Asset Management

Question 1

Please explain ‘Effective Asset Management’

Answer 1

Optimising all aspects of the Asset which in turn enhances the Capital Value.

Question 2

Please explain ‘Value Add’

Answer 2

Enhancing the value of an asset through various avenues:
Refurbishment, let vacant space, rent reviews, increasing envelop, regearing leases etc.

Question 3

What is a yield play?

Answer 3

An investment purely made on the basis of the yield rather there being an opportunity to add value.

Question 4

You refer to the Opportunistic Approach in your submission- what is this?

Answer 4

One that prioritises upside while accepting the risk attached.

Question 5

Asset Management Reporting at Labtech- what did this involve?

Answer 5

A report on various aspects of the portfolio: upcoming lease events, vacant space reports- interest schedules, leasing updates etc.

Question 6

Asset Management Portfolio Managers

Answer 6

A workbook which includes a sheet for each property, containing: Acquisition details, debt, tenancy, NOI, tenancy schedule including all lease events.

Question 7

Explain the Skipton House- Running cost analysis

Answer 7

The property became vacant in September 2022. I dealt with the deletion from the rating list.

The property is located in Elephant & Castle next to the Bakerloo line exit and requires 24/7 security- I provided cost analysis on the options available.

Question 8

What was your role with regards to the Hammersmith Office Refurb programme

Answer 8

1. Agreeing Cat A specification (Generic)
2. Going out to tender
3. Negotiating and awarding tender .
4. Liaising with PM.
5. Weekly walk throughs with contractors.

Question 9

Please talk me through the Leeds Academy Regear

Answer 9

1. Property over rented with 5 years to run.
2. Reversionary lease for 20 years.
3. Vary lease to ‘Market Rent’ i.e. rent reduction.
4. Index linked reviews every 5 years.
5. COVID relief 50% for 4 months of lockdown.
6. Tenant to complete works to facade and roof.

Question 10

What valuation method did you use here?

Answer 10

Hardcore Layer Approach

Question 11

Hammersmith Office- Change of Use. Please explain the rationale and your involvement

Answer 11

1. Discussing ‘optimal use’ internally
2. Discussing use with Planning Consultants.
3. Formulating a report on the Hammersmith Office Market and Colet Courts tenancy.