Case Study Details Flashcards
(21 cards)
How many allocated car parking spaces did the property have?
6 - total of 50 customer spaces in the scheme and 81 overall
How big was the Unit?
5,405
What were the eaves height?
4.5m
What wasa the passing rent?
£11.88 psf / £64,200 per annum
What was the LL quotign rent?
£25psf / £135,125
What were your clients primary objectives?
To extend tenure at the proeprty on lease terms that aligned with their business plan and to minimise the increase in rent.
What were your three key issues?
Serving Notices, MR valuation and Strategy for Lease Renewal Negotiations
What was the expiry date of the lease?
45717
What is the subject property?
Unit 5, Acrewood Way Estate, Hatfield Road
What was the evidence on the estate?
Unit 2 - Toolstation also had a Mar-25 LR (£20 psf) , CTD had a RR in 2021 agreed at £18.37 psf
CTD Tiles Unit 4 - Size/Eaves height/
3.6m eaves, 7000 sqft
In your s.26 notice, what terms did you propose for the new lease?
10 years with 5th year break clause, passing rent with three months rent free
Who was the landlord?
Courts Nominees Limited
When was the subjet property built?
1977 however reburbished in 2015
What other comps did you consider?
Gworktops - Unit 3 Dencora centre - Jan-25 LR at £21.86 psf (2,786 sq ft) / Edmundson Electical Aug-24 LR at £19.25 psf, 5,000 (one of the units)
What are Dencora Estate?
Units built in 1989, of older construction, steel portal frame and brick elevation, superio eaves heights though of 6.5m but generally inferior esatea
Who were the other units on the estate?
Unit 1 - Halfords, Unit 2 Toolstation, Unit 3 J&S, Unit 4 CTD Tiles, Unit 5 Screwfix, Unit 6 Formula One Autocentre
For indsutrial, why is the best evidence from the estate itself?
Same estate = maximum comparability, Physical characteristics (e.g., loading access, parking) are almost identical, Same landlord’s management style or service charges, Same catchment for labour, supply chains, and customers, Reduces adjustment factors (which valuers want to avoid if possible)
What was the Sphere Estate?
Built in late 80s, eaves heights 5m, consists of mid-sized units, the units are of a steel portal frame construction with brick elevations, occupiers on the esatate include Euro Car Parts, CEF and Wolseley
Who are the occupiers on Dencora Estate?
Gworktops, Edmunston Electrical
What was the assumed term of Screwfix, Toolstation and CTD Tiles?
Screwfix - 10 year assumed term
Toolstation - 5 year assumed year
CTD Tiles - 10 year assumed year
