Corporate reorganisation driven by family succession planning

A long-established 100% family food retail business. Husband and wife are the shareholders, while their two grown-up daughters are involved in the business in different capacities. The business traded from a combination of freehold and leasehold premises, and was valued at £10m, with a turnover of £12m, and earnings of £1.2m before interest and tax. The business was looking to acquire the freehold of one of the leasehold properties that they had traded in for two years, valued at £1.5m.