Ashtons Legal advises on the acquisition of Drayton Old Lodge

Posted 09/12/2015

Ashtons Legal has recently advised Drayton Old Lodge Limited on acquiring the Norwich managed office, wedding and events venue business along with the freehold premises from liquidation. This now brings an end to what had been an uncertain time for the renowned venue.

The wedding and catering side of the business has been outsourced to a new service provider and will continue to provide those services. The company will now focus on developing and growing its managed office space offering going forward.

Owner, John Barnard, said: “I am delighted to be able to continue the business and I am now looking forward to growing and developing the managed office space part of the business. There are currently a number of office spaces let to a mixture of businesses from start-ups to established businesses, with limited spaces still available”.

Matthew Downing, a Corporate Associate, at Ashtons Legal who led the transaction added: “doing a transaction in these circumstances always needs careful management and consideration of those impacted. I am pleased that the future of this venue has been resolved and that there is now a positive outcome for the venue”.

John goes on to say: “I really appreciate the support of Ashtons Legal throughout this process, they have guided me through a complex transactional process along with Larking Gowen Business Strategy & Support and I am glad to have navigated through this process and to be able to take my plans forward”.

The team from Ashtons Legal was led by Corporate Associate Matthew Downing, who was assisted by Commercial Property Associate, Genie Barham, Commercial Property Solicitor Howard Bailey and Employment Partner, Ross Strowger. Ian Nelson led the transaction for Larking Gowen.