Pack

Question 1

Val 2A - Supermarket, Skipton

Answer 1

Job info as expected…
Acquisition (prospective investor)
9.67 years to break
14.67 years to expiry (new lease)
Rack-rented

All-Risk yield - Expected the investment to be steady yield (due to constant rental income) did this with the consideration of the additional associated risk by adjusting the yield.

I applied 5.5%

Question 2

Val 2B - Industrial Workshop, Rochdale

Answer 2

Info as expected (no mention of roof)
Disposal
Owner occupied
Comparable method
Dated and poor location
Adopted appropriate cap rate (decided on £25psf)

Question 3

Val 3A - Office, Knowsley

Answer 3

Accounts Purposes (Fair Value)
Low risk tenant
2.75 to break / 4.75 to expiry (recent so rackrented)
Established business park
Modern construction
Short break (I actioned it - due to tenant informing us of fast expansion)

Term and reversion method
6 month void
*3 month business rates (due to rates relief @0.499)
*6 month re letting

Applied 9% term / 10% reversion

Question 4

Val 3A - Multi Industrial, Rochdale

Answer 4

Accounts Purposes (Fair Value)
16 tenants (94% let)
AWULT 4yrs break / 4.9yrs expiry
67% income to mid/high/? Covenants
19% under rented

Term and reversion / to in perp

Compared to other estates

Recommended to not renew two leases and regear 4 ASAP

Question 5

Insp 2A - Mixed-use Portfolio, Chester

Question 6

Insp 2B - Residential Portfolio, Reddish

Question 7

Insp 3A - Mixed-use Preston

Question 8

Insp 3B - Mixed-use property, Cheshire

Question 9

Meas 2A - Industrial, Trafford

Question 10

Meas 2B - Office, Manchester

Question 11

Dev 2A - Residential Land, Chorley

Answer 11

Reserved matters planning consent
Historic outline application
Client provided accom schedule, build costs, timeframes and sales period.
Cross checked build costs
Collected new build sales
Determined finance (7%), abnormal costs (S106 - pre app £1,600 per dwelling & Road/site works), sales fees (2.5% agency / 0.5% Legal) , prof fees (on GDV @ 16%), contingency (5%)
Sensitivity also undertaken

Question 12

Dev 2B - Commercial Land, Bedfordshire

Question 13

Dev 3A - Industrial Land, Cheshire

Question 14

Dev 3B - Train Station, Northwest

Question 15

Loan 2A - Industrial, Warrington

Question 16

Loan 2B - Multi-let Industrial, Cowan Bridge

Question 17

Loan 3A - Multi-let Industrial Estate, Holmes Chapel

Question 18

Loan 3B - Mixed-use property, Hale Barns

Question 19

Data 2A - Supermarket, Northwich

Question 20

Data 2B - Mixed-use Commercial, Manchester

Question 21

Plan 2A - Town-centre, Trafford

Question 22

Plan 2B - Commercial Development, Manchester

Question 23

Sust 2A - Industrial, St Helen’s

Question 24

Sust 2B - Train station, Northwest