Case Study - Lauren Flashcards
(24 cards)
When was the building constructed?
The building was originally constructed in 1977. It was later gutted and fully refurbished to create the terrace of units currently occupied by Screwfix. As the original construction pre-dated the year 2000, I confirmed that an asbestos survey had been carried out, and no asbestos was found to be present.
How did you measure the yard?
Using Edozo
What is the yard depth?
11.5m
What is the site depth?
65m
How did you measure the yard?
Using Edozo
Not appropriate to measure with a laser due to the light/distance
I note that the property has an EPC rating of B – did you consider this within your discussions/ what was the impact?
EPC - A-D (Comparable)
EPC are less critical and less of a driver of value for industrial values for industrial properties as they often have lower energy demands, MEES however still apply.
EPCs are less likely to influence rental levels or occupier choice in basic industrial units.
When you inspected, what external features did you note?
Method of construction
Loading & Access (Yard areas, HDV access, loading doors)
Yard depth for HGV manoeuvrability
Defects – Condition of the cladding
Walk round the boundaries to ensure everything matches the title plan
Environmental consideration: any obvious signs of contamination or site drainage issues which may impact valuation or future use.
What was the eaves height? Did this impact your ERV?
4.5m - no as lots of comps have similar
Due to the nature of trade counter typically only require modest eaves heights because of their intended use, blending retail-facing functions with light storage or distribution.
Trade counter estates often sit alongside light industrial or retail parks, and tall buildings might not be suitable or permitted in those settings.
Smaller eaves help the units integrate better into mixed-use urban areas.
How did you measure the property? Were there any offices? How did you measure the offices? Why did you measure them GIA if they were office?
GIA
No office
If there was office content, why would you measure it in GIA?
Because it was ancillary space and the use class was for industrial
How did you get from GIA to GEA?
2-4%
How did you calculate your net effectives?
(Odey case) 3 months fit out
How did you manage to negotiate a break when the existing lease didn’t have one?
Comparable units had a break clause so highlighted this was inline with the market standard.
What were some of the things you considered to get your ERV?
Market Evidence (recent lettings/quoted rents)
Physical characteristics of subject – Size, eaves height, number of loading doors, yard depth, office content, condition
Location & Accessibility – proximity to major roads/motoways, local employment, availability of parking, accessibility for deliveries/customers
Lease terms assumed in the ERC – term length, rent review pattern, incentives, repair obligations
Tenant Demand and Supply – local vacancy rates
Why did you advise them to serve a s26?
The market rents were rising so I advised them to serve a s.26 to protect their position
What was the alternative? (to serving s.26)
Wait to see if the LL served a s.25, informal negotiations or hold over
Were there any risks after serving a s26? When would LL have to oppose?
LL could oppose new lease under grounds 30
2 months to oppose
“While serving a Section 26 notice can protect the tenant’s renewal rights, it also introduces risks—particularly if the tenant fails to apply to court in time or if the landlord opposes the lease. I advised the client to serve the notice only once they were committed to the renewal process and understood the statutory deadlines involved.”
What terms did you quote in your s26?
Passing rent – 3 months rent free
Any risks of serving at passing if this went to court?.
No as not legally binding
Where would you find asbestos in an industrial building?
Roofing - Abestos cement sheets, roof tiles or slates
Insulation - around pipes, boilers or ducts
Given this unit was built in 1977, prior to any works, what should be carried out?
A proper Asbestos Management Survey should always be carried out before any works are undertaken.
What is the site coverage on this site?
45%
What is Yard Depth?
In industrial property, yard depth refers to the distance from the rear or side of the industrial building to the boundary of the yard area, usually measured in metres. It indicates how much open space is available for:
HGV turning and manoeuvring
Loading/unloading
Storage of goods, containers or vehicles
Why Yard Depth Matters:
Logistics suitability: Deep yards (e.g. 30–40m) are preferred for efficient articulated lorry access and turning circles.
Health and safety: Sufficient yard space reduces congestion and risk during operations.
Occupier desirability: Distribution companies and manufacturers often require generous yard space.
Valuation: Better yard configuration can increase marketability and rental value.
What was the use class of your property?
Industrial and storage use classes under the Town and Country Planning (Use Classes) Order 1987
B1(c) - Light Industrial Use
B2 - General Industrial Use
B8 - Storage or Distribution
