SFM on the menu with restaurant deal

Aug 1 2007

by Graeme King, The Journal

WEALTH management firm SFM in Gateshead has provided legal services on the sale of an Essex restaurant where David and Victoria Beckham like to dine. The £3.6m commercial property deal is one of a number completed for clients in the South by SFM in recent months. The company handled the deal for millionaire businessmen Darren Lietch and Mike Taverner, who have acquired the restaurant called Smiths Brasserie in Ongar. Since it opened 12 years ago, Smiths Brasserie has become popular with some high-profile names from the world of showbusiness, with Rod Stewart and actor Ray Winstone dining there, as well as the Beckhams. SFM says it has seen growth in London business as its reputation spreads beyond its native North-East. Wendy Gurr, partner and head of the property law team at SFM Legal Services, said: “We have seen a massive growth of work coming from the South from property developers and City ‘bonus boys’ with a lot of money to invest, because of our growing reputation as a law firm that can also introduce tax-saving schemes such as stamp duty exempt purchases, and a fast-track 24-hour conveyancing service. SFM now numbers many of this region’s millionaire entrepreneurs and business people on its client list. Story continues ADVERTISEMENT The £5m turnover company was originally set up in 2002 when managing director Malcolm Graham spotted a gap in the market for specialist lawyers in the field of tax, property and financial planning, particularly for those in the middle to high income bracket, and now employs 84 staff at its offices in Gateshead and its soon-to-open Sunderland office. The firm said it has seen a 75% surge in inquiries from City high-flyers on a spending spree after record-breaking £21bn bonuses were announced last Christmas. The firm, which provides tax advice, as well as finding property deals and financing for wealthy investors, is working on an expansion plan to double sales and staff numbers to £8m and 120 respectively over the next year. Clients of the company, set up by managing director Malcolm Graham four years ago, typically have £2m to £3m to spend on property deals, with the firm providing deal-specific and general tax advice and conveyancing.

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