Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

APC > Summary of XP Qs > Flashcards

Summary of XP Qs Flashcards

1
Q

Please explain the T&R technique

A

1) Identify Income Flows
I used the lease to establish the passing rent. I then used market comparable to establish the market rent. I also established the reversion would take place at the rent review date.

2) Capitalise Term
I used a Years purchase calculated from comparable yield analysis to capitalise the passing rent for the remaining number of years.

3) Capitalise Reversion and defer using the PV of £1

I used a yield derived from the comparable analysis, reflecting risk, to capitalise the Market rent

4) Add together to give single capital sum

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is a SWOT Analysis

A

A Strategic Planning tool showing the strengths , weaknesses, threats and opportunities,

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is a Gannt Chart

A

A Project Management Tool illustrating work completed over a period and the timescales of owrk over ap period

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What did you learn from the RICS Development Appraisal Webinar?

A

I learnt about the imputs of an appraisal, what to account for and how to evaluate the evidence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

How did you Value the Ransom Strip Land on the Fareham Site?

A

From the Case Law Stokes vs. Cambridge, I knew a Ransom Strip can create an up lift in Value. typically in line of 15-50%. of the Development Land Value.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Was WW Site a Red Book Valuation?

A

It was Exempt under VPS 1, but I used the RB for guidance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What steps did you take to mitigate the Flood Risk on the AL site?

A

I consulted a Engineer who specialised in Flood Strategy. they advised on how the angle of the site could be used for flood mitigation. I factored in the cost of this into the appraisal.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is included in your employer’s lone work Policy?

A

Employ buddy system.
fully charged mobile
Risk and Hazard assessment carried out

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What was the purpose of the Wayleave Agreement?

A

to facilitate access for installation of maintenance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is the difference between an easement and a RC

A

Easement is a registerable Right which benefits the owner of a parcel of land

an RC resitrchts a land parcel’s use

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is the Zoning Method

A

Zoning is a Valuation Tool
used for the comparision of retail properties to create a unit of comparision
based on halving back principle- value depreicates futher away from Zone A

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Please describe the S106 Negotations you undertook?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is the Registration Gap?

A

The registration gap’ is a phrase used to describe the period in a property transaction between the date a buyer and a seller agree to complete the sale and purchase of a property, and the date the buyer is registered as owner of the property at the Land Registry.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is Judicial Review

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is Valuation Uncertainty?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Please describe the T&R Valuation Method you used?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

So, you had in mind a figure for the residual land value that you wanted to get to and then
adjusted the profit percentage to align with it?

A

Certainly not. My assessment of profit was based on the risk profile of the scheme. It was a
low-risk scheme due to the high demand for the product and low unit numbers.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What percentage would be higher – profit on Cost or profit on GDV?

A

Profit of costs would be a higher percentage than that on GDV.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What is the main piece of legislation concerning planning

A

Town and Country Planning Act 1990.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What else?

A

Localism Act 2011

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

What other legislation relates to Planning

A

The National Planning Policy Framework 2012, amended 2019 and 2021.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Does the NPPF have a presumption in favour of Planning?

A

No, it states the presumption in favour of sustainable development

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What databases do you use for Residential Valuation Work?

Are there any problems with these?

A

Rightmove and the Land Registry

Delay in data published, Prices on Rightmove are values are not necessarily achieved.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What databases are used for commercial comparables?

