Case study Flashcards
You measured the office in Elland to NIA what is the definition of this?
The usable area measured to perimeter walls - excludes toilets, areas with headroom less than 1.5m, cleaner cupboards, lift rooms, stairwells, internal structural walls.
What was the EPC rating of the office in Elland?
Entire building had a rating of E, singular office did not have one.
What does the MEES say about letting this office in Elland?
Property needs an EPC rating of E or greater to be let.
What health and safety measures to you undertake for the office in Elland?
Under risk assessment, checked if property previously had risk assessment on file, determined PPE to take to site, Updated outlook calendar of location and notified manager of location, took people safe device.
What is the difference between a lease and license?
A lease must grant exclusive possession of property for a fixed or periodic term at a rent.
Leading case on difference between license and lease?
Street v Mountford 1985
Talk me through the construction of the property?
The property is of brick construction with a pitched tiled roof. Recently refurbished the property now has upvc windows and doors. Internally the property has solid vinyl and carpet covered floors with painted and plastered walls and ceilings and newly installed LED light
If you were to measure the property to IPMS what standard would you use?
IPMS 3.2 which is the area held exclusively by an occupier measured to internal wall
Do you have the relevant expertise to value converted pubs, mills and churches?
I am aware of how each are constructed and the factors of each which could effect value. I was valuing an office within a converted property each of the comparables are of the nature and of similar ages and fitouts. At all times I consulted with a senior surveyor.
Do you think you are comparing like for like with the office in Elland?
Yes a lot of the properties are in converted properties on similar lease terms, the fact they are in converted properties means that they are all likely to be restricted when it comes to layout and specification of the offices.
How did you arrive at the 5% and 3.5% adjustments?
I consulted a senior surveyor in this matter, they used their expertise in this area to advise me that properties let with landlord responsibilities for repairs and insurance let 3.5/5% higher than those on other terms.
Are you allowed to advise as a graduate?
I am not allowed to sign the report and advise them this way as that is the responsibility of the registered valuer.
I advised various stakeholders in this case during the length of the instruction during inspection or in meetings after the report was sent.
Why do the PCDs state internal repairs only?
This is the standard terms medical premises are often let?
What did you apply for car parking and how did you come to this?
£200 per space. I looked at other valuations in the local area to arrive at this figure
You say you excluded comps with service charges but then adjusted for a service charge?
Yes for this comp I had the letting terms, the service charge was for insurance only, so I could easily adjust for this. The other comps included the use of other spaces and then utilities so adjusting for that would have been very difficult to do accurately.
