Level 2 Examples

Question 1

Tell me about 31 a King Street

Answer 1

Letting instruction

1500 ft.² retail property over two floors

Six year FRI lease agreed with local tenant

£22,000 per annum

Three year tenant only break

£38 ITZA

Obtain sign terms of engagement
Inspected the property
Measured the property
Carry out a marketing report
Marketed the property
Negotiated with perspective parties

Question 2

Tell me about ground floor suite Gleneagles house

Answer 2

Ground floor suite within larger Georgian property

1500 ft.²
£12 per square foot achieved
Five year lease
Three year tenant only break
Three month rent as a deposit

Obtain instructions
Auntie money laundering checks
Obtained some terms of engagement
Inspected and measure the property
Marked the property
Negotiated with interest
Vetted tenant covenant strength

Question 3

Tell me about 79 Trinity Square

Answer 3

Obtained sign terms of engagement
Inspected and measure the property
Review the leases
Valued the property applying a yield
Property was rack rented
Late restoration/early Victorian property
Located in the old market Square conservation area
Tertiary retail location in Nottingham city Centre

Ground floor flat for £34 in terms of zone 17,500 per annum

Floors lap for £7 per square foot

Purchaser was an investor pension fund

Estimated sale price £325,000 7.7% yield

Eventually, sale price was £300,000 8.34% net yield

Question 4

Tell me about 115 London Road

Answer 4

Three story Georgian property

Locally listed

Lead marketing campaign

Inspected and measured the property

Private treaty sale

Handled enquiries

3000 square-foot NIA

Investment method for value as is

Comparable method for value subject to change of used to residential

Yield applied 9.5% factoring void cost.

Question 5

Tell me about your lady Lee works example

Answer 5

Obtain instruction
Obtain sci terms of engagement
Existing client
Splitting of rating assessment from one to 9 units
Use the government gateway portal to carry out a check case
Submitted evidence to the VOA including a schedule of floor plans annotated site plan
Schedule of the accommodation
Photographs
Copy of the leases

Question 6

Tell me about your corn exchange, Belper example

Answer 6

Existing client
Obtaining instruction
Obtain sign terms of engagement
Inspected the property measured
Merge of three assessments into one
Carried out a check case on the government gateway portal
Which included evidence of work carried out
Material day
Photographs
Schedule of work carried out

Property Victorian former corn exchange Ford facing Gables

Question 7

Tell me about your unit 18 Northedge example

Answer 7

Lease renewal
Established industrial estate
Obtained instructions
Obtained on terms of engagement
Read the lease
Inspected and measured the property
Valued the property using the comparable method
Property was under rented
Non-hostile section 25 notice was served

3500 ft.²
£7.50 per square foot previous
Agreed at £9 square foot in line of the market

Question 8

Tell me about your unit six the Fulcrum

Answer 8

4400 ft.² industrial unit
Obtaining instruction and terms of engagement
Read the lease specifically the rent review clause
Measured and inspected the property
Value the open market rent subject the rent review clause

Assumptions
Unexpired residue five years
Without premium
Vacant possession
Existing use of the property, B2 B8
Tenant had benefited from rent free period

Disregards
Tenant Goodwill
Tenant fit out
Tenant improvement on rent

Question 9

Tell me about your fibre Stone Brook Hill pinxton inspection

Answer 9

Inspection for RICS Redbook evaluation report for pension fund purposes

Obtained sign terms of engagement

Carried out a risk assessment prior to inspecting the site

Upon the risk assessment noted potential asbestos, lone working and potential for PPE due to existing use asked for asbestos report.

Noted on inspection
Unit located on main spine road which serve the estate
Good access
Noted specification
Construction
Noted defects
Site coverage
ESG matters ability to retrofit to future proof
Inspector general area to get to Phil for vacancy rates and type of occupiers
Hazardous materials
Potential to cause ground contamination
Any vegetation noted

Two main warehouse bays and office accommodation

Constructed around 1970s

Unit was 35,000 ft.²

On a 2 acre site.

Question 10

Tell me about your James W industrial estate inspection

Answer 10

Red Bull valuation market rent for lease renewal purposes

Modern industrial unit on small industrial scheme with four units

Noted
Description of the property
Specification
General construction
Use
Any potential or uses
General condition and any defects
Any restrictions on access which there was
Service is connected to the site
ESG and environmental matters
Any contamination
Any signs of dangerous substances or materials
Site coverage
Vegetation, if any
Any tenant fit out to be disregarded
Any signs of minor entries
The general characteristics of a local and surrounding area

2800 ft.²
Access was restricted as only access was down a narrow residential street
Van and car access only
Made an adjustment when providing opinion of market rent
No other comparables on the scheme available.

Question 11

Tell me about your Brunel Parkway evaluation

Answer 11

Redbook valuation
Market rent market value for pension from purposes

Obtain instruction
Obtained our terms of engagement
Competence check
Conflict of interest check
Inspected and measured the property
Valued the property having read the lease and use the comparable method and investment method
Property was rented
Applied and yield of 7.5% to the passing rent
Sense checked against vacant possession sales on a rate per square foot basis

Rental range from comparables was 1350 to 1450 per square foot

Applied at the top end of this range 1450 due to popular small lot size and good quality unit

Yield range from 7.5 to 8% applied at the lower end of this range good quality local tenant popular a lot size good quality Office.

Question 12

Tell me about your Nether Lane Belper evaluation.

