1
Q
How big is a brick?
A
215mm long
102.5mm wide
65mm high
2
Q
When do PPE gloves expire?
A
Last for 3 years if unopened and stored in optimal solutions
3
Q
What is typical slab to slab?
A
Residential - 2.4 - 3.0 metres (standard)
4
Q
What are typical ratios?
A
5
Q
What was your CPD in relation to DLUHC?
A
‘Increasing Planning Fees and Performance’ (April 2023):
- Effectively saying we support increasing the fees if evidence is provided as to how they will be ringfenced / other issues like under resourcing will be addressed
‘Strengthening Planning Policy for Brownfield Development’ (March 2024):
- Agreed that weighting should be given to the delivery of homes and that planning policy can help, but should be aware of the risks (to ensure low quality housing isn’t being delivered)
- Consideration needs to be given to local infrastructure to support development, as this helps incentivize developers to build there
6
Q
What does the Red Book State about internal valuations?
A
- Internal valuations are an example of a non-Red Book valuation, as it carries no limited or liability
- For internal purposes, without liability and without communication to a third party
- TOE must be explicit about the prohibition on disclosure to any other party / any other purpose / exclusion of liability
7
Q
What does the Red Book say about valuations for inclusion in financial statements?
A
8
Q
What does the Red Book say about valuations for interests for secured lending?
A
9
Q
What part of the Red Book relates to development property?
A
IVS 410
- The RICS Valuation - Global Standards (Red Book) (2021) was published in 2021, which include the International Valuation Standards - IVS 410 relates to the valuation of development property
- The International Valuation Standards (IVS) (2024) were updated in 2024
- RICS Professional Standard: Valuation of Development Property (1st Ed., 2019) should be read in conjunction with IVS 410
10
Q
What constitutes a high risk building?
A
Legislation: Building Safety Act (2022)
Enforcement: Building Safety Regulator
Criteria:
- At least 2 dwellings
- 18 metres
- 7 storeys
11
Q
What are the requirements for high risk buildings?
A
2nd staircase for all HRB from 30th September 2026 under Building Safety Act (2022)
12
Q
How tall is Plot 78 and what is the OLS height?
A
OLS is between 50.3 - 52.5m AOD
Plot 78 55.2m (so just say its 49.5m AOD)
13
Q
What is Lendlease’s data storage limitation period?
A
Under GDPR this is not dictated, you should only store it as long as you need it
If you request to delete personal data, it must be deleted within one month
14
Q
What are typical resi yields?
A
BTR:
Funding: 4.75% - 5.0%
Stabilised: 4.4% - 4.5%
15
Q
What are typical commercial yields?
A
West end office: 4%
City office: 5.25%
16
Q
What are typical industrial yields?
A
5%
17
Q
What are typical retail yields?
A
High street retail: 6.5%
Shopping centres: 8%
18
Q
What is the current inflation rate?
A
Bank of England inflation rate is 1.7% (target of 2%)
Expected to increase towards end of 2024 due to higher household energy bills to 2.5%
It will fall to 2.2% in 2025
19
Q
What is the current base rate?
A
Bank of England Base rate is 5%, it will change on 7th November
It is reviewed 8 times a year
20
Q
What is the current SONIA rate?
A
4.95%
21
Q
What is a finance rate?
A
22
Q
What is the land cost in LL CAs?
A
23
Q
What are in other development costs for LL CAs?
A
24
Q
What were the VE savings in 1D2D townhouses? How did it impact MOC?
A
25
What were the VE savings in 78? How did it impact MOC?
26
What are some recent struggle areas for the RICS?
Lack of Diversity and Inclusion
Memorandum of Understanding (MoU) - 2022:
- 6 leading bodies, RIBS, RICS, RTPI & others
- 45-point action plan to improve diversity & inclusion
- Focus on data collection, improving understanding of transition from education to employment, and EDI standards
27
What are EPCs?
Under Climate Change Act (2008), the government update EPC requirements
- All commercial buildings over 50 sq m
- When newly built, sold or let for more than 6 months (& less than 99 years)
- When newly refurbished and heating / AC / Ventilation services are altered
- If selling or leasing a resi building
- If sub letting / assignment of a lease
28
What are the 5 key provisions of the EPC regime?
