Case study

Question 1

Can you describe the building please?

Answer 1

Audrey House is the most prominent building on Ely Place, situated adjacent to the historic St. Etheldreda’s Church. The building has an ornate period façade and has been extensively redeveloped behind to provide a large, modern, office building.

Question 2

How did you facilitate the conflict check?

Answer 2

Salesforce - looked for the client and any previous involvements
No conflicts of interest

Question 3

How would you do a money laundering check?

Answer 3

Copies of IDs and Proof of Address

Question 4

What were in your Terms of Engagement?

Answer 4

• Client’s requirements
• Scope of work
• Fees
• CHP
• ML Regulations
• Abortive fee

Question 5

What is your firm’s complaints handling procedure?

Answer 5

• STAGE ONE = Internal
  o When complaint received issue CHP
  o Complaint must be made in writing
  o Complaint must be acknowledged within 7 days, investigated within 28 days
• STAGE TWO = ADR
  o If client is not happy with review, refer to independent redress scheme

Question 6

What RICS guidance did you refer to in your acquisition?

Answer 6

RICS Professional Standard: Code of Leasing Business Premises 2020
RICS Rules of Conduct

Question 7

What was the City market like during when your case study was conducted?

Answer 7

Grade A rents for filly fitted space: £79.50 psf.
Tenant space: £55 psf
CAT A space: £70 psf

Rent was low due to location and condition of the space - Landlord didn’t want to refurnish at Cat A, of which the Cat A floor was £45 psf

Question 8

What are the different types of air con?

Question 9

What was in your Heads of Terms?

Question 10

When conducting the inspection, what did you do before hand?

Question 11

What RICS guidance did you comply with when measuring the premises?

Answer 11

RICS Code of Measuring Practice, 2018

Question 12

Why did you only measure on an NIA basis?

Question 13

What did you include / exclude from your NIA measurement of the accommodation?

Question 14

What Rules of Conduct did you demonstrate in this case study

Answer 14

Rule 1 - Honest and acted with integrity - transparent about timings
Rule 2 - Acted within my professional remit of competence
Rule 3 - High Level of Service
Rule 4 - Treated my clients with respect

Question 15

When negotiating the HoTs, what did you ensure?

Question 16

What is a Request for Proposal?

Question 17

What was your inspection date?

Answer 17

26th October 2022

Question 18

What were you looking for when inspecting the premises?

Answer 18

Anything that affected lettability, condition (so this could be negotiated), looking at the facilities the office had to offer.

Question 19

How did you ensure you effectively communicated with your Client?

Answer 19

Regular client calls
Emails following calls and viewing tours