Quickfire L2 and L3 Case Studies Flashcards

1
Q

Supported Living – York
Acomb

A
  • Development Appraisal
  • 25-bed supported living development of 1- and 2-bedroom apartments
    o Only 50% saleable
    o Costings (three tender prices) – c.£200 psf
    o Homes England Grant - £1M
  • GDV: (£7M)
    o Gathered comparables – McCarthy and Stone
    o Adopted values (£450 psf) (1-bed £250k / 2-bed £350k)
  • TDC: (£6M)
    o Site clearance, residential property on site
    o Land cost £1M (house)
  • Developers Profit 15% of GDV £1M (essentially the Grant)
  • Sensitivity Analysis – different tender prices
  • Only viable due to grant
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2
Q

Residential Apartments – Manchester
Hyde

A
  • Development Appraisal
  • 91-unit retirement living build-to-rent scheme (1 and 2 beds)
  • Client was local authority alongside not-for-profit developer
    o Costings - £100 psf
  • GDV: (£18M)
    o Adopted values – MR (£800 pcm to £1200 pcm) c.6% ARY
  • TDC: (£20M)
    o Site investigation costs and remediation works - £4M
  • Developers Profit – not-for-profit
  • Sensitivity Analysis
  • TDC higher than GDV and therefore unviable £2M negative
  • Development only just commenced recently and didn’t proceed, potentially on the back of our report
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3
Q

Measurement and Valuation: Industrial Owner-Occupied Valuation East Lancashire

A

40,000 sq ft
c.5% offices
2-acres
5m eaves
£50 psf
= £2M

MV2 = £1.5M
MR = £200,000 p.a.

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4
Q

Measurement: Office Property Valuation Leeds

A

10,000 sq ft
= £450,000

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5
Q

Valuation: Industrial Owner-Occupied Barnsley
SPX Flow, Penistone

A

80,000 sq ft
c.10% offices
£25 psf
= £2M

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6
Q

Valuation: Residential Market Rent Leeds
Elland Road, Houses

A

3-bed terrace
AST
£700pcm = £8,400 pa

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7
Q

Valuation: Industrial Estate Investment Hull
Tower House Lane, Hull

A

13 units
1,250 sq ft each
Rent £150,000 p.a.
£6-£8 psf
Yield 9%
= £1.6M

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8
Q

Valuation: Out of Town Retail Investment Hull
Pets at Home

A

10,000 sq ft
£95,000 p.a.
6.5 years unexpired
RR 4 months

MR = £100,000 p.a.
Voids 6 mth marketing
3 mth rent free
7.5% and 8.5% Yields

= £1.2M

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9
Q

Valuation: Industrial Owner - Occupied Valuation Accrington
Former Rosso, Haslingden

A

60,000 sq ft
c.30% offices
£2M Refurbishment
Warehouse £75 psf
Offices £100 psf
= £5M

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10
Q

Valuation: Trade Counter Investment Scarborough
Salter Road, Scarborough

A

10,000 sq ft
50/50 retail - workshop
3 years unexpired
£45k p.a.
MR £50k p.a.

7% and 8%
Voids 3 months both

= £500,000

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11
Q

Valuation: Owner Occupied Industrial property in Huddersfield?

A
  • Purpose-built commercial vehicle workshop
  • 25,000 sq ft GIA
  • 1.5-acre surplus
  • £125 psf
    MV1 = £4M
    MV2 = £3.2M
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