Level Two - Example Two (Weybridge)

Question 1

Can you discuss the due diligence you performed before marketing the retail premises in Weybridge?

Answer 1

Due diligence included inspecting the property, measuring it for accurate marketing materials, and analysing comparable properties in the area. This helped determine the appropriate rent and positioning. I also ensured all legal and compliance checks were completed before launching it on the market.

Question 2

What challenges did you face during the marketing of the retail unit in Weybridge, and how did you overcome them?

Answer 2

One challenge was finding suitable tenants for the specific size and location of the unit. Weybridge is a smaller market compared to larger urban areas, limiting potential occupiers. To overcome this, I expanded my marketing reach to online portals and contacted local agents with potential clients, increasing visibility.

Question 3

When launching the Weybridge property, what online sites did you use and why?

Answer 3

I used platforms like Pipnet, Loopnet, and Completely Retail to maximize visibility for potential tenants. These platforms target different segments of the market and allow me to reach a wide audience quickly. I also circulated the details to local agents and directly approached parties I knew were seeking similar spaces.

Question 4

For the Weybridge retail disposal, how did you handle multiple offers, and what factors led to your recommendation of the preferred party?

Answer 4

I received several offers and assessed each based on rental value, financial stability, and lease length. After negotiations, I recommended the offer that was most aligned with my client’s goals of securing a stable, long-term tenant. I communicated the pros and cons of each offer, and the client agreed with my recommendation based on tenant reliability and their track record in the area.

Question 5

What did you include in your marketing particulars?

Answer 5

Location
Description
Rent
Rates
Disclaimer
Map
Photographs
Contact details

Question 6

What is zoning and why do you use it?

Answer 6

Compartmentalising a unit in zones front the front to rear
The closer to the frontage, the more valuable the space, as it typically generates more footfall and visibility.

Question 7

Is zoning a method of valuation?

Answer 7

No, it is a convention - has evolved over the years and become standard practice.

Question 8

Is the zone always 20 ft?

Answer 8

No - Oxford Street, NBS, KHS, Regent Street, all of Scotland - 30 ft