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Applied Valuation and Property Asset Management
KA5019 - Applied Valuation
14 Pages • Essays / Projects • Year Uploaded: 2021
You are required to produce a client report for Lindisfarne Investments Limited (‘LIL’). The landlord of the subject property. Please note that you will be provided with information on a subject property in due course in addition to lease documentation. LIL have just received a Section 26 notice from their tenant, Davisons Management Limited (‘DML’). A copy of the Section 26 notice and lease of the subject property will be supplied to you – please note that these have been created for the purposes of the assessment. Your client is unsure whether they wish to renew DML’s lease, as amongst other things the tenant has been late in paying the rent on the last two quarter days. They are seeking your advice regarding the reasonableness of the terms proposed