Subs Questions Flashcards
(17 cards)
Bank Acquisition - talk me through it
The objective was to evaluate Stay v Go options due to an upcoming lease expiry.
After agreeing on ToE and completing AML checks, I arranged a call to discuss the client’s key requirements.
I used Agent Society and discussed off-market options with local agents to create a list of available properties based on the client’s size and location requirements (Bank)
I then viewed/inspected several properties from the list with the client.
The client identified their preferred office, and I submitted an offer to negotiate key terms such as rent-free periods.
The offer was not accepted due to competition.
After reviewing budget – decided the most cost-effective solution was to stay put.
What was the requirement for your level 2 Bank Acquisition and what kind of company were they?
Financial Occupier
Requirement:
Stay v Go
Bank
2,000 – 3,000 sq ft
Single Floor
What was the outcome of the L2 Office acquisition at Bank?
Lease Renewed at current office
Can you talk me through your L2 Office Disposal in Bloomsbury?
I was instructed by a landlord to dispose of 7,000 sq ft office in Bloomsbury on a Sole Agency basis.
This was the only floor in the building.
I inspected and measured the property and assessed the internal condition, existing fit-out, local amenities and transport links.
I gathered comparable evidence from similar properties to advise on pricing.
I recommended retaining the fit-out and offering the office as a Plug & Play solution to attract tenants.
I then created marketing particulars and uploaded them to relevant platforms.
I constantly kept the client informed of any progress and have provided updates via bi-monthly calls and the interest schedule.
What are office rents in Bloomsburry?
Rents
Bloomsbury Rents:
Grade A Office Space - £72.50 to £85 psf
Grade B Office Spaces - £65 to £72.50 psf
L2 Office Disposal in Bloomsbury - what was the rent?
£65 psf
What was the outcome of the L2 Office Disposal in Bloomsbury?
Disposal is still going.
Due to my advice and actions, the office has received interest from several potential tenants, which I am continuing to monitor.
What kind of occupiers are in bloomsbury?
Educational, legal and creative
Can you talk me through your L3 Office Disposal in London Bridge?
Talk me through this instruction:
I was instructed to dispose of a client’s 11,000 sq ft office in Southwark on a Sole Agency basis.
The client was acquired by another company and had to relocate.
I inspected and measured the property and assessed the internal condition, existing fit-out, local amenities and transport links.
I analysed the existing lease to understand terms and constraints.
I gathered comparable evidence from similar properties to advise on pricing.
I recommended retaining the fit-out and offering the office as a Plug & Play solution to attract tenants.
I then created marketing particulars and uploaded them to relevant platforms.
I constantly kept the client informed of any progress and have provided updates via bi-monthly calls and the interest schedule.
What were the lease terms of your L3 Office Disposal in London Bridge?
10 year lease
2019 – 2029
H: £59.25
N: £55.40
What was the size and fit out of your L3 Office disposal?
Description:
First floor of a multi-let property.
11,000 sq ft.
Specification:
CAT B – fully fitted
Grade A to B.
Double-glazed windows / AC
What was the outcome of your L3 London Bridge Office Disposal?
Agreed an assignment of the lease - just under the contractual rent.
This disposal is with solicitors
After it is completed, I will then invoice and archive
What were you quoting for the L3 Office Disposal in London Bridge?
£59.50 psf
What are the prime office locations in London Bridge?
Tooley Steet
More Place
What are current office rents in London Bridge?
Grade A office rents are now circa £65 psf, with Grade B at £55 psf,
Can you talk me through your Office Acquistion in canary wharf?
SWATCH GROUP.
Current location: E16 – Royal Docks
Lease expired
Outside the Act
Tenancy at Will
Want to acquire somewhere with security in better location but keep the low cost
£40 psf
Advised to consider assignments and subleases to help achieve more favourable rental terms.
Refined options – conducted financial analysis
HOTs
Property placed under offer
What are office rents in Canary Wharf?
Grade A £50 – £57.50
Grade B £35 – £45