A

Co-Star, EG

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Is this information reliable
It should be checked with the agents to verify transaction details, e.g. lease details
26
What would you need to do to set up your own RICS practice?
1) Inform RICS of Firm Detaiils 2) Arrange PII- including Run Off Cover 3) Set up Complaint's Handling Procedure 4) ensure CPD is up to date
27
Tell me about a planning application which you have been involved in, outlining the statutory duties required.
I was involved in the prep of an outline application. including S106 undet TCPA 1990
28
What information has to be prepared in advance of the submission of a planning application?
Location Plan (1:1250 or 1:2500). Site Plan (1:500 or 1:200). Drawings 1:50 or 1:100 to include floor plans, sections and elevations.
29
How long does a planning authority have to determine the application?
8 weeks – minor 13 weeks – major 16 weeks – major with EIA
30
Outline the appeal system for planning applications which have not been determined in the required timescale or which have been refused.
Appeals can be heard by: Written statement (the most common form). An informal hearing. Planning inquiry (for large or complex schemes). If an appeal is dismissed it can be challenged in the high court on a point of law.
31
What are the differences in the information required between an outline and detailed planning application?
Outline requires submission of reserved matters which must be approved prior to consent. 3 yrs to submit and further 2 yrs to gain consent FP 3 yrs to commence development
32
Tell me about the Use Classes Order.
governed by the Town and Cuntry Planning (Use)
33
Tell me about some proposed changes currently being considered in respect of planning
Levelling Up and Regeneration Bill, currently in the Commons BF Land prioritised for development penalties for developers delaying to build approved homes
34
What is a S.106 payment? When do they arise and what is the significance for a developer?
Fixed Agreements negotiated on a 1-1 basis: contributions based on 3 poit test: necessity directly related to development reasonable in terms of scale nad type of development Developers must make these payments at speified points to gain permission for the development
35
Tell me about some negotiations which you have had with a planning officer.
HR S106 Negotiations
36
What environmental and other impact assessments have you been involved with? When are they required?
Flood Risk, AL Site
37
What considerations did you take into account when assessing the reduced price for the residential development in Fareham?
Established Market Value, spoek to AH providers to check how they discounted their assets, applied accordingly
38
What were the advantages of the land at roundabout, Fareham for light industrial or retail use
In attending the LPA examination, community feedback supported employment use for the site.
39
Please explain the Hardcore/Layer Method
Draw Diagram
40
How would you value a rack-rented property where the comparables are overrented?
41
What was contained in your design and access statement/development principles document
Site Contextual Info Planning Opportunities and constraints Development proposals
42
What is In-Tend?
procurement software bidding platform
43
How did you discount the sales for the LHA?
I would do this on a scheme by scheme basis. In this case, I applied a discount rate to the GDV, based on evidence in the market. This evidence came from speaking to AH providers who had worked on recent similar size schemes to gain their expertise.
44
Did you reccomend bids to the Client?
No, unethical under s3) EAA 1979
45
Why did you reccomend withdrawing from the market on the multi-phase development
inflation at reached 11.1% with further uncertainty in the Market, it would not achieve my Client's objectives under S123 of the LGA 1972
46
What is the purpose of a Valuation?
47
What is the full name of the Red Book
RICS Valuation Global Standards (Red Book Global)
48
Talk me through your Industrial Valuation
Internal Purposes: Used Comparable Method T&R to establish Market Value advised of market strength, yield and comparable
49
Talk me through your retail valuation
Loan SeucirityPurposes: Used Comparable Method T&R to establish Market Value advised of market strength, yield and comparable
50
Talk me through your residual Valuation
Comparable Method used to establish sales revenue from proposed unit mix build costs, planning costs, Contingnecy, Professional Fees, Developers Profit
51
Is there any Guidance on measuring NHS Land
52
How did you weight your comparable evidence?
I analysed the factors, considering what a prospective tenant would make allowance for and weighted these accordingly for example- one lease was 7-5 year approach- had to use the rent by 5-10%
53
What are the most up to date RPI and Inflation Figures
11th May 2023 interest 4.5% RPI/inflation 10%+
54
How did you verify your SWOT Analysis was Accurate
I asked a Senior Colleague for a Peer Review of my findings prior to reporting to the Clent
55
Why did you ultimately advise against the Development of CM?
I had a high contingency (10%), extra cost from increase in BCIS costs, costs, create new access route, ultimately outweighed the financial benefits of the scheme
56
What changes to Valuation process are you aware of?
RICS valuation review – consultation focusing on DCF valuation closed on 12th April 2023.
57
Were there any ethical issues on dealing with the LPA in your case Study
No, I followed the correct procedure, procuring TOE and Due Diligence, and keeping a record of correspondence with the LPA
58
Why not Formal Tender
I concluded this was not suitable to achieve Client objective of Best Value
59
why not PT?
there was a market appetite for a competitive bidding process
60
How did you address the issue of TPO's
I consulted a team of Planners & Urban Designers to plot the RPZ so Developers could account for this
61
Why would you not accept an Overage Clause
the Clause was based on achieving a significantly higher Floor area than the LPA would accept, the scheme was also not viable.
62
Did you advise the Client which offer to accept?
