Examples Flashcards
1
Q
Vals, L3, Retail, Guildford
A
Purpose: Asset Valuation (potential disposal)
- Advised the client on the under-rented status of a single-let high street unit after comparing the passing rent to the rental evidence
- Recommended applying the term and reversion method, capitalising using appropriate yields based on similar under-rented evidence with similar unexpired lease terms
- Cross-checked capital value psf to ensure alignment with comparable retail investments
- Advised on MV, with insights to inform the clients decision
2
Q
Vals, L3, Acquisition, Guildford
A
- Advised on residual valuation for a site without planning consent; recommended residential development as the suitable use after consulting with planning teams and local policy
- Established GDV using local comparables, deducting development costs to produce a residual land value
- Conducted sensitivity analysis to assess impact of build cost increases on land value; informed client to guide decision-making
3
Q
Vals, L2, Industrial, Wickford
A
- Conducted a Market Rent valuation using the comparable method
- Collated and analysed rental transactions, adjusting headline rents to net effective rents
- Prepared a report summarising Market Rent, providing client insight for a potential lease renewal
4
Q
Vals, L2, Retail Warehouse, Manchester
A
Purpose: Asset Valuation
- Performed an investment method valuation on an income-generating retail warehouse
- Compared passing rent to rental evidence, discovering an under-rented status
- Used term and reversion approach, selected suitable capitalisation rate (similar under-rented properties with similar unexpired lease terms), documented findings for the client’s use
5
Q
Inspection, L3, Retail, Billericay
A
- Advised the client on market potential for a vacant retail unit with high footfall, suggesting hot food offerings as an optimal use
- Recommended a building surveyor to outline improvements that would attract food service tenants, enhancing property appeal
6
Q
Inspection, L3, Industrial, Wickford
A
Purpose: Portfolio Strategy
- Identified defects during an inspection of an industrial estate unit; documented findings and advised specialist investigation
- Advised prioritising the investigation due to potential repair costs, reporting implications on management and property value
- I gathered all the information from my inspection and the specialist report and advised client to commission a full scope of works and advised on the most urgent repairs
7
Q
Inspection, L2, Lease Renewal, Retail, Appletree
A
- Inspected retail unit compliance with lease terms, documenting minor defects like door painting and ceiling tile damage
- Created a report, advising that repairs be completed before lease renewal
8
Q
Inspection, L2, Valuation, Leisure, Pitsea
A
Purpose: To inform an asset valuation
- Conducted a site inspection to verify layout and boundaries, ensuring site plan accuracy
- Checked surrounding infrastructure, documented findings to support accurate valuation
9
Q
Property Management, L3, Vacant Retail, Long Riding
A
- Managed a vacant property, ensured security, and maintained compliance with insurer requirements
- Advised specialist surveys for structural issues and advised including energy efficiency upgrades for re-letting (does not have an EPC)
- Advised on marketing strategies, including tenant profiles and potential incentives, aligning with client’s strategy
10
Q
Property Management, L3, Rent Arrears, Retail, Wickford
A
- Reviewed lease terms and assessed tenant’s arrears situation (short-term cashflow issue), considering the unit’s quiet location and risk factors
- Advised against forfeiture, recommending a payment plan to secure continuous income
- Structured a payment plan to protect the client’s interests, successfully recovering arrears without tenant loss
11
Q
Property Management, L2, Retail Parade, Felmores
A
- Inspected a shop parade, identified urgent maintenance issues (e.g., lighting, trip hazards), reviewed lease and plans to confirm landlord responsibility
- Coordinated repairs, kept client and tenants informed, ensuring minimal disruption and compliance with safety standards
12
Q
Property Management, L3, Service Charge, Industrial Estate
A
- Reviewed landscaping-related service charge costs, ensuring transparency per RICS standards
- Compiled evidence and explanatory notes to support fair allocation (based on the relative floor area occupied by each tenant), assisting client in budgeting discussions with tenants
13
Q
L&T, L3, Management of Retail Parade, Basildon
A
- Conducted due diligence on lease assignment and advised securing a rent deposit due to the assignee’s limited trading history
- Suggested aligning lease expiries to facilitate client’s redevelopment plans
14
Q
L&T, L3, Breach of Covenant, Wickford
A
- Identified tenant breach (shutters closed, contacted tenant - had moved their business, account in arrears of more than 20 days, unable to reach amicable solution)
- RTL and advised client on forfeiture options
- Advised forfeiture through peaceable re-entry; adivsed compliance with Torts Act 1977 regarding tenant goods left behind (a couple of chairs and a microwave - placed notice on unit giving T reasonable time to collect the goods before proceeding with disposal)
Torts:
- Inspect the property once tenant departed
- Made a record of the goods left behind (chairs and microwave) – took photographs and kept an inventory (with description) of the goods.
- Put up a general goods (section 12) notice to the door of the property after taking back possession.
- Stored all items accordingly and ensure they were not damaged or destroyed, deliberately or recklessly.
- Retained sale proceeds for a ‘reasonable period’.
15
Q
L&T, L2, Lease Renewal, Retail, Cherrydown
A
- Collected lease details, made lease summary of key terms
- Confirmed protection under the 54 Act, and served Section 25 Notice (not less than 6 months, not more than 12 months and not before the contractual expiry date of the lease)
- Negotiated new terms post-notice, coordinated with solicitors to draft the renewal lease
