Richard Sharpe

Since qualifying in 2003, Richard has worked exclusively in Social Housing and is highly regarded within the sector.

He advises Registered Providers (RPs) on all matters relating to both property development work and the charging aspects required to secure a broad range of financial transactions including loan facilities and capital markets products such as bond issues and private placements.

He also advises on the property due diligence required to support disposal programmes, intragroup transfers, stock swaps, large scale refinancing and merger exercises.

Prior to joining Sharpe Pritchard, Richard was a Partner at Devonshires.

Richard has acted for many RPs throughout England and Wales including all members of the G15 and in 2017 advised on a £400M bond issuance which was the first in the sector to secure an uplifted MV-STT valuation for LSVT stock post deregulation.

His property development work includes:

• Advising RPs on planning, nomination agreements, unilateral undertakings and Section 106 agreements (highlighting any EUV-SH / MV-STT implications of the mortgagee exclusion provisions).
• Dealing with the SDLT and VAT structure of acquisitions.
• Drafting Golden Brick sale contracts and bespoke development agreements; ensuring that the documentation takes into account any funding and construction requirements.
• Advising clients on the available options for safeguarding funds paid out during the construction process.
• Drafting land transfers, leases, deeds of easement, deeds of variation and deeds of covenant.
• Setting up sales packs following handover of units for low-cost home ownership initiatives.

In addition to advising on the charging aspects required to secure loan facilities, bond issues and private placements, Richard’s property charging work includes:

• Getting uncharged properties ready for charging in advance of need.
• Reviewing over-secured facilities.
• Uplifting the value of ex-LSVT stock from EUV-SH to MV-STT.
• Reviewing mortgagee exclusion clauses in Section 106 agreements, transfers and leases to ensure that they are robust and will allow for an MV-STT valuation for charging purposes.
• Negotiating and completing on deeds of variation with various third parties to correct title and planning defects with a view to maximising the value of an RP’s housing stock for charging purposes.
• Carrying out Asset and Liability Register work for RPs.
• Giving property charging training seminars to both finance and development staff at RPs.