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APC > Development Appraisals > Flashcards

Development Appraisals Flashcards

1
Q

What is CIL?

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2
Q

What is S106?

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3
Q

What are the differences between CIL and S106?

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4
Q

How can a development appraisal be used in valuing developments?

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5
Q

Tell me about planning/costs/GDV/individual site elements in relation to
a development appraisal?

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6
Q

What is a Monte Carlo simulation?

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7
Q

What is a sensitivity analysis?

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8
Q

How do you carry out a sensitivity analysis?

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9
Q

What variables might you change and why?

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10
Q

What factors affect sensitivity of a development appraisal?

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11
Q

Tell me about your understanding of RICS Financial Viability in Planning/Valuation of Development Property

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12
Q

Tell me about your understanding of incorporating affordable housing
into development appraisals

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13
Q

What is an S curve?

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14
Q

Tell me about your due diligence when undertaking a development appraisal

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15
Q

What sources of information do you use when undertaking a development appraisal?

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16
Q

How do you calculate GDV/NDV/finance costs/project costs/project timescales etc?

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17
Q

How do you calculate developer’s profit?

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18
Q

What other metrics can you produce from a development appraisal?

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19
Q

What is the difference between a residual valuation and a development
appraisal?

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20
Q

Tell me about software you have used. What are the differences between these and when may one be more suitable than another?

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21
Q

Give me a limitation of a piece of software you have used.

A
22
Q

What is profit on cost/profit on GDV? When would you use one/both of these?

A
23
Q

What is internal rate of return?

A
24
Q

How does IRR differ according to your client’s requirements?

A
25
Q

What is viability?

A
26
Q

What is a Financial Viability Assessment (FVA)? Why would one be carried out?

A
27
Q

What are the key viability benchmarks? What are the key inputs and outputs?

A
28
Q

What is site value for a scheme-specific FVA?

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29
Q

When undertaking a Local Plan or CIL FVA, how is site value defined?

A
30
Q

What happens if a scheme is deemed financially unviable for a developer?

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31
Q

What are the main forms of finance available to developers?

A
32
Q

What are lenders’ current requirements in relation to gearing?

A
33
Q

What is mezzanine finance and how is it priced?

A
34
Q

What information do lenders generally require regarding a property
before agreeing to lend?

A
35
Q

What is the difference between senior debt and equity finance?

A
36
Q

What is a charge?

A
37
Q

Tell me about an external factor which influences the appraisal process

A
38
Q

Explain what the Golden Brick means in relation to VAT.

A
39
Q

What tools do Natural England provide to help developments achieve
biodiversity net gain (BNG)?

A
40
Q

What is BNG?

A
41
Q

What % improvement in biodiversity value should development deliver? What sets out this requirement?

A
42
Q

Explain how the Residential Property Developer Tax works. What rate is the tax at?

Level 1

A
43
Q

Tell me about a development appraisal you have carried out.

Level 2

A
44
Q

Tell me about a sensitivity analysis you have carried out.

A
45
Q

Tell me about where you source information and data from for development appraisals.

A
46
Q

Tell me about how you would assist in the selection of appropriate sources of development finance.

A
47
Q

What are some of the drawbacks of using BCIS as you did at Dyke Road?

A
48
Q

What alternative sources of build costs might you use?

A
49
Q

What are the drawbacks for a per sq. ft comprable valuation such as North Road, Brighton? What adjustments did you need to make and why?

A
50
Q

What did the sensitivity analysis for North Street, Brighton show and how did this affect your advice?

A
51
Q

How did you value the affordable housing at North Road, Brighton?

A
52
Q

What are the pros and cons of using software like Kel Delta instead of producing a long hand appraisal?

A

APC (18 decks)

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