Leasing & Letting

Question 1

Level 1 Legislation SofE

Answer 1

RICS Prof Statement: Code for leasing business premises (2020)

Estate Agents Act (1979)

Commercial Real Estate Agency (2016)

CAT B fit outs

Question 2

Office acquisition - Blythe Valley Park

Answer 2

1. Occupier instructed us to find them a new OOT office for 2026 (in line with their current lease expiry)
2. Before accepting instruction I completed CDD (AML & conflict checks) and then received signed terms of engagement.
3. Met with the client to discuss exactly what they were looking for: location radius, specification, amount of parking, etc - established their business objectives of ESG and recommended existing option as better for environment.
4. Circulated requirement on Office Agents Society and researched office space online (Rightmove, Zoopla, etc) - confirmed rent, rates, s/c with agents
5. Created a offices options report, showing all available options and suggesting a meeting to discuss
6. Included some D&B options in case they changed mind but also discussed risks with AFLs (planning, time, developer bust, contractor bust)

Question 3

Warehouse - Digbeth, Birmingham

Answer 3

1. New instruction so completed KYC, AML and conflict checks / then received signed terms of engagement
2. Industrial estate directly off Birmingham City Centre providing small c 500 sq ft starter units
3. Client wanted all new brochure, marketing, and wanting to go ‘far &wide’ while keeping costs low - looked for advice
4. Advised on professional photography but in house brochure. Also, suggested letting board given the busy adjacent road.
5. Posted final marketing details on media (Rightmove, LinkedIn, etc)

Question 4

Office, Halesowen

Answer 4

1. Instructed to dispose of a 2 storey office building in Halesowen - it had recently been refurbished to CAT A spec because it had sat un-refurbished and vacant for some time.
2. New instruction so completed relevant CDD and received signed terms of engagement
3. Instructed to market leasehold and freehold - client was private investor who was motivated to remove vacancy
4. 2x offers came forward; clients preference was always to lease so we advised he take that offer - (10yr w 5yr TBO to local insurance firm with good covenant)
5. Tenant wanted to make changes to the layout of the office which we agreed to subject to a license to alterations.
6. HoTs agreed and I followed to exchange of lease and completion

Question 5

Retail unit - Birmingham City Centre

Answer 5

1. Instructed to market and lease a retail unit in Birmingham City Centre
2. My firm had already received signed terms of engagement and completed relevant CDD
3. Following some viewings we received an offer from a start up business looking to use the space as a tattoo studio
4. Liaised with planning team to confirm the use class for Tattoo (Sui Generis) / communicated with client and tenant that a change of use would be necessary
5. Advised an AFL be used on the basis use class is changed.
6. Advised client to request a security deposit given the nature of tenant (start-up)
7. Issued and agreed HoTs and followed process to completion.