Wake Smith Solicitors has acted for steam enthusiasts Peter Bryant and John Kerr on the purchase of a third miniature railway.
Seaside Railway Group Ltd becomes the new owner of the popular Eastleigh Lakeside Miniature Railway in Hampshire.
The duo, who already operate the Scarborough North Bay line and the Cleethorpes Coast Light Railway, have acquired the 33-year-old visitor attraction near Southampton which includes a 1.25 mile long narrow gauge track, 24 locomotives, signal gantry, tunnel, shop, cafe, two stations, turntable and traverser, overhead crane, wheel drop and workshops.
Rebecca Robinson, director in the company commercial team at Wake Smith, alongside solicitor Joe Creasor, dealt with the acquisition including drafting the share purchase documentation, negotiating terms, carrying out essential due diligence and liaising with the previous owner, and sole shareholder of the attraction, Clive Upton, who is retiring.
Rebecca said: “This is the third acquisition we have now acted on for John and Peter. Not only does this deal keep the Eastleigh Lakeside Miniature Railway operating, but secures its future for generations of rail enthusiasts.”
Directors John and Peter said: “Eastleigh Lakeside Miniature Railway is a treasured asset for both the town and the wider region. Clive has done a phenomenal job in creating and running the railway - the line has some of the finest facilities for a railway of this size in the country.
“We are looking forward to bringing our enthusiasm and expertise to the line, working alongside the team of staff and volunteers to continue Clive’s efforts and ensure a bright future ahead.
“For the third time, Rebecca Robinson at Wake Smith has offered prompt and professional advice leading us through the acquisition with no hassle.”
Eastleigh Lakeside Miniature Railway runs weekends and school holidays throughout the year, with trains departing from 10:00am, running from the main station at Eastleigh Parkway in Eastleigh Country Park, with the trip totalling 15-20 minutes.
For advice on buying or selling a company contact Rebecca Robinson at [email protected] or call 0114 266 6660.
Pic caption: New future for Hampshire miniature railway – new owners Peter Bryant and John Kerr with former owner Clive Upton.
