Acquisition of site for manufacturing premises and head office accommodation for Griffon Hoverworks
We acted for Griffon Hoverworks, a pioneer in the development of hovercraft, on the acquisition of a substantial site adjacent to the River Itchen in Southampton to provide new manufacturing premises in four bays and a new head office building.
The transaction has been effected by way of an Agreement for Leases involving separate leases for the manufacturing bays and the office building. The Agreement was conditional on planning consent for the construction of a new slipway and a new office building being obtained, as well as other works being undertaken by the landlord.
asb provided advice at the outset on the timetable set out in the Heads of Terms as well as throughout the transaction on the need for definitive specifications detailing the proposed works, and provided input into the requirements for the construction documentation. We also advised on the planning issues at the site.
Published: 26 Oct 2011