Level Two - Example One (St James's)

Question 1

When did you start your AML and/or conflict of interest checks?

Answer 1

Prior to accepting the instruction.

Question 2

Was there anything you would regard as high risk for this client?

Answer 2

No.
Signs to look for:
- Wanting the process to happen quickly
- Avoiding giving information

Question 3

Talk me through how you inspect a property?

Answer 3

• Due diligence - planning, EPC, Creditsafe
• Location -
• External - building, what occupiers might be around, what sort of market it is
• Internal - specification

Question 4

What use class was the building?

Answer 4

E

Question 5

What would you expect the rents to be on this building?

Answer 5

Blended - £113.00 psf

Question 6

You assume profit on cost, but what other return metrics could you use

Answer 6

TBC

Question 7

You targeted 20% profit on cost, is there anything that would have meant you would increase or decrease this target profit level?

Answer 7

Higher / Lower Build Costs
Contingency

Question 8

What did you include in your offer letter?

Answer 8

Address, purchaser details, vendor details and agents, solicitors details, price, funding, deposit, timescales, any conditions, date, “subject to contract”, who pays for any costs.

Question 9

Was your offer subject to any conditions?

Answer 9

• Measured Survey
• Unclaimed Capital Allowance to Purchaser
• Building Survey

Question 10

What changed between first and second round bids?

Answer 10

• Smaller group of bidders
• Best and final bids

Question 11

What conditions would you expect to see in a typical offer letter?

Answer 11

TBC

Question 12

What type of tender process were you involved in here?

Answer 12

Informal Tender?

Question 13

Would you ever expect a sale process to evolve from informal tender to private treaty?

Answer 13

TBC

Question 14

What was the build cost?

Answer 14

£300 psf, on space and £350 psf for additional massing.