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Case Study Flashcards

(16 cards)

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1
Q

What is the address of the unit?

A

Unit C, 38 Peregrine Road, Hainault, Essex, IG6 3SR

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2
Q

What was the size?

A

4,921 sq ft

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3
Q

There are 7 key pieces to remember!

What was the units specification?

A

Steel portal frame construction/ brickwork
Glazing
Steel-clad upper
Up-and-over roller shutter door
First floor office accommodation
2 WCs
5 parking spaces

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4
Q

Three key issues!

What were the key issues?

A
  • Return property to most lettable state/ Market Appraisal
  • Tenant Selection
  • Negotiating
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5
Q

What were the three main issues to do with the market appraisal?

A
  • Advising on works (mezzanine removal)
  • Establishing market rent (occupation comps)
  • Marketing strategy (3rd party websites, trade occupiers)
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6
Q

What were the three main issues to do with the tenant selection?

A
  • Market Testing (rejected first proposal)
  • Covenant assessment (management accounts, D&B)
  • Permitted use (B1(c), B2, B8)
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7
Q

What were the three main issues to do with negotiating the HOTS?

A
  • Rental (£14 to £15)
  • Incentive (rental due from commencement)
  • Break clause
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8
Q

What was the date on the HOTs?

A

5th October 2022

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9
Q

The landlord was…

A

Paul Croll & Colston Trustees as Trustees of the Curtis Bank SIPP

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10
Q

The tenant was…

A

Chigwell Window Centre Limited

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11
Q

The headline rent agreed was…

A

£15.00psf / £73,815 per annum

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12
Q

The term for the lease was…

A

5 years straight on FRI lease

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13
Q

The incentive was…

A

3 months rent free / rental deduction from the first year’s annual rent

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14
Q

The lease was in or outside the 1954 Act?

A

Outside

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15
Q

Terms on alienation…

A

The tenant will be able to assign or sub-let the whole premises only.

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16
Q

Terms on alterations were…

Study These Flashcards
A

Structural & external prohibited, internal non-str. allowed with LL consent

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