SREC Level 2 Flashcards
What was included within your report?
Feasibility Report
- Executive summary
- Competitor analysis
- Demographic analysis
- Market commentary
How did you analyse competition?
Feasibility Report
- Researching all the self storage operators in the immediate proximity and then also looking at the stores in the nearest city which is Portsmouth
- Collecting key information about the property and summarising it in a table
- Secret shopper method to benchmark rental rates for the area
What did you include in your SWOT?
Feasibility Report
S – Lack of competition
W – Not the most affluent area – affecting rental rates
O – Relatively low cost to refurbish
T – External market conditions changing – inflation etc
Did you consider for alt use?
Feasibility Report
Not within the scope of instruction – Self storage expertise were needed to inform their decision but I’m sure the client would have considered other options themselves
What was the strategy of the rugby club and how did this impact the options you considered for them?
Rugby Club
- Rugby clubs strategy was to release capital to invest in various other projects and initiatives
- Impacted the way I considered alt uses for the site and potential pricing and timeframe that each would produce
Can you talk me through your rugby club offer advice?
Rugby Club
- I advised the rugby club accept the offer on the surplus piece of land as a strategic solution to raising much needed capital for their business
What were the details of the offer?
Rugby Club
- Freehold purchase subject to planning for £4,250,000 (exclusive of VAT)
- £850k an acre
Why was there time pressure?
Rugby Club
- Offer was on the table now
- Rugby club was in need of funds to invest into different areas of their business
What alternative use did you consider?
Rugby Club
- Looked at comps of fitness club developments
- Sports land
- £2m an acre with a consented resi scheme – advice from resi land team – unlikely and long expensive time frame
