Tell me about ... Flashcards
Tell me about restaurant market appraisal in Notting Hill Gate.
I was asked to procude a market report relating to the marketing and leasing of a restaurant unit in NHG.
Inspected property taking notes on condition, specification and location.
Commented on the London restaurant market - cost of living, increased fit out costs, Brexit making quality staff harder to find.
Checked planning to check planning use and licensing.
Compiled and analysed comparable evidence and advised my client on ERV.
Provided an idea of lease terms and target tenants.
10 year lease.
Break and RR after 5
Rent free 6 months
Rent £70,000 = c.£40psf
Tell me about involvement in restaurant letting Blackstock Road
I inspected and measured the property. Noted that kitchen equipment was to stay and fit out and condition was good.
Compiled comparable evidence schedule which was limited. So I rang agents to and checked internal requirement database to gauge demand and sentiment.
I advised that as the unit was in good conditon that minimal incentives should be required.
I advised that a rent of £50,000 was achievable = c.£25psf
10 Year Lease
Break and RR after 5 years.
Minimal incentives.
Tell me about the Coffee Operator Market Report
I was instructed by a national coffee operator to provide a market report for their unit in London Bridge (Stoney Street).
I provided an overview of the lease and a property description.
I then collected a range of comparable evidence and advised which comparable was most relevant.
I advised that the property was overrented, and with 13-years unexpired remaining that the disposal options were limited.
I checked the lease and assignment (with reverse) or subletting was permitted, and after considering their P&L account of the site that this was preferable and the performance was not sustainable.
Zone A was circa £140 and comps suggested £100 was more suitable.
Overrented by about £50,000.
Tell me about your involvement in the retail market appraisal in Greenwich.
I was instructed to provide a market appraisal on a unit in a mixed use scheme near to the 02.
After inspecting, I noted the area was very quiet, footfall was an issue, and the shape of the units were very irregular due to the zig zag architectural design.
I advised my client that I should target operators with a track record in similar schemes and that any deal could require heavy incentives.
I also highlighted alongside my comparable evidence that although the 02 was nearby, the retail comps would be irrelevant as the pitch was very different.
Tell me about your data management responsibilites for the airport valuation?
I was required to sign an NDA.
I saved the information in folders only I and the team involved could access it which were password protected and encrypted.
I processed the data legally, fairly and transparently.
I used the data for only as long as it was needed.
I verified the cost data was accurate by creating my own cost models using market knowledge.
I then inputted data into the valuation and after the data was no longer needed it I disposed of it.
How did you keep data management principles during the petrol station valuation?
I organised the data in a database.
I cross checked the accuracy against the companies P&L accounts which I downloaded off Companies house.
I analysed the data on Excel and inputted it into the valuation.
I analysed comparable evidence taken from an internal CBRE roadside database.
Tell me about the DCF you ran in the profits method valuation of a car park in Epping.
Profits method relates to valuing the profit of the car park. We were provided with forecast of first 10 years of revenue and cost information.
I built a DCF. - Revenue - Costs
Summed the cash flows and applied an exit yield which I got from comparable evidence to equal an exit value.
I then applied a discount rate which equaled the NPV / Gross market value.
Purchasers costs were deducted to equal Net market value.
Tell me about inspection of PFS in Epping.
Property was in reasonable condition and was in a good location with limited competition nearby.
I walked perimeter and noted that there was a tired above ground fuel tank.
I advised the client that a phase 2 site investigation should be undertaken in order to confirm if there was any contamination present.
I also advised that the tank should be serviced to establish condition.
Tell me about the car showroom inspection in Stourbridge?
Location good but, quality and condition of showroom, workshop and first floor offices poor.
I noted that there was water damage in an MOT area that appeared to caused by a leak due to the building age. There was also condensation on the windows demonstating a lack of ventilation. I took photos and advised the client further investigations would be required.
I also noted that a mezzanine area in the workshop was cordoned off due to instability. Whilst the defect was being managed, I advised the client that a structural engineer should review the damage in order to establish cause and remediation issues.
