Case Study Flashcards
describe the residential sales market at that time
2023 - high inflation, interest and mortgage rates, cost of living. People “waiting and seeing”. Some sources - house prices fell 1.75%
2024 - picked up slightly, house sales increased and more sales closer to asking price
do you need EPC/floor plans for an off the market sale?
EPC yes, floor plan no
Did you consider refurbishing before selling?
Briefly, however the client was not interested in investing in properties with no guarantee that it would increase the sale price
clownefields/65 southgate were the most refurbishment
what was the rent for the properties?
£700-£900pcm
Did you consider any overages to 7&9 Church Street?
Restrictive covenant - parking area to be used as parking/garden use only.
Which council were the properties under?
NEDDC and Bolsover.
One of your client’s objectives is to maintain a positive reputation, how did you achieve this?
Gave tenants extra time
Relocated one tenant to another estate property where suitable
Why did you continue to entertain the purchaser of 7&9 Church Street?
It was agreed that the properties would not be placed on the open market until 11 and 13 Church Street had completed. Once completed, the sale to the purchaser of 7&9 Church Street was in full progress.
Why did the estate not want to sell the paddock with 1&2 Roundhills?
The client’s strategy is not to dispose of land, primarily due to inheritance tax reliefs.
Has labour government changed anything regarding the renters reform bill?
Draft bill announced in Kings Speech - Renters Rights Bill
What were the average yields for the properties?
3%
