Inspection Level 3 Flashcards
What was you Bexleyheath example?
Bank
Bexleyheath bank
How did you know there was strong retail presence?
- limited vacant units
- high footfall
How did you deduce it was a secondary location?
On inspection
- lower footfall
- more independent retailers
- higher vacancy rates
what is a hard frontage?
lack of window or gazed frontage
- less display space which impact value
how would a hard frontage impact value?
Negatively
- impact area to display
how did you account for the hard frontage
Would have looked at comps
- Discount -2.5%
How would location impact the zone a rate
- better location = increased zone A
what was in the comparable evidence table
- address
- tenant
- transaction (hierarchy)
- date
- rent
- zone a (net)
- any comments
what typical defects would find in a bank?
Dry rot
Wet rot
Tile slippage on the roof
what value would you put on the upper parts for subletting?
- look at comparable evidence
what was you PBSA example?
Mansion Place
Mansion Place
What is the market norm of ensuites and studios?
Ensuites 12-16 sqm
Studios 20-28 sqm
Actual
9-11 sqm
11.5-17.5 sqm
Describe the structure of Mansion Place
Structure
- Arranged over 6 floors
Construction
- Built in 2020
- Brick elevations with partial bay windows
- Pitch tiled roof.
Was Mansion Place a HRB?
No less than 18m and only 6 storeys
how did you identify that there was limited communal offering?
Compared to other schemes
- only had a study area
Why is proximity to Unis good?
- commands a higher retail point as students prefer it
What did you advise on the smaller room sizes?
That they would likely command lower rental points when compared to other schemes
What discount would be likely for the smaller room sizes?
Between £5-10 depending on the comparables
What did you review prior to undertaking the inspection in Nottingham?
- Establish the purpose and client need
- ToE
- Desktop investigations incl. risk assessment
- Due diligence checks
- Flood risk
- Planning
- Read lease
- Title and tenure - Lone working policy arrangements
What was the amenity and specification like for Mansion Place?
Amenity offering
- Common area in foyer with foosball table
- Cinema room with 10-person capacity
- Laundry room
- Cycle store
Specification
- High spec
- LED lighting
- Modular bathrooms
- Plastered ceilings
- slightly dated
