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David Howe

About

David has over 25 years' experience working across almost all the property teams at Michelmores. He cut his teeth at international law firm Clifford Chance, focusing on real estate finance in the early days of mortgage backed securitisations.  Since joining Michelmores, David has acted for numerous clients on many large-scale projects, including: 

  • PLC developers on superstores, out of town retail schemes, shopping centres, industrial parks and office campuses
  • Local authorities and developers in regeneration projects providing both single use and mixed use developments
  • Land owners, house builders and developers on option agreements and promotion agreements for development sites and strategic land
  • Contractors in health PFI/PPP projects
  • Banks and borrowers in secured lending transactions
  • Corporates on real estate matters in asset and share purchase agreements
  • FE colleges in consolidation and refinancing programmes
  • Central government bodies on redevelopment and relocation projects in the regulated sector.

David headed the Michelmores Real Estate team for five years, prior to taking a sabbatical year in 2014 . He returned to the firm at the beginning of 2015 to focus on client work including tax based structures, joint ventures and strategic land and development.  David is a trustee of the Devon Historic Buildings Trust and a Member of the Assets Board of the Exeter Diocesan Board of Finance.

Recent Experience

  • Acting for a UK institution on a rolling programme of portfolio acquisitions of freehold reversionary interests both within corporate wrappers and by direct purchase. The structures deployed were designed to minimise liabilities, ensure compliance with complex residential landlord and tenant legislation and maximize a secure income stream over an extended period deriving from portfolios having a very significant gross development value. This made an ideal long term investment for the provision of pensions.
  • Acting for the Court Service (MoJ)on the redevelopment of Marylebone Magistrates Court to create the recently opened state of the art City of Westminster Courts.  Michelmores' involvement spanned over seven years, including agreement for the coordination of the sale of surplus properties whose functions were to be consolidated in the new courts, procuring the redevelopment through a regulated process, obtaining funding through a sale and leaseback in the institutional market (conditional on the grant of planning permission) disposing of surplus land on site for housing (on a conditional basis ,with sales overage and deferred payments), coordinating access, building rights and infrastructure with the residential developer, dealing with the extinguishment of adverse easements and covenants, entering into party wall agreements, infrastructure agreements and agreements governing rights of light with adjoining owners including a foreign embassy. This was one of the most complex procurements with which the client has been involved but has resulted both in an excellent outcome for the public purse as well as a much needed facility in central London for dealing with crime and terrorism in the modern world.
  • Acting for Barratt Developments PLC on the multiphase multimillion pound redevelopment of North Prospect, Plymouth opposite Plymouth Community Homes, the Housing Association which took a voluntary transfer of Plymouth City Council’s housing stock. The development  is being procured under a regulated process under a series of conditional phase development agreements conditional on planning and site assembly with sales overage. Separate building contracts are let for the affordable housing elements with the provision of private housing and associated infrastructure (including highway diversions and stopping up) governed by the PDA. Title issues were particularly challenging with the need to investigate many hundreds of properties having individual registrations and identifying those needing to be bought in under the threat of the exercise of compulsory powers to complete the jigsaw. The resulting development is one of which the client and  local community will be justly proud.”

 

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