Practice for Sale - TA Postcode area of Somerset

We are delighted to have been retained by a Two Partner Solicitors’ Practice based in the “TA” postcode area of Somerset  The Principal is interested in selling the Practice as a going concern due to poor health and imminent retirement but might be prepared to remain as a consultant after disposal to assist with a smooth transition.

Turnover is in the region of £270,000 and was made up approximately of Residential Conveyancing 44%, Wills/Trust/Probate 32%, Commercial Property 11%, Private Matrimonial 3%, Miscellaneous Litigation 2% Company & Commercial 4% and Miscellaneous Non Litigation 4%.

The Practice also holds about 1,420 wills, 1,275 deeds and a further 442 EPA/LPA's.

The Practice is in the centre of a thriving and expanding Somerset town within an area of about 25,000 residents. It has close proximity to a national rail station and the M5 for easy access to Bristol, London, Taunton, Wells, Weston-super-Mare, Exeter and Bath.

The Practice does not hold any Legal Aid Franchise.

It occupies about 1,800 sq. ft. of office space on the High Street and exceptionally has its own off street parking. The Principal owns the freehold which is worth in the region of £350K and which would be available for sale or lease. These premises are more than adequate for the practice's current activities and offer room for future expansion.

The Practice has invested heavily in computer systems in recent years.  The premises are wired throughout with a LAN.

Apart from the Principal, there is a Salaried Partner and 4 full time equivalent support staff.

This Practice has phenomenal potential for growth. The Practice was established following the Second World War, absorbing an older firm.  It has never invested in substantial advertising or marketing.  It is ideally equipped for marketing and communication using its computer data base and systems

We believe that this Practice would be of interest to provincial Firms wishing to gain a foothold in Somerset to develop their Commercial and Private Client bases in this increasingly attractive area.  We also expect this would be of interest to someone looking to acquire their first Practice as a going concern.

Please contact us for more information