Level 3 examples Flashcards
What is example one for valuation?
- 2 dairy farms with 2 resi dwellings within a village
- secured lending
- comp and DRC
- one farm over capitalised - established by looking at comparables and stocking rate
What is example 2 for valuation?
- Inheritance Tax Valuation (s160 of Inheritance Act 1984)
- manor house, ag land
- holiday lets within manor house - considered annex to property due to limited income from it, and able to find suitable comps
- AST’s - suitable comps, otherwise could have capitalised rental income
What is example 3 for valuation?
Valuation of development site for 8 dwellings
- construction had already started
- residual value
- GDV - professional fees - finance - developers profit
Example 1 for P & S
New build house (Plealey)
- SAP
- Building control
- sold additional 0.16 acres with restrictive covenant
guide £485k and sold £497,500
Example 2 for P & S
- Market Appraisal for 3 bed dwelling with 8.36 acres, stables and garage
- potential planning for conversion to ancillary accommodation
- would not align with clients timescales
- selling with planning permission would provide uplift in value, although negligible after deducting costs
Example 3 for P & S
9.78 acres with stables
- sale as whole or retain part
- erection of a fence to be maintained on 50/50 basis
- sold as whole at the end
LL& T example 1
selling a house - warranty needed - mortgage lenders would not accept warranty
- purchasers had already sold house = needed to move
- in case study = AST for 6 months
LL& T example 2
(Hocknell)
- verbal tenancy - client believed dated back pre 12/7/84
- served s6 (without prejudice) to request written agreement (AHA 1986)
- also served s6 NTQ under ATA 1995
- wished to purchase land subject to their AHA tenancy
- market research - limited comps = applied discount
- could have capitalised rent (income approach)
LL& T example 3
sale of land subject to third party occupation
- established occupied in 2002 (both LL & T agreed this is when occupation began)
- verbal = statutory regulation - s6 NTQ in July 22 = allows for 12 month notice period and expiration in September 2023
Client bought land anyway
Manage Nat Envir. example 1
Client wanted significant amount of capital works - exceeded £20,00 limit for each area (boundaries, air, and water)
- identified what could be carried out for css
- buffer strips along water course
- buffer strips on intensive grassland
- permanent grassland with very low inputs
- take corner out of management
Manage Nat Envir. example 2
provided client with alternative income due to reduction in bps:
- lump sum; bps supported by mid tier
mid tier = most beneficial
(Rosemary Roberts)
Manage Nat Envir. example 3
- client with land adjoining river clun
- pt special area for conservation (further downstream)
- considered impact of farm upstream
- reduce surface water run off into rivers - buffers along watercourse
planning example 1
provided advice re. conversion of barn under class q
planning example 2
client seeking advice for conversion of barn
- class q unlikely as occupied for horses - non-ag
- full planning application req’d - prepared and submitted planning application - overseen by planning colleague
- relevant supporting docs - landscape, design and access, elevations before and after
fee
planning example 3
planning permission for equestrian manege - included applying for change of use of the land
- ecological survey had to be instructed - close to a SSSI
- drainage plan
- pre-commencement discharge of conditions - biodiversity enhancement plan (hedging to be planted, bird boxes, lighting), landscaping plan - slope and gradient of land