1. Higher standards of energy conservation
2. Establishing a calculation methodology
3. Minimum requirements
4. Energy certification
5. Mandatory inspection of boilers / AC
29
What are EPC exemptions?
- Listed buildings
- No heating
- Religious
- Temporary
- Demolished / redeveloped
- Not occupied more than 4 months a year
30
What are penalties in relation to EPCs?
Enforced by Local Authorities Trading Standards
- Resi: £200 fine for non display on marketing info
- Commercial: 12.5% of the RV / £500-£5000 fine for non display on marketing info
31
What are EPC requirements for marketing?
- Commissioned within 5 days (28 days for procurement)
- Agents responsible
- Energy rating must be displayed, and graph if space
- Online marketing must have a link to show front page
32
What must the front page of an EPC certificate show?
1. Address and floor area
2. Reference number
3. Technical information on energy provision
4. Estimation of running costs
5. EPC rating
6. Benchmarking info
33
How long is an EPC valid for?
10 years unless building altered
34
What rating do EPCs have to be under MEES?
E
35
When did new leases / renewals / extensions need an E EPC from?
For commercial and resi, 1st April 2018
36
When did all leases need an EPC E rating from?
1st April 2020 for residential
1st April 2023 for commercial
37
What are MEES exemptions?
- Place of worship
- Industrial with low energy demand
- Tenancy less than 6 months
- Tenancy more than 99 years
- Not feasible (payback over 7 years, 3 quotes must be got)
- Improvements would devalue property by 5%
- When tenant / landlord / planning authority consent is refused
- Some resi (second homes, high / low rents)
Register on Local Authority Private Rented Sector Exemptions Register and renewed 5-yearly
38
What are penalties for non-compliance with MEES?
Commercial:
- If breach lasts less than 3 months (£5,000 or 10% RV)
- If breach lasts more 3 months (up to £10,000 or 20% RV)
Resi:
- If breach lasts less than 3 months (£2,000)
- If breach lasts more than 3 months (£4,000)
39
What are penalties in relation to Bribery?
Policed by Serious Fraud Office
Individuals - £10 years prison / unlimited fine
Companies - Unlimited fine
40
What are penalties in relation to Money Laundering?
Assisting - 14 years prison
Tipping off - 5 years
41
RICS PII minimum requirements
£100,000 or less = £250k
£100,001 - £200,000 = £500k
£200,001 or more = £1m
42
RICS maximum uninsured excess
£10k or less = 2.5% of sum insured, or £10,000
£10.01 or more = No set limit
43
What are Lendlease's minimum PII requirements?
Based on fees:
£0 - £25k = £2.5m (CGIs)
£25 - £99k = £5m (Planner / EIA)
£100k fee + = £10m (Architect)
44
Examples of how I adhere to Rules of Conduct?
Rule 1 - I do not accept gifts / hospitality. I identify conflicts.
Rule 2 - I do not undertake work I am not competent to do. I stay up to date and comply with legislation.
Rule 3 - I understand my client's needs. I understand scope / limitations / timescales of work and produce on time etc.
Rule 4 - Respect everyone and do not discriminate. I check supply chains do not involve modern slavery.
Rule 5 -
45
What are IPMS All Buildings?
IPMS 1 - External measurement
IPMS 2 - Internal measurement
IPMS 3.1 - External exclusive use
IPMS 3.2 - Internal exclusive use
IPMS 4.1 - Selected areas including internal walls
IPMS 4.2 - Selected areas excluding internal walls
46
How does LL enforce against modern slavery?
- EHS GMRs
- Supplier Code of Conduct Policies
- Risk assessments
- Due diligence
- Supplier registration
In the UK, we use SCIP (supply chain information portal) - any risk flags prompt risk screening / due diligence questionnaire) E.g. under Careys there are a list of all incidents, under Cautions it could come up with something
47
How do you convert Sq m to Sq ft?
x 10.10.7639
48
What is Lendlease's Code of Conduct?
- Obey law
- Safety first
- Aware of COI
- Comply with Securities Trading
- Must not make unauthorised gains or payments
- Must not disclose confidential information
- Treat everyone equally and fairly
- Report accurately
- Compete fairly
- Sustainable outcomes
49
What are Lendlease's core values?
