Submission Summaries Flashcards

Question

SRE L2 - Network Operator Access

Answer 1

I worked with a telecoms operator client to help them achieve 5G upgrade targets I supported a team with a target of 60 upgrades per month A number of these at any given time would be considered ‘blocked’ i.e. a landlord isn’t providing access - could be anything from outstanding renewal/rent review, outstanding rental payments, landlord has their own works, landlord unable to be contacted, landlord has changed etc My role was to remove the blocker This meant building a relationship with the landlord to come to a solution, or leaning on rights within the lease Set up a system to contact all sites one month in advance, this was to confirm correct details, process and advise of plans to attend site Sites that threw up issues were prioritised, or pushed back a month and replaced with a new site This means we had sites ongoing to ensure target of 60 was achievable I was on the project for 3 months and we were able to hit the target each month, including hitting 75 in the final month (end of financial year)

Answer 2

One landlord for the network operator that had over 300 sites (operate canals and rivers around the UK) Generally rural sites with access required through third parties e.g. farms, businesses, pubs The client looked after a team who worked on outages for masts. Outages are big important issue for network operators - really important to fix quickly They identified that this landlord hadn’t been updating access contacts for some years, and were having issues attending sites that had suffered outages Came to Cluttons to resolve over 300 sites ASAP I advised that in my experience, this can often take time to resolve, contacts can be hard to establish, difficult to reach etc Therefore we should prioritise sites - P1, P2, P3 P1 was sites that needed to be attended immediately (outages, new equipment required etc) P2 was sites where access was required in the coming months P3 was all remaining sites We were able to get the client onto all P1 sites (20 or so) within 2 weeks And updated details for all remaining sites within 2 months

Answer 3

May 2024 This was strategic advice to a family portfolio who weren’t property professionals, had their own careers etc They wanted to reduce the size of their portfolio and in particular their exposure to secondary retail assets We had a meeting to define ‘secondary’/the type of assets they wanted to dispose of We concluded that the most important elements were the property’s location/marketability to occupants, the current tenant covenant and the years remaining on the lease. I produced a matrix analysing each property by this criteria Out of 9 retail properties, identified 3 that met the criteria to be disposed of The property they sold was at the eastern end of Godalming High Street, away from the Prime pitch, local tenants, short unexpires leases, no residential element.

Answer 4

This was about saving my client money and aiding their renewal targets Access had been planned (5G upgrade), contractor arrived and the neighbouring site (car garage/depot) had cars blocking access The Landlord had approved access prior but was on holiday and advised he couldn’t deal with the issue until he returned - as such, the upgrade would have to be aborted This would cost upwards of £5,000 I also noticed a renewal was on the horizon, and through previous meetings with the client, I knew timely renewals were of upmost importance, and that new ‘code’ renewals meant these were getting delayed I advised the client that enforcing access rights in a situation like this could damage the relationship with the landlord, making the upcoming renewal a challenge I suggested a one-off payment to appease the Landlord and have the situation resolved Contractors were able to get on site, saving £5,000+ in abort fees, and potentially saving time & lawyer’s fees on the renewal further down the line Renewal completed in a timely manner

Answer 5

Open Storage Yard - 1.3 acres (56,000 sq ft) Owner Occupier Had received offers for the site produce a residual value using coverage ratio of neighbouring scheme - site coverage 53% - 7 units between 5,500 and 8,000 sq. ft - total 47,000 sq. ft 3-month lead in, 18-month build, 6-month letting, sale GDV 23.5m (£500 psf) Build costs £150psf (£7.1m) Demolition £200,000 Contingency £28psf lettings, 5.25% yield Finance 9% Profit on cost 15% (total costs TDC) 10% professional fees 15% letting fees 1.5% disposal fee CIL & MCIL Sensitivity construction vs rent Then you also have purchaser costs (against the residual value) report NET development value for commercial

Answer 6

Local Authority 6 flats - two 1-beds, four 2-beds GDV 2.7m Build costs provided by client £225 psf + demolition £10psf Cross-checked with PBC team BLV 750k (book value) professional fees 15% Contingency 5% Marketing/sales 2% CIL & MCIL Profit on GDV of 17% (470,000) Profit on cost 31% 3-month lead in, 15-month build, some presales and 3-month sell Sensitivity analysis showed 5% fluctuations in build costs and sale values (viability diminished)

Answer 7

20,000 sq. ft Grade II Listed Large columns, one set of WCs, 28 basement parking spaces perimeter trunking, suspended ceilings, comfort cooling. Reasonable specification for locality but dated Comparative method - owner-occupied and unlikely to attract investor (not let) market dropped off 15% prior 12 months, 40% prior 24 months Concluded £125-140 psf (£2.5m-2.8m) Market could keep going down

Answer 8

Compare residual industrial vs residential 850 sq. ft Industrial 350k (400psf) Build costs £230psf profit on cost 15% professional fees finance CIL & MCIL (minimal) marketing and sale Residual 100k Residential GDV 550k (650psf) Profit on GDV 15% professional fees finance CIL & MCIL (minimal) marketing and sale Residual 200k let to maximise GDV

Answer 9

During my work with a telecommunications provider client, I had access to the client’s portal which contained important information about thousands of telecoms sites including lease information, access procedures, landlord contact details and historic/current site issues. I was required to update information in accordance with the client’s policies, carefully verifying data before inputting it into the system. Where data appeared to be missing, I was instructed to gather the required information and update the client records. I recognised the importance of accuracy, and ensuring information was organised and clear, as this was central to the client’s operations and used across their business.

Answer 10

During my valuation work, I regularly use my firm’s internal database to gather and record comparable evidence. I appreciate our internal processes when gathering data from resources such as CoStar, Rightmove and EGI. I ensure that any information I input into the system is verified with the relevant agents so that colleagues accessing the data have an accurate and reliable resource. I am also aware that, when using evidence from the database, I should ensure the information is correct before proceeding. Where information is missing, I ensure to update this and provide my source of information, such as property brochures and conversations with agents.