Level 3 - Office Unit, Spitalfields Flashcards
MR, MV and VP. Price psf for each unit. SWOT analysis. Price city fringe location. Short lease terms. Void periods.
How many tenants? “multi-let”
What instruction process is required for loan secutiry purposes in accordance with the red book?
What are the different requirements for different purposes?
What are the different types of specifications?
How does this impact value?
How did you value this property?
Why did you consult internal agents to determine a rent per sq ft for each unit.
This was done following a comparable evidence search (not mentioned within the text).
Why did you apply price bands for the quality of each unit?
Is this red book compliant?
What is a SWOT?
Give an example of a strength
the property’s prime city fringe location, freehold tenure and strong tenant mix
Give an example of a weakness
short lease terms and limited amenities
Give an example of a opportunity
asset management opportunities, including potential residential conversion under permitted development rights
Give an example of a threat
Sumarrise your key factors described in the report
What does prime city fringe location mean?
What are other prime lcoations around the area?
What are subprime locations around the area?
Describe the surrounding area
How does freehold tenue impact value?
What makes a strong tenant mix?
How would a poor tenant mix impact value?
Why are short lease terms a weakness?
How does this impact value?
What do you mean “limited amenities”?
How does this impact value?
What are asset management opportunities?
Why is this an “opportunity”?
What is vacant possession?
How can you vacant possession be obtained?
How does vacant possession affect value?
What is permitted developmnet rights?
Descrive how to apply for permitted development?
How does this differ from traditional planning?
How would you identify if there was an article 4 direction?
Explain how you would use the residual method when exploring the development potential for this property
Why did you use the invesmtnet method?
Why did you assume void periods?
Why did you assume capital expenditure?
Where these assumptions in line with the red book?
Were these assumptions documented in your instructions?
What is market sentiment?
How did the market sentiment relate to your advice that the property provided stronge loan security?
Did you have VP comps?
How were these applied?
