case study questions Flashcards
how was the gross development value arrived at
I assessed what I believed to be the most likely alternative use- housing. Determined how many units/rooms and then obtained comparables for this.
How was the cost of renovating per sq m established?
I was able to obtained quotes from contractors while discussing site preparation costs
how was the JV agreement negotiated/ how were terms arrived at?
I review the SW and Whittingehames estates title areas. This showed me that SW had had a smaller landholding but the controlled the access. Although the Estates area was larger they had no alternative access and no access rights. 50% 50% was the proposal because we didn’t want to create a long negotiation period and felt that you couldn’t argue fairer than that.
was there a marriage value in sw and whittingehame estates assets
Yes- i think it would have been hard to sell SW title area given that we only owned half of the land the building sat on. Sold together if offered someone a full development opportunity
How were the core objective evaluated/monitored/considered?
At the outside i sat down and reviewed what the core objectives were:
- relief sw of liability
- achieve capital receipt for SW
- maintain good relationship with Millers
Throughout the project at any decision making stage I would refer to these and consider which option best aligned with reaching these targets.
how did you select the most appropriate sales method
As a pubic body we have to follow the rules set out in the Scottish Public Finance Manual. This states that public bodies shouldn’t hold on to properties any longer than they are required. It also state that we need to achieve best value for money.
What is the Scottish Public Finance Manual?
It sets out guidance for the proper handling and reporting of public funds
It covers the acquisition, disposal and management of property held by public bodies.
how did the RICS Rules of Conduct come into play?
COMPETENCE-As the case involved a range of topics which required professional or specialist advice, I have to ensure that I was competent to act, had the appropriate skills and understanding and could judge when assistance was required to ensure best practice.
Do you feel the objectives were achieved?
Yes I do
Would this be considered a successful outcome?
What changes would you have made on reflection?
