Inspection - Level 3 Flashcards
Under what purposes was the inspection of the office property that you had just been instructed on to dispose of?
Agency purposes
What kind of photographs did you take for marketing purposes?
Photographs of the office space, common areas and building facilities
How did you document the condition of the office space?
Grade B spec. 18,000 sq ft of fully fitted office suite with 120 desks and 8 meeting rooms with 2 kitchenettes. I checked that the M&E was working and asked the site contact to put on the air-conditioning to ensure it sounded okay. I also checked the toilets to ensure they were in good running order
What detail did you put in the leasing particulars?
30 Gresham street is a striking landmark City building totalling
c400,000 sq,ft, completed by Land Securities in 2003. It is the global
HQ of Investec and the UK HQ of Commerzbank.
Fully fitted suite
Four pipe fan coil air conditioning
Fully accessible raised floors (150mm void)
Metal tiled suspended ceilings
Impressive double height and dual access reception area
Eight 26-person passenger lifts
Bicycle storage with shower and changing facilities
‘Very Good’ BREEAM rating
Back up power generator
What information did you detail about the surrounding area?
Prominently positioned on the southern side of Gresham Street,
opposite the Guildhall.
Public transport facilities serving the heart of the City are:
Bank - 5 minutes (approx)
Moorgate - 8 minutes (approx)
St Paul’s - 4 minutes (approx)
Cannon Street - 7 minutes (approx)
What were your conclusions on marketability and how did this tie into the leasing strategy for the client?
The floor could easily be split into 8k sq ft and 10k sq ft for smaller requirements as the layout of the office allowed for this. We aimed to target budget requirements looking for space asap, 10k sq ft requirements who would be open to split, and requirements who were on a budget as the space was being let at £52.50 sq ft on an assignment (£20 per sq ft cheaper than market rent).
What was your advice to the client?
We aimed to target budget requirements looking for space asap, 10k sq ft requirements who would be open to split, and requirements who were on a budget as the space was being let at £52.50 sq ft on an assignment (£20 per sq ft cheaper than market rent).
What was the outcome?
The space is currently still on the market, but has a lot of viewings.
What are common defects in an office building?
Damp penetration at roof and ground floor level
Water damage from burst pipes or air con units
Damaged cladding
Cavity wall tie failure
Efflorescence
