A Sheffield law firm has acted for a furniture retailer on the purchase of a new property.
Wake Smith Solicitors represented Ponsford, the family-run, luxury furniture retailer in Sheffield, on the six figure acquisition of a 7,437 sq ft premises on a 0.57-acre plot, behind its existing Millennium Building on London Road.
The well-known independent business, which has operated in the city for more than 130 years, brings Impression House on Oak Street, formerly the headquarters of ASAP Stamps, into its property portfolio.
The deal saw the purchase of the building and site, which was home to the UK’s largest independent rubber stamp manufacturer, potentially for regeneration for the traditional and contemporary furniture retailer.
Wake Smith’s commercial property director Neil Salter handled the building and land sale in the latest legal transaction for the two established Sheffield firms. Ian Osborn, senior associate in Taylor Emmet’s Commercial and Agricultural Property Department, acted for the sellers.
Neil Salter said: “The new site sits adjacent to Ponsford’s existing premises and was bought from the owners with vacant possession after a relatively short and smooth transaction when any issues were ironed out with minimum fuss.
“Our role was advising on due diligence, agreement for sale, the transfer deed, searches and title report and then completion.
“As an established business in Sheffield, Ponsford operates with many of the same values as Wake Smith to offer quality, innovation and excellent customer service to the people of Sheffield, South Yorkshire and beyond.”
Angus Ponsford said: “Using Wake Smith was the natural choice for us to process the transaction without fuss or bother. Their thorough approach to detail and timely completion made the process easy for everyone involved.”
Ian Osborn added: “It was a pleasure to work opposite Neil. His pragmatic approach to the transactional needs of the sale demonstrate the fruitful benefits for all parties in instructing local and knowledgeable firms, who can work together collaboratively to move high-value transactions swiftly to legal completion.”
Harry Ponsford founded Ponsford selling household goods from a barrow in Sheffield 130 years ago. By the 1930s, the thriving business moved into a shop on Sheffield’s London Road, part of the same premises in Ponsford’s Victorian building still occupied today.
As successive generations of the Ponsford family evolved and grew the business, the Millennium Building was acquired in the early 2000s, which is linked by a covered walkway called the Golden Jubilee bridge to the original base.
