CLIENT
-
Denys E Head Limited
CLIENT INDUSTRY
-
Visitor Attraction / Garden Centre
SERVICES PROVIDED
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Investment (Disposal)
LOCATION
- Farnham
SIZE/VALUE
- 32.96 acres
DIVISION INVOLVED
- Leisure
DATE
- February 2020
CHALLENGE
Denys E Head Ltd was founded in 1958 by the vendor and his parents. In 1981 the business moved to the Farnham site, which was comprehensively redeveloped before opening as a purpose built garden centre. The company subsequently acquired the neighbouring Birdworld wildlife park and in 2017 its specimen plant business Garden Style was also relocated to the site.
In 2018 planning permission was obtained for extensive phased development of the site, but the client had been operating the business for 40 years and wished to retire. In 2019 he therefore appointed Savills, in conjunction with joint agent Gilbert Evans, to dispose of the business and its assets.
RESULTS
Strong interest was received for the business and a closing date was set for the receipt of bids by 31 October 2019. The client then selected Haskins Garden Centres Limited, a family run company, as the preferred purchaser and entered into a period of exclusivity with Haskins so that they could complete their due diligence.
The sale was completed on 10 February 2020 for an undisclosed sum, on terms with which Savills client was very satisfied.
I was impressed with Savills management of the sale process and in particular the manner in which they structured and maintained the online data room. Collating all of the information required by prospective purchasers and presenting this to them on the data room at the outset meant that Savills could ensure bids were made on an informed basis, and the availability of this detailed information allowed the transaction to progress smoothly. The Savills team also offered me guidance and support throughout the whole process, and I was impressed with the level of detailed attention that was given to each part of the final transaction. I was delighted with the outcome and would have no hesitation in recommending Savills, as their services helped to achieve a very satisfactory outcome for me.
Roger Head – Director, Denys E Head Limited