CPD Flashcards
What are the USE classes?
Class B - Industrial
Class C - Resi, hotels, accommodation
Class E - Commercial, Business and Services
Class F - Local Community and Learning
Sui Generis - properties not fitting in any of the above categories
Why were the use classes changed?
The government had said that the main driver of change has been the need to enable a repurposing of buildings on high streets and town centres. The new Class E allows for a mix of uses to reflect changing retail requirements.
Industrials Use class?
B2 General Industrial
B8 Storage and distribution
What are the Class E sub categories?
Ea/b = Retail
Ec = financial & professional services
Ed = Indoor Sport
Ee = Health Services
Ef = Creche
Eg = Uses that can be in resi areas without being a detriment.
Interest rates dampening demand for Offices?
Increased cash flow pressures within businesses making them re-think their space,
Take up has been down in out of town.
Up in city centre. Occupiers needs have changed i.e. new working patterns since Covid. Space still required but less space.
Key Industrial Data?
Take up for warehouses are down since the pandemic (36%)
Supply currently outdoing demand.
Rents have grown by 5.0% since beginning 2023.
What’s the current state of the Retail market?
In general less lettings and rents still adjusting / decreasing from pre-covid.
Occupiers still reeling from the squeeze on cost of living crisis and energy price rises.
Increase focus on value for money but footfall has risen.
More opportunities from the flexibility for alternative use provided by the use class changes within class E
ESG Department?
Our experts offer truly comprehensive solutions that span the entire property life cycle.
enables clients to understand the impacts, risks and legislative compliance associated with all major milestones from property transactions and asset management
the delivery of a building which is carbon efficient, and then continuing to operate with energy efficiency
Our specialists produce sustainability strategies and recommendations ranging from Net Zero Carbon to Social Value
What was discussed on the Womens Day Panel?
-Parental leave
-adv and disadv of Traditional feminine and masculine characteristics
Lecture on good Estates management?
Operational costs are reduced by ensuring the space is appropriately sized and used adequately.
Much downsizing in Covid due to increased working from home therefore occupiers are not paying for space that is not being used.
This feeds into the decision making of firms and what space they require and where they require it.
Understand the needs of the occupier.
Rating and Accurates?
Rates:
Rateable value is an estimate of rent. multiply the rateable value of an individual property by the ‘multiplier’ (the national non-domestic multiplier). This calculation gives the amount of rates payable for the year.
Standard multiplier Small business multiplier
51.2 pence 49.9 pence
Accurates - how to save clients money by ensuring accurate rates
Build to Rent?
Steady rental income: With build-to-rent, investors can generate a predictable and steady rental income stream, as opposed to relying on the volatile housing market of buying and selling homes.
Current Economic conditions - Date of APC
IR (Base Rate)
CPI
Interest Rate = 5.25%
CPI = 3.2%
Updates the Appraisal Process?
Regular catch-ups rather than one yearly appraisal. Provides greater and more tailored and useful feedback.
Parks Pitch fees on resi parks.
changes the inflationary index for annual pitch fee reviews from RPI to CPI. RPI is typically the higher figure so this will mean less for park operators.
