Having trained with Herrington Carmichael, Steph qualified into the Real Estate department in 2014. She has since built knowledge and expertise on a broad range of Real Estate transactions, acting for both companies and individuals on a variety of matters, including advising banks and borrowers in relation to secured lending and mezzanine finance, the sale and purchase of land for residential development using a range of contracts, including option agreements, conditional contracts and unconditional agreements. Steph has also developed a specialism in leasehold enfranchisement, including providing tailored advice in relation to lease extensions, and collective enfranchisement.
Experience | Key projects
- Instructed by a major bank in relation to secured lending on the multi-million pound acquisition of a garden centre subject to several concession leases.
- Acting for both borrowers and lending institutions in relation to property finance transactions, including in relation to development sites
- Expertise in mezzanine financing having recently acted on a £425,000 mezzanine facility for a development site with a GDV of £3.3m
- Acting for a mezzanine lender in relation to development finance for a residential scheme in Wandsworth comprising 28 flats with commercial space below
- Site acquisitions for residential development
- Option agreements
- Unconditional sale and purchase contracts
- Conditional agreements for the disposal or acquisition of land
- Planning agreements – Unilateral Undertakings or S106 Agreements, S278 Agreements and S38 Agreements
- Deeds of Grant to grant rights for cables, pipes and drains in favour of utility companies or private land owners
- Plot Sales site-set up, including drafting the contracts, transfers and leases (as appropriate) for the development
- Acted for a developer in contracting to purchase a development site by way of an option agreement, and then sub-selling the site to another developer with the benefit of planning consent
- Sale and leaseback arrangements, including on freehold reversionary sales
- Expertise in relation to leasehold enfranchisement, including acting for residential landlords and tenants in relation to lease extension both inside and outside the statutory procedure, collective enfranchisement, right to manage and advising on tenant’s rights of first refusal.
- ALEP accredited practitioner for leasehold enfranchisement matters
- Landlord and Tenant work – acting for both Landlords and Tenants in the granting and taking of commercial leases.
Interests and Hobbies
Steph is a keen home baker and even made her own wedding cake. When not baking Steph enjoys spending time outside and likes skiing, mountain biking, camping and climbing the odd mountain.
Legal Insights by Steph Richards
Senior Solicitor Steph Richards highlights the importance of Inter-Creditor Deeds in secured lending transactions, with a focus on development finance.
When assessing a planning application for development, authorities must consider whether any protected species are likely to be affected.
Turnover Rent is a form of Rent in Commercial Leases which may benefit both a Landlord and a Tenant.
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Award winning legal advice
We are solicitors in Camberley, Wokingham and London. In 2019, Herrington Carmichael won ‘Property Law Firm of the Year’ at the Thames Valley Business Magazines Property Awards, ‘Best Medium Sized Business’ at the Surrey Heath Business Awards and we were named IR Global’s ‘Member of the Year’. We are ranked as a Leading Firm 2020 by Legal 500 and Alistair McArthur is ranked in Chambers 2020.