Leasing and Letting Qs Flashcards
Talk me through your advise for the commercial tenancy at Buckminster Yard
I marketed the unit following the previous tenant vacating, I recommended a tenant which would complement the existing tenants at the Yard. This tenant required some works doing to the property including changing the flooring and making the space open plan. I advised my client the change in flooring would be a long term improvement to the property so I recommended them to pay. The open plan space is more of a unique requirement so I suggested the tenant pay. I also advised my client to give a 2 month rent free period to allow the new tenant time to establish a new customer base
Why is it important for the new tenant to compliment existing tenants in the yard
Originally the yard was offices but my client wanted to ensure new tenants were public facing businesses. Existing tenants included a shooting simulator and haberdashery shop so a new deli would complement these
Why did you advise a rent free period for Buckminster Yard
I advised a 2 month rent free period to allow the tenant time to establish a new customer base
Talk me through your advise for the new FBT in Stonesby
After serving the current tenant notice to quit, I undertook an analysis of the holding and found it to be under rented. I advised my client on the new rent based on comparable figures. I marketed the holding and recommended a local tenant to my client. I advised on a longer term to ensure security for both the tenant and my client
Why did you serve a section 5 notice on the current tenant
Their tenancy agreement had no provisions for rent reviews
Talk me through the rental analysis for FBT at Stonesby
I carried out a desktop analysis looking at the land and buildings separately. I looked at comparables on and off the Estate for the grazing land