- Respect
- Collaboration
- Integrity
- Excellence
- Innovation
- Trust
50
What is Lendlease's CHP?
1. Receive via website or in person
2. Recorded in Complaint's Log
3. Acknowledged within 5 days
4. Resolve
5. Keep updated on progress
51
Give an example of how you managed a complaint in your role?
- Complaint received from resident at EP about noise at night
- Acknowledged it within 5 days and logged it
3. Spoke to Estate Security to get them to walk around site more at night
4. Residents satisfied
52
When would Lendlease undertake AML checks?
When we get into Heads of Terms with retail tenants
53
Are there any new updates with regard to governance?
Appointment of 10 new members to the RICS Governing Council, they will take seats on 1st January 2025
54
What are other RICS updates?
55
Slab thickness?
225mm in most areas
LG and GF are 325mm
UG are 350mm
Roof is 275mm
Core walls 250mm thick
Transfer beams 1200mm deep
56
What are Lendlease's GMRs?
0 - Governance
1 - Investment
2 - Design and Procurement (e.g. each sector has minimum product design standards we have to adhere to, designs must have ROAD reviews)
3 - Establishment (e.g. provide welfare, sufficient toilets, showers and changing facilities)
4 - Delivery
57
What are:
Section 96a (NMA)
Section 73
Article 4 (changing character)
58
What are cycle requirements for ST?
59
What are car parking and car club requirements for ST?
60
What is ST's Energy Strategy?
61
What is ST's Sustainability Strategy?
62
How is ST contributing to UGF and BNG?
63
Tell me more about the facade treatment change?
Cheaper brick
64
Tell me more about the balcony change?
Standardised from Sapphire
65
Tell me more about the window change?
Aluminium to Composite (aluminium and timber)
66
What are NPPF changes?
67
Any new recent Government initiatives under Labour government?
68
What is NHBC's role in Fire Safety?
69
Explain a Yield
Buy a flat for £250,000
Monthly rental income of £950
(Annual rental income / value) x 100 = 4.56% Yield
If monthly income was £1050
(Annual rental income / value) x 100 = 5.04% Yield
Higher the yield, more money you make BUT it comes with a higher risk
70
What is currently happening with mortgages?
The base rate affects mortgage rates
The base rate was cut to 5% in August for the first time in 4 years, following inflation falling to 1.7%
Current average mortgage rate for a five-year fixed rate mortgage is 4.65 and two-year fixed rate mortgage is 4.94%
If base rate drops further towards the end of the year, mortgage rates could drop
71
What are Lendlease's PII that we can send to other firms?
72
What are Lendlease's minimum sustainability credentials?
Commercial:
New Construction: BREEAM Excellent
Refurbishment: BREEAM Excellent
Resi:
HQM 4.5*
All:
EPC A/B
LETI C
73
How much resi space is Silvertown delivering? What is Newham's limit under a Local Centre?
74
What are the GEA, GIA, NIA ratios for office?
75
What are the GEA, GIA, NIA ratios for resi?
GEA --> GIA (-2/3%)
GEA --> NIA (-15%)
76
Is the ectogrid just for heating or cooling, or can it be for electricity too?
77
How is BNG done across a MP?
Each plot has a BNG which doesn't have to be over 10%, as long as whole MP is over 10%
78
When would you use the different basis of value?
Market Value & Fair Value are the same number, but Market Value is for Loan Security, whereas Fair Value is for Accounting Purposes
Market Value and Investment Value are different numbers, Market Value is what it is valued by the market, but Investment Value is what an investor would actually pay for it
79
What would you find on a balance sheet?
Assets and liabilities
80
What would you find on a financial statement?
Profit and loss (revenue and costs)
VT APC 2
flashcards
Decks in class (13)
# Cards
-
Key Case Study Questions128
-
Recent Updates / RICS News19
-
Rules of Conduct Examples (Checked)10
-
Key Legislation (Checked)56
-
Key Professional Standards (Checked)24
-
Key RICS Guidance12
-
Legislation / Prof Standards Summaries9
-
Random Knowledge80
-
Valuation Questions30
-
Development Appraisal Questions25
-
Measurement Questions13
-
Legislation / Professional Standards Descriptions55
-
Measurement Final64
