Inspection Level 3

Question 1

What was you Bexleyheath example?

Answer 1

Bank

Question 2

Bexleyheath bank

Answer 2

Question 3

How did you know there was strong retail presence?

Answer 3

• limited vacant units
• high footfall

Question 4

How did you deduce it was a secondary location?

Answer 4

On inspection
- lower footfall
- more independent retailers
- higher vacancy rates

Question 5

what is a hard frontage?

Answer 5

lack of window or gazed frontage
- less display space which impact value

Question 6

how would a hard frontage impact value?

Answer 6

Negatively
- impact area to display

Question 7

how did you account for the hard frontage

Answer 7

Would have looked at comps
- Discount -2.5%

Question 8

How would location impact the zone a rate

Answer 8

• better location = increased zone A

Question 9

what was in the comparable evidence table

Answer 9

• address
• tenant
• transaction (hierarchy)
• date
• rent
• zone a (net)
• any comments

Question 10

what typical defects would find in a bank?

Answer 10

Dry rot
Wet rot
Tile slippage on the roof

Question 11

what value would you put on the upper parts for subletting?

Answer 11

• look at comparable evidence

Question 12

what was you PBSA example?

Answer 12

Mansion Place

Question 13

Mansion Place

Answer 13

Question 14

What is the market norm of ensuites and studios?

Answer 14

Ensuites 12-16 sqm
Studios 20-28 sqm

Actual
9-11 sqm
11.5-17.5 sqm

Question 15

Describe the structure of Mansion Place

Answer 15

Structure
- Arranged over 6 floors
Construction
- Built in 2020
- Brick elevations with partial bay windows
- Pitch tiled roof.

Question 16

Was Mansion Place a HRB?

Answer 16

No less than 18m and only 6 storeys

Question 17

how did you identify that there was limited communal offering?

Answer 17

Compared to other schemes
- only had a study area

Question 18

Why is proximity to Unis good?

Answer 18

• commands a higher retail point as students prefer it

Question 19

What did you advise on the smaller room sizes?

Answer 19

That they would likely command lower rental points when compared to other schemes

Question 20

What discount would be likely for the smaller room sizes?

Answer 20

Between £5-10 depending on the comparables

Question 21

What did you review prior to undertaking the inspection in Nottingham?

Answer 21

1. Establish the purpose and client need
2. ToE
3. Desktop investigations incl. risk assessment
4. Due diligence checks
   - Flood risk
   - Planning
   - Read lease
   - Title and tenure
5. Lone working policy arrangements

Question 22

What was the amenity and specification like for Mansion Place?

Answer 22

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