Answer 12

Existing use valuation
Redbook report for internal decision-making
Rural location

Obtaining instruction
Obtain signs of engagement
Carried out risk assessment
Inspected and measured the property

Noted value affecting factors
Poor quality unit
Good access to the site
Good size flat and level yard
Only 20% site coverage approximately 1.5 acres of extra Overland
Use the comparable method
Applied a rental rate of £3 per square foot to unit
Applied the rate of £25,000 per to the extra Overland
Applied all risk yield of 9%
Factoring in location levels of supply demand characteristic of the site
Checked values against vacant possession sales to ensure that appropriate yield was adopted.

Question 13

Tell me about your 19 Nottingham Road example

Answer 13

Redbook valuation for pension from purposes

Provided market rent

Two story retail property located in Ripley a market town in North Derbyshire

1100 ft.²

Question 14

Tell me about your Derby Road Milford example

Answer 14

Obtained instruction
Carried out risk assessment
Had regard to the RICS professional standard surveyor safely

Risk assessment noted
Likely require requirement to have personal protective equipment due to ongoing refurbishment works of the property
Seeked clarification from the client

Went on site and had to sign in and sign out

Undertook health and safety induction from contractors

Was made aware of emergency exits and emergency procedures

I remained diligent when on site.

Question 15

Tell me about your 39 Dale Road, Matlock example

Answer 15

This was a letting instruction of a retail property in Matlock

A popular market town in North Derbyshire.

Property was let to a new limited company

Although there was an existing trading business in Belper.

Due to lack of covenant strength requested six month rent deposit and direct guarantees.

I negotiated with the tenant over the telephone and then formalise these discussions in writing.

I put forward the offer to my client in writing and followed up with a phone call to discuss.

I am sure communication with my client having agreed an update meeting every two weeks with more contact upon interest or queries.

Ensured I had sign terms of engagement and my client was fully aware of the fee basis fee structure terms of business, ect.

I used a principal approach when dealing both with the tenants and the client.

Ensured that I was clear in my communication, I was polite, I listened carefully, I was respectful.

Question 16

Tell me about your lodge Lane Kirk Langley instruction

Answer 16

This was a letting instruction of a workshop property in Kirk Langley, which is a rural location approximately 5 miles west of Derby.

Treated all parties equal equally I did not discriminate irrelevant of someone’s age religion race, gender, or any of the characteristics

Was a timber framed workshop property

Had regard to the RSCS rules of conduct
And RSCS professional standards, such as the RSCS code for leasing business premises

Carried out conflict of interest and competence checks

Adhere to the irrelevant legislation such as the estate agents act 1979

And Anti money laundering regulations

Question 17

Tell me about your Repton Road Wellington example and why are you declined this instruction?

Answer 17

I carried out a conflict of interest check

And I noted that the firm two years previously had carried out evaluation in relation to the same lease and the same property for the tenant and there was an existing business relationship between the tenant and the business.

Having had regard to the professional standard conflict of interest, I didn’t feel the conflict would be managed and it will be the best interest of both parties for me to not act on the matter.

I therefore kindly declined the instruction explaining to the landlord why, and I recommended another surveying firm who I knew had good local knowledge of the market and will be able to provide a confident valuation for the client.

Question 18

Tell me about your Kingfisher house, Ilkeston measurement

Answer 18

Have an obtained instructions and agreeing terms of engagement with the client which included the basis of what the measurement would be taken

Are reported on a dual reporting basis on net internal area and IPS 3.2

I measured the property on the floor by floor basis and sketched out the property using graph paper

For net internal, area I measured to the internal perimeter wall

For IPS 3.2 I measured to the internal dominant face which on the first floor was different to the internal perimeter wall to vary slightly.

I used a calibrated disto.

Question 19

Tell me about your AG trading estate measurement

Answer 19

I measured the property according to gross internal area.

I used a calibrated Disto.

I took measurements of the clear internal height, internal eaves height, external eaves height and height to mezzanine. I also took measurements of the loading door.

1500 ft.²
5.5 m eaves

Question 20

Tell me about your unit B Salcombe Court example

Answer 20

This was a red book valuation report for potential acquisition purposes

I obtained instructions
Terms of engagement
Carried out risk assessment
Had regard to RICS professional standard survey safely

Main area of risk was working in an empty building

In order to mitigate this

I diarised my appointment in my calendar, so my colleagues were aware of my whereabouts

I arranged a call with my colleague upon vacating the site.

I made note of emergency exits in the property

Question 21

Tell me about your unit five pinnacle Way pride Park example

Answer 21

This was an agency instruction for letting of the property.

Adhering to rule two of the RSCS rule of conduct I carried out a competence check.

I carried out a conflict of interest check

I made sure I fully understood my client objectives prior to accepting the instruct.

I obtained sign terms of engagement from my client to make it clear on expectations of both myself and the client.

I agreed a communication and feedback strategy.

Ensured I adhered to the relevant legislation suggest the estate agents act.

I carried out anti money laundering checks.

Question 22

Tell me about your 67 Bridge Street, Belper example and how you provided good client care

Answer 22

This was an agency instruction

I made sure that I fully understood the clients objectives prior to accepting the instruction

Carried out competence and conflict of interest check

I obtained sign terms of engagement set expectations with my client

I was clear on the fee basis and terms of business

I agreed a communication strategy which was a call every two weeks offering a meeting with my client regularly if they required .

I ensure that I seek feedback from a client through throughout on areas where I could improve .

I ensure that I listened .

Are communicated clearly provided regular updates and reported all Office to them in writing.

Upon the end of the instruction, I issued the standard client feedback form to assess my overall performance and see areas where I could improve.

Question 23

Tell me about how you provided good client care in your unit 23 Park Centre example

Answer 23

This property was a read book report for pension fund purposes.

I sent out clear terms of engagement to my client, which was transparent on the fees and Tom scales of the report .

I met the agreed time scale within the set within the terms of engagement and upon completion requested feedback from the client to identify any areas of improvement .