Questions on SOE Examples Flashcards
Ethics - 2C Oval Road
What was the property
How big was it
What did it sell for
Retail Premises
557sqft
£120k
Ethics - 1 Farmers Avenue
What was the property
How big was it
What did it rent for
Retail Premises
1,378 sqft
£24,000pa
Ethics - Wayford Bridge Holiday Park
What was the property
How big was it
What was your advise
Holiday Park with commercial Buildings
11 acres
Market value for sale asking £475k and fees structure
Client Care - Land opposite Caston Primary School
What was the property
How big was it
What was your client care?
Development land, with planning for 3 dwellings
0.86 acres
Advise on an overage agreement, the client had a specific time frame to carry out negotiations, we met the short time frame agreed.
Client Care - Land to the east of Shipdham Road
What was the property
How big was it
What was your client care?
Open storage land with an industrial unit
2.5 acres
I ensured specific requirement were detailed in the terms of engagement, which was the special assumption that no contamination was present.
Communication And Negotiation - 85 Prince of Wales Road
What was the property
How big was it
what was the rent
What was your communicating stratergy?
Retail unit
440sqtf
£9,750pa
Active communication and negotiation between both parties, seeking a ‘win win’
Communication And Negotiation - 212 Mile Cross
What was the property
How big was it
what was the asking price
What was your communicating stratergy?
Retail Unit
1358sqft
£325k
limited interest, active listening, seeking a compromise from all parties.
Health and Safety - Warehouse Shipdham
What was the property
How big was it
what was the rent
What Health and safety rules did you follow?
Industrial Unit Distribution
32,000 sqft
£4/sqft (£128kpa)
Followed the designated path ways
Health and Safety - Hall farm heydon
What was the property
How big was it
What Health and safety rules did you follow?
Industrial Unit
Approximately £10,000
Carried out an external inspection due to roof issues
Measurement - 2E Wendover Road
What was the property
Purpose of the measurement
what was the basis of measurement
how big was the property
was there a difference in the measurement in the two types of measurement basis
Industrial Unit on Rackheath Industrial Estate
For a letting
GIA and IPMS 2
4,331sqft
No
Measurement - Mere Street Diss
What was the property
Purpose of the measurement
what was the basis of measurement
how big was the property
was there a difference in the measurement in the two types of measurement basis
how much was the rent
Retail Unit
Letting
IPMS 3.2 and NIA
721sqft
marginal difference, IPMS included columns
£15,000
Valuation - Pinetree business park
What was the property
What was the purpose of the valuation, and how did that effect the valuation?
What was your valuation method
What key lease terms did you have regard to
What was the size of the property
What did you value the property at?
What was the passing rent.
What yield did you apply any why?
What was your fees and how did you calculate this?
What was the structure of the red book?
Where there any assumptions to your valuations?
Industrial Unit in central Norwich
Value was for probate, tax planning and therefore red book and valuation date of death
I used the investment approach, reviewing the lease, focusing on the terms and income received and capitalising the income by an appropriate yield.
Rent, repairing obligations, rent review and break clauses
11,442sqft
£625,000
£64,600 per annum
7.5%
£1,250, our minimum fee is £950, over and above this is calculated on a case by cases basis and reflects the time on the instruction
Exec Summary, Intro, Property description, legal matter, analysis valuation
Services connected, no contamination, no restrictions on title.
Valuation - St Martin Lane, Norwich
What was the property
What was the purpose of the valuation
What was your valuation method
What key lease terms did you have regard to?
what adjustments did you have to make to your comparable evidence
What was the size of the property
What did you value the property at?
What was the passing rent?
What yield did you apply any why?
What was your fees and how did you calculate this?
What was included in your Terms of engagement
how did you verify or cross check your valuation method
Office building in central Norwich
Pension fund valuation for internal purposes (regulatory compliance, investment decisions)
Investment method
term, rent, break clause, repairs, user clause etc
location, repairing obligations IRI vs FRI, condition of the property.
3,720 sqft
£650,000
£53,000 per annum
8%
£1,250 plus VAT and reasonable disbursements
Property, purpose, tenure, basis of val, currency, assumptions, date content, COI, insurance, fees.
The property was valued on a vacant possession basis, cross reference against comparable rate per sqft sale values.
Valuation - Downham Grove
What was the property
What was the purpose of the valuation
What was your valuation method
what adjustments did you have to make to your comparable evidence
What was the size of the property
What did you value the property at?
What was the gross rent?
What yield did you apply any why?
What was your fees and how did you calculate this?
What was your advise to the client?
Industrial Estate of 11 units
For agency purposes
investment method of valuation incorporating comparable evidence
location, condition, size, vacant possession, repairing obligations
9,400 sqft
£415,000
£37,000pa
8% which we derived from comparable evidence
1.5% of the sale price as agreed with the client
I advised the client on market conditions, likely interested parties, a marketing strategy and recommended market and sale value. I also advised on what was required prior to market, EICR, asbestos, EPC
