Inspection Level 3

Question 1

Talk me through your advice on Adjacent Land

Adjacent Land, South East London

Answer 1

• Understanding my clients’ objectives of wanting to dispose the site I included a marketability section within my Valuation report
• Where I advised my client that they should consider exploring the possibility of initiating communications with the freeholder of the adjacent land and explore combing the sale of both sites.
• The rationale of this advice was that based on comparable evidence I have seen in the market, the larger demise and more extensive facilities may expand the purchaser pool and attract a higher sale price.

Question 2

Describe the site

Adjacent Land, South East London

Answer 2

• The site comprises a sports ground located in Chisleurst, South East London
• Broadly rectangular demise, c.19 acre sports field with club house facilities.
• Held Freehold

Question 3

Describe the location

Adjacent Land, South East London

Answer 3

• Located in Chislehurst, South East London
• Bromley council
• 5 minute drive from station
• Surrounding uses included other sports grounds, school and some residential houses

Question 4

What were you considering as you were conducting the inspection?

Adjacent Land, South East London

Answer 4

This was an insepction for valuation purposes so I considered anything that could have a material impact on value:

• The boundary - had a site plan to reference
• The topography - relativley flat
• The surrounding uses - sports ground next door , school closeby ,
• The condition of the clubhouse and any defects

Question 5

How did you consider your safety? Any special precautions for a vacant building?

Vacant Care Home, Bayswater

Answer 5

• Liasied with the property manager about gaining entry
• The property had robust security systems in place to ensure there was no vandalism etc

Question 7

What was your advice to client?

Vacant Care Home, Bayswater

Answer 7

I advised that the marketability of the property would be enhanced if some of the rooms were presented as fully dressed.

This would allow potential purchasers viewing the property to visualise the opportunity, creating a more marketable product.

Question 8

Describe your inspection of the property

Vacant Care Home, Bayswater

Answer 8

1. Consider personal safety - PPE, clarified how i would be gaining entry
2. Local area - walked from tube station, 5 minutes, taking note of the surrounding buildings and amenities within the local area
3. External - looking at method of contruction, condition, any defects, any car parking space, access to home, outdoor courtyard
4. Internal - condition, defects, marketibility, specification, statutory compliance, size of rooms etc