Commercial property
all lawyers, a lot of Chloe’s time is focused on drafting legal documents such as leases, asset management licences and tenant concessions. When dealing with an acquisition case, Chloe says “due diligence is always a vital component – it involves reviewing title and property searches, identifying the main issues in the context of a particular transaction and drafting a report for the client to consider and refer to in future.” Solicitor versus barrister For Chloe, work experience was key to deciding between solicitor and barrister. Although she undertook two mini-pupillages at university, it was her experience at a law firm that confirmed this was the right path. “I found my skill set was better suited to the solicitor side,” she says. “I liked the idea of collaborating with others and learning through hearing different perspectives. I quickly identified that I was a non-contentious lawyer. I didn’t like the idea of going into the office and having an argument with the other side every day! Working in real estate offers the chance to dip your toes into other practice areas. For example, you might need real estate finance advice from a banking lawyer or the opinion of a litigation colleague.” Another element that Chloe enjoys is the fact you’re always learning. While similar matters are bound to come through the door, “each one tends to have a nuance that warrants specific consideration in the context of the client or transaction at hand”. For this reason, Chloe describes her work as “varied and interesting”. The importance of soft skills Chloe neatly summarises a crucial part of being a lawyer: “As you become more experienced, you realise that soft skills are as important as legal skills. You must have the ability to communicate effectively with clients and break down what could be a complex problem into a format they can understand.
Commercial property (or real estate) lawyers act for a variety of domestic and international clients – including investors and developers, governments, landowners and public sector bodies – on a wide range of transactions, involving everything from offices to greenfield and retail developments, infrastructure projects and the management of shopping malls. The work itself focuses on the sale, purchase and lease of land; development; investment; and leasehold management. This touches on a range of other legal disciplines, including planning, environmental, construction, litigation and tax law. Property may also be a key component of other projects, including mergers and acquisitions, property finance and commercial projects. It crosses most sectors: investment, banking, insolvency, education, hotels, health, transport, agriculture, charities and private wealth. Describing her journey into commercial real estate, Mills & Reeve associate Chloe Gibson laughs: “I was in the minority at university because I really enjoyed land law! I knew I wanted to do a real estate seat during my training contract, and it came at a good time – it was my third seat, so the beginner nerves had subsided and I’d started building my confidence.” It’s this confidence that’s continued growing as Chloe’s experience in the sector has developed, meaning that while her expertise primarily lies in landlord/tenant work and asset management, she’s been increasingly involved in acquisition and disposal work, with a focus on the life sciences sector. Chloe’s tasks as a commercial real estate lawyer include “liaising with managing agents about tenant requests or client issues and suggesting practical solutions, as well as reviewing heads of terms and identifying points that need clarifying before the transaction can progress”. Like
For more firms that work in this practice area, please use the ‘Training contract regional indexes’.
126
THE LAWCAREERS.NET HANDBOOK
Made with FlippingBook - professional solution for displaying marketing and sales documents online