Lisa Mitchell is a Birmingham-based senior associate who helps clients to realise the capital value of their residential development schemes by producing site specific documents which enable house builders, registered providers and commercial developers to sell their houses and apartments on such schemes to individuals and investors either outright or on shared ownership terms.
Lisa qualified in 1997 and began her legal career as a commercial development lawyer acquiring, assembling, letting and subsequently handling the investment sale of a variety of primarily office and retail developments.
Since her move to the Housing Development and Residential team in 2005, Lisa's invaluable commercial development experience combined with her expertise in setting up residential development schemes (no two of which are the same) has seen her involved in a number of mixed use schemes combining retail with residential where she has structured the documentation in respect of the residential elements to ensure that reversionary interests can be freely disposed of by clients without triggering the residential owners' right of first refusal.
With her in-depth knowledge of the Homes and Communities Agency's Capital Funding Guide, Lisa is also able to guide and advise registered providers of the Agency's requirements with regard to shared ownership (including older persons shared ownership and shared ownership within designated protected areas) on their grant funded development schemes.
Lisa appreciates the environment her clients are operating in day-to-day and the very real challenges they are facing while trying to deliver new housing stock at incredible speed.
Making the move from a commercial development, more transactional focused role to the housing development and residential team. Although it is all "real estate", it has involved a total change in clientele, from traditional developers and investors to dedicated housebuilders and registered providers. Worlds apart in terms of how they operate as businesses!
To be able to use her skills across different areas of the real estate realm, familiarising herself with how her current clients work and building up a real sector knowledge in terms of what effects them, while also bringing them a different perspective.
- Commercial developers whose portfolios include residential elements
- Registered providers
Dealing with the residential elements of a large mixed use scheme comprising both retail and residential aspects and producing site specific plot documents for the individual sale of approximately 200 apartments while taking into account the requirements of the Council of Mortgage Lenders' Handbook, the overall service charge regime of the scheme and future disposals of reversionary interests.
Advising registered providers on the setting up of their shared ownership schemes (including extra care), providing commercial advice and guidance on the requirements of the Homes and Communities Agency's Capital Funding Guide and drafting plot documents accordingly.
Assisting a registered provider with their move towards open market plot sales, advising on the requirements of the Consumer Code for Home Builders and the plot reservation process, as well as preparing a suite of plot documents for their first open market site.
Assisting a second registered provider on the first of their private extra care schemes and producing a suite of documents.
Working with a property development and investment company on a mixed use scheme, where the client was selling a further residential phase after acquiring the scheme from another developer. This involved working with and adapting existing plot documentation that had already been put in place and ensuring that the new residential phase worked within the same service charge regime as the previous phases.