Case Study

Question 1

How did you manage the process and progress of this instruction?

Question 2

Why is it important to set a valuation date?

Question 3

How can you tell if the building needs repointing?

Question 4

Do you know if the extension was documented? Why would this be relevant?

Question 5

What did the conflict check entail?

Question 6

What do you take into consideration when proposing the timeframe for a valuation?

Question 7

How was the proposed fee estimated?

Question 8

What precautions did you have to consider before inspecting the property?

Question 9

Why is it important to follow the safe person concept?

Question 10

What PPE did you wear/bring with you during the inspection?

Question 11

What notes did you write about the specification?

Question 12

Which factors could impact the value of this property?

Question 13

What did you report regarding the surrounding area?

Question 14

Why is it important to consider environmental factors and possible issues?

Question 15

How did the micro location compare to the other retail accommodation in the area?

Answer 15

The majority of the retailing provision on the High Street lies to the north of the subject property, which is separated from the southern section by a bridge over the railway. The southern section has a lower density of shops, with no national representation aside from the retail at the subject property.

Question 16

How did you measure the property?

Answer 16

I measured the property on a GIA basis in line with market practice.

I also measured the property In Terms of Zone A, however, due to the secondary nature of the pitch and the lack of rental tone in terms of Zone A, I had greater regard to the overall rate per sq ft when calculating my opinion of market rent.

Follow up - I applied a Zone A depth of 20 feet or 6.1 metres

Question 17

Which methods would you have adopted instead if you were to use IPMS?

Answer 17

IPMS 3 which is used for measuring the occupation of floor areas in exclusive use

Question 18

How do you verify and validate information obtained from online databases with agents?

Question 19

Who qualifies as an appropriate agent?

Question 20

How do you know the information provided by an agent is accurate?

Question 21

What other considerations did you have when looking for comparable evidence?

Question 22

How did you present your chosen comparables to estimate the market rent?

Question 23

Why was the investment method most suitable?

Question 24

What was the market sentiment at the time of the valuation?

Question 25

What is a favourable NIY?

Question 26

Why was it important to expand your search and consider as far as Leeds to establish the market value?

Question 27

What was the benefit of focusing on the specification of the accommodation and tenant covenant that you can take with you on future instructions?

Question 28

How did you manage the frequent contact with your client?

Question 29

Which methods of communication did you enhance during this instruction?

Question 30

How did you manage health and safety throughout this instruction?

Question 31

How did you demonstrate a high level of data management?

Question 32

How did you demonstrate a high level of teamworking?

Question 33

Why didn't you reference any of the maps?

Question 34

What would you do differently next time?

Question 35

How did you act ethically?

Question 36

What were your key achievements?