Submissions L2 & L3 Flashcards
Ethics L2
Acquisition: Retail Warehouse Unit
- Acquisition of a retail warehouse unit
- Client asked about the costs associated with developing an unused section of the car park into a drive through unit.
- I recognised the limitations of my professional competence.
- Advised they contact a building surveyor for expert advice. In doing so, I acted within the scope of my professional competence and adhered to rule 2 of the ROC (2021).
Ethics L2
Conflict of Interest Check
- RICS Global Professional Statement: Conflicts of Interest (2017) (3 types:- party/own-interest/confidential conflicts)
- Conducted COI check within CBRE system prior to accepting instruction.
- Notified my client of no conflicts and proceeded to issue TOE.
Ethics L3
Disposal: retail unit, Greater London
- Freehold disposal
- one interested party asked for further information about other interested parties.
- Informed them this is confidential.
- Advised my client that all information be kept in password protected locations.
Ethics L3
Disposal: Confidential Foodstore
HIGHLIGHT THAT IT WAS AN ACQUISITION (MISTAKE)
- Client was writing for IC committee report.
- Requested that I alter my advice. I advised that the evidence was accurate and no new evidence to support a change.
- Acted with integrity and advised my client that I was not able to alter my advise.
RULE 1 of ROC
Client Care L2
Retail Investment Updates
During SC sales, I organise weekly update meetings; Assess progress and track interested parties.
Communications & Negotiation L2
Valuation Yield Meetings
Responsible for reporting monthly to the valuation department.
Client Care L2
Retail Investment: Client Updates
Provide clients with regular market updates, comps schedules and other information. I am responsible for updating transactional schedules and presenting to clients on a quarterly basis.
Communications & Negotiation L2
Presentation Pitch
- Assisted in pitch to sell a dominant town centre shopping centre
- Ensured it was engaging, and that key information was delivered using Graphs, tables etc.
Health & Safety L2
Disposal: Bank Unit, Barnet
BUMS IN BARNET
- Prior to visit, carried out a desktop risk assessment for the site.
- Notified colleagues of my whereabouts and est. time of return.
- Unit had been unoccupied for a while; I inspected with a colleague and undertook a DRA taking caution for hazards.
Health & Safety L2
Development Site
- Ahead of time I liaised with the site manager and completed a risk assessment.
- PPE
- Accompanied by site manager who ensured I followed a route keeping mindful of hazards.
Inspection L2
Disposal Report: HSBC, Twickenham
- Communicated with HSBC inspection team for access.
- Printed relevant documents (GOAD, site plans).
- Key considerations (External/internal state of repairs, size of building and its configuration). Took photos throughout
Upon completion, walked nearby area, updating the GOAD.
Inspection L2
Industrial, Farnborough
- For disposal purposes
- Factors that effected value: State of repair, access, eaves heights, specification
- Using TOUR
Inspection L3
Bank inspection: TSB Whitby
- I identified marks in the basement which I suspected were signs of damp.
- I documented, took photos and contacted my client
- Advised that a building surveyor be contacted to investigate further
- Could breach repairing liability conditions
Inspection L3
Shopping Centre: Basingstoke
- Advising on competing retail schemes in the town (The Mall only competing retail scheme)
- Highlighted Diechmann, Boots and the Post Office for relocations form The Malls
- Advised client to consult with leasing agents
Measurement L2
Retail Unit Disposal: Chelmsford
- NIA - however used zoning method (£90ZA rate)
- Used a laser measuring device
- Annotated scaled floor plans
- Presented to client
Measurement L2
Industrial: Park Royal
- GIA (7,000 sq ft)
- Captured Eaves Height (6m) and yard depth (20m)
- Cross checking measurements with areas provided by the client.
- Check measurements matched those provided
Valuation L2
Comparable Method: HSBC, Bethnal Green
- Key characteristics such as location, specification, condition, footfall, size and competition.
- gathered from internal and external agents.
- Compiled a table and analysed using hierarchy of evidence
- ZA rate of £65
Valuation L2
DCF: Windsor
- Agreed with client assumptions and incorporated into a TS
- I was able to adopt an entry and exit yield.
- Incorporated into cash flow, making relevant assumptions.
- Met their return criteria (IRR 12%)
Leasing & Letting L2
Leasehold Disposal, Liverpool
- 2 years remaining
- Inspected the property, local area, took photos.
- Prepared marketing materials and used websites and erected a marketing board.
- Several offers received; favourable from a well-known company; LL accepted our surrender proposal at a premium below budgeted.
- Surrender was conditional on the new lease to the new party.
Leasing & Letting L2
Acquisition: National retail Occupier
- Find a new store in an affluent southeast location.
- Understood clients’ requirements (rent, floor area, layout).
- Compiled shortlist of towns; established prime pitch and potential units.
- Enquiries to local agents; conducted inspections and presented the best opportunities to my client. Proceeded to agree HoTs.
Leasing & Letting L3
Assignment Bishop’s Stortford
- Acting for TSB Bank who had vacated the premises. Lease did not expire until 2016.
- Consider options other than a surrender as they were seeking a large reverse premium.
- Marketed by way of Assignment; Jennings Bet presented the best terms.
- Client instructed me to seek superior landlord approval
Leasing & Letting L3
Lease Expiry: Anytime Fitness
- Acting on behalf of the tenant, approaching LEX and not willing to renew.
- I confirmed client requirements, Advised client on properties that were suited their requirements.
- One of these was in a better catchment, fitted out to a good standard, with alternative being in shell and core. Client instructed me to make an offer.
Purchase & Sale L2
Acquisition: Foodstore, Milton Keynes
- Conducted COI and AML checks and drafted TOE
- Upcoming lease expiry, so VP scenario analysis
- Likely Morrisons would vacate.
- Acquired property at a discount to quoted as a result
Purchase & Sale L2
Disposal: Foodstore, Worcester
- Short time frame
- COI, AML and TOE
- Private Treaty used and directly approached certain parties
- Provided a proforma containing the necessary information
- Approached active investors.
- SUPR purchased the asset
