Commercial property agents head to High Court to recover commission worth over £300k
Commercial property agents the Richard Shaw Partnership have launched a legal battle for commission on the sale of a German shopping centre.
The Richard Shaw Partnership is suing APN Funds Management for commission of 510,000 euros (£344,867) on the sale of the Neustadt Centrum shopping centre in Halle-Neustadt, Germany.
APN paid 51 million euros for the property on 31 March 2006, according to a High Court writ.
But the Richard Shaw Partnership accuses the trust of failing to pay its commission, and is seeking payment of 510,000 euros as well as interest of £57,989.60 and continuing interest of £118.11 a day, and damages for breach of contract.