Case Study

Question 1

Describe Bury St Edmunds

Question 2

What is soft market testing?

Question 3

Describe building

Answer 3

Blockwork on lower section, steep profile cladding on upper section. Rear sides are entirely steel-clad

Question 3

1960’s building - describe common defects

Question 4

How are eaves heights calculated?

Question 5

What’s industry standard for eaves heights

Question 6

What was in the rental agreement with the theatre school?

Question 7

What was in your terms of engagement

Question 8

What was in your conflict of interest check?

Question 9

What’s a typical industrial site density?

Answer 9

Around 40%

Question 10

What’s other site densities for other uses?

Question 11

What’s the current planning use?

Answer 11

Use Class E

Question 12

What would the use class change to

Answer 12

B2 / B8

Question 13

What is RICS Professional Standard: Surveying Safely?

Answer 13

Sets out good practice principals for management of health and safety for RICS firms and members.

Structure:
1. Personal responsibilities for firms and members
2. Assessing hazards and risks
3. Workplace health and safety
4. Occupational health and hygiene
5. Visiting sites and premises
6. Fire safety
7. Residential property surveying
8. Procurements and management of contractors.

Question 14

You drafted Heads of Terms. Where did you find an example template?

Answer 14

Code for Leasing Business Premises 2023; Under Part 4: Appendix

Question 15

When negotiating what did you adhere to?

Answer 15

Part 2 and 3 of the Professional Standard: Code for Leasing Business Premises 2023

Question 16

What were the refurbishment works considered under the budget?

Answer 16

Under the £100,000 budget decided by the Council.

• Necessary roof repairs and cleaning of roof lights
• Essential repairs to cladding and repainting
• Clearance of vegetation from yard, repair of cracks and clearance of drains
• Clearance of rubbish from external open storage area
• Painting of warehouse and office interiors
• Servicing the roller shutter doors.

Question 17

What was the yield for the refurbishment option?

Answer 17

6.75%

Question 18

Why was the yield for the refurbishment 6.75%?

Question 19

How much did the Council purchase the property for?

Answer 19

£1.62 million

Question 20

What was the contingency used?

Answer 20

Refurbish: 10%
New Build: 12%

Question 21

What was the build costs for refurbishment?

Answer 21

£100,000 = £4.42 per sq. ft.

Question 22

What were professional fees for refurbishment?

Answer 22

8%

Question 23

What was the finance rate used and why was this decided?

Answer 23

7%
Decided with Council

Question 24

What profit on cost did the refurbishment option create?

Answer 24

C. 35% profit on cost

Question 25

What yield was applie for the new build option?

Answer 25

6%

Question 26

What was the build rate for the new build option?

Answer 26

£70.00

Question 27

What was the contingency for the new build option?

Answer 27

12%

Question 28

Why was contingency higher on the new build option?

Answer 28

To reflect the slightly lower build cost rate.

Question 29

Why was there a 2% difference between professional fees on refurb and new build?

Answer 29

To include further work required, such as architects that would be required more than refurb option

Question 30

What was the profit on cost of the new build option?

Answer 30

c. 12%

Question 31

Talk me through the sensitivity analysis you did?

Question 32

Comparables!!!

Question 33

What was your fee for this consultancy report>

Answer 33

£3,500 + VAT

Question 34

What was the level of PI cover required?

Answer 34

1. any loss or damage to the Client’s property, including but not limited to physical assets owned by the Client, is limited to £500,000, unless otherwise specified in the
   Letter/Proposal; and
2. All other loss or damage arising under or in connection with this Agreement shall not exceed £5 million unless, otherwise specified in the Letter/Proposal.