driven water intelligence network app and its manufacturing growth for expanding its hardware and recurring revenue to the UK, US, Canada, New Zealand and Australia.
In other news, we continue on a number of acquisition projects for longstanding clients, including M&A specific bank funding. All of which are being progressed in a collaborative way with advisers and clients working together to reduce delays and costs.
Management incentive schemes remain popular, particularly EMI option schemes as a post investment round action for high growth start ups and growth share schemes for other businesses where EMI is not available. We work alongside accountants and tax advisers to design and prepare scheme terms and the grant of the equity incentives. We have seen them work really well to align the interests of the management team with owners and deliver good results (typically exits but not always).
Many businesses with existing debt facilities are looking to re-finance, generally for positive reasons, whether to fund expansion/development or to secure better terms based on improved trading results. We can assist with finance and security term reviews and project management to drawdown, particularly relevant on larger and more complex projects.
Finally, everyone is now aware of the Autumn Statement scheduled for 28 October and the potential tax changes that may come into effect. For relevant transactions we are working hard to plan and deliver the relevant stages of work to achieve completions by mid-October latest.
Commercial Property | David Williams & Tamsin Mann
Murrells continues to advise across our core sectors and beyond.
Jamie Chaplin worked with the family buyers of The Marazion Hotel, sold by the same family who had owned it since 1982.
David Williams and Jamie Chaplin advised Cyderhouse Co Ltd on the acquisition of its third venue, the former Walkabout site in Newquay — completed in just 27 days from offer to completion.
Tamsin also advised Great Cornish Food Store as it celebrated the tenth anniversary of its store in Truro. Occupying premises alongside Waitrose, Great Cornish Food Store has renewed its lease for a further ten years as it builds on a hugely successful decade supporting some of the finest Cornish food and drink producers.
David Williams continued our work with regional homelessness charity St Petrocs who opened a new four-bedroom site in Truro city centre and eight-bedroom site in Newquay.
Alongside these transactions, we continue to advise investors and corporate occupiers on the strategic and day-to-day management of their portfolios. Together, they reflect the full breadth of what our commercial property team does — transactional expertise combined with long-term client relationships built on pragmatic, commercially focused advice.
