A day in commercial property
Site visits… stamp duty land tax… complex leases… a lot of client contact… These are just some of the things that a commercial property trainee at Cripps Pemberton Greenish will be involved in during their seat.
This week, Tom Pimenta tells us what a day in this busy department is really like.
Tom’s ‘Cripps Pemberton Greenish in a Day’
9.00am: Following a site visit yesterday, I have a meeting to discuss with my supervisor what needs to be added to the CPSE replies. We act for a landlord looking to lease part of their factory and the site visit has raised some unexpected issues on lorry turning circles.
9.30am: Having supervised a vac scheme student last week, I fill in the feedback form to assess their performance. Cripps Pemberton Greenish gives their trainees a lot of input into the future of the firm. We conduct a preliminary interview for the training contract applicants, conduct office tours and even work closely with and supervise vacation scheme students on common tasks that a trainee would do.
10.00am: I review the changes made by the other side on a licence to undertake works and send an email to propose my amendments. This seat gives a great opportunity to improve your negotiation and drafting skills.
11.00am: Ahead of completion of a different matter, I prepare a draft SDLT return for one of our government clients. I then send it to the client for approval.
11.20am: I review the other side’s signed copy of the lease and review the documents ahead of completion.
12.00pm: I call the associate on the other side of the transaction and complete the lease of the office block. I then inform the client and submit the SDLT return once they have approved it.
12.15pm: I attend a client meeting with a partner in the team. Our client is looking to lease part of their premises to an individual who would like to open a shop. My role in this meeting is to take notes and assess their key concerns.
12.45pm: After the meeting, the partner asks me to prepare a first draft of the lease by the end of the week taking into consideration the client’s comments and the heads of terms provided.
1.00pm: I attend a lunchtime seminar on the SDLT surcharge for residential dwellings that is led by a consultant of the firm, Paul Clark. Paul is very charismatic and his sessions are often filled with interesting anecdotes.
2pm: I meet with a partner in the team. Our client is looking to develop around its shopping centre and needs to know what rights the neighbouring properties have to determine the best form of development. This involves working closely with another trainee in the team to map out the titles that make up the site to see who owns which parts.
Once completed, the work is passed onto the Development and Planning team to review the planning aspects.
Cripps Pemberton Greenish is a leading firm in real estate and can offer trainees seats in: residential property, commercial property, property disputes, development and planning, corporate property and even some work with the construction team.
4pm: The trainees meet to discuss the 2017 summer ball. As we will be second years from September, we will organise the summer ball. We discuss the theme ideas for the event and agree to vote on the top five ideas.
5pm: I return from the meeting and begin to draft a lease of a shop that the partner asked me to do just before lunch. I use a precedent from our system and adapt it to meet both the style of the client (from an older lease that we drafted for them) and the requirements specific to this lease in the heads of terms.
6.45pm: I prepare a list of tasks to do tomorrow and note what is likely to come in the post in the next few days.
7.00pm: I leave the office to meet some other trainees for drinks. I normally leave work between 6.30-7.30pm in this seat.
Name: Tom Pimenta
Current seat: “Investment” (Commercial Property)
Previous seats: Development, Commercial Disputes
Studied: Law (LLB) at the University of Southampton, LPC at the University of Law, London Bloomsbury
Outside of work, I can usually be found… playing football twice a week, going to the gym or catching up with friends and family
Favourite TV boxset: Breaking Bad / It’s Always Sunny In Philadelphia