No, I scored bids recieved and provided these to the client. I did not advise on the bid to accept as this would be unethical under EAA 1979
63
What is the current Finance Rate for Development Appraisal
National Firms Average finance rate is 7-8%, one outlier is based on what the Client’s were able to achieve in the market 11%, interest rates
64
what were your contract negotiations on HE
Covered timings of developer's payments, if needed to defer from S106, access to site etc.
65
Why do you refer to a residual appraisal
this was an error I only noticed after my submission.
66
What did you do regarding the easement on WR?
My interpretation was the right of access was no longer required as the beneficiary had constructed an alternative access. I then advised my Client to seek legal advise on whether this could be extinguished.
67
What Guidance did you adhere to when measuring your Industrial Units
RICS Code of Measuring Practice 2015
68
Please Explain PDRs
for some development, PP is not required, the PDR 2021 has created Class MA which introduced right to change use from Class E to Class C3
69
What Constraints were on site for PF
TPOs and RPZ., used Planning consultant to mitigate these
70
Why did you withdraw the site at HE from the Market?
The market volatility caused by the Mini Budget pushed inflation to 11.1%, the offers recieved did not reflect the
71
WHat is included in your Risk Register to HE?
Risk identified, description, impact of risk on project, risk owner, mitigation strategy
72
Outline the principles contained in Management of Risk 2017 and Development Management 2009
RM 2017 outlines definition Risk and strategy for dealing with project Risk DM outlines stages of DM: 1) Phase of Development 2) DA 3) Planning 4) DF 6) Procurement
73
outline your walkability CPD
Outlined the sustainable criteria of making developments more walkable Case Study: Poundbury
74
What is included in the Sustainability Report 2021
Increased Demand for Green Buildings, some place 10% up lift in Value, but 47% reports only a modest rise. Client demand is driving ESG Investment
75
What did you learn from your return to the Office CPD
Although there has been a return to the office, there has been an increase for demand for High Quality Office space
76
What do you understand about MEEs
From 1st April 23, all commercial buildings with existing leases now require EPC Level £ from 1st April 2023. Exemptions are defined as: High cost exemptions 7-year payback exemptions All improvements made exemptions Wall insulation exemptions Consent exemptions Devaluation exemptions New landlord exemptions
77
What is the Bichard Review
The Review, published in June 2022, made 36 recommendations in seven key areas relating to the purpose and governance structure of RICS, providing advice on values, culture and strategy. RICS has accepted all the recommendations. Reccomndations included: Governing Council is currently implementing a new composition of Council to better reflect the geographic location and disciplines of members. There are Governing Council elections taking place in April 2023. The management structure of the RICS has been changed with two new boards set up- the Standards and Regulation Board and the Management Board. A new Regulatory Tribunal reports to the Standards and Regulation Board. * RICS has recruited Diversity, Equity & Inclusion (DEI) and Sustainability Panel Chairs to lead these priority issues as part of their new governance structure. * RICS has announced in April 2023 a package of support to promote and drive member engagement, experience, and value. Initiatives will include some free CPD events, networking events, working with Matrics, and an ‘improved customer experience’.
78
What is IMPS All Buildings 2023
The International Property Measurement Standards (IPMS) coalition published the latest standard in January 2023 – IPMS: All Buildings * IPMS: All Buildings supersedes all previously published IPMS standards for individual asset classes into one harmonised standard. IPMS: All Buildings is applicable to all types of building irrespective of their use or their occupation. * An updated version of RICS Property Measurement guidance is expected that will take into account the new IPMS: All Buildings standard.
79
What was your advice on TW
Reasonable for loan purposes
80
Did you include any special assumptions in your Valuation
Yes, that there was Vacant Possession
81
What was the measurement
NIA Basis, Code of Measuring Practice, in metric units and converted to Imperial
82
What are the new Classes under Town and Country Planning Use Classes Regulations 2020
Class E Class F1- learning and non residential instution Class F2- local community A4 now Sui Generis
83
WHat did you advise about the Retail Market
VR 15.8%
84
factors considered
12 month marketing period- outside of Prime area
85
Whatr Yields applied
Term: 6.5% Reversion: 7.5%- reflecion of RIks
86
What did you include in your risk analysis in hE
Likelihood and Impact of RIsk using Risk Register, I then used the RR to monitor the risk as it was passed to a Contractor.
87
Was your Office Unit a Red Book Val
It was exempt under the rules included in PS 1 of the Bred Book. but I adhered to this for Gidiance
88
what were yields on industrial Vals
half a point more, it was under rented but a strong industrial market was in place, a degree of risk but mitigated.
89
Was your Havant Val Red book,
No but was adhered to at Client's request
90
Which Part of RB relates to secure lending
VPGA 2
91
What does VPGA 2 state
any involvement with asset stated to lender cannot act if have been involved in last 2 years
92
What does VPGA 10 Cover
Material Uncertainty: Val cannot be misleading, Valuer should draw attention and comment on any issues resulting in material uncertainty-e.g. COVID
93
Outline Hardcore/Top Slice method for overented proeprties
1) Capitalise Rent (hardcore) into perpetuity 2) Capitalise topslice (difference between market rent & hard core rent) will start from revision into perpetuity, this defers as appropriate 3) sum the two capitalised values

APC (13 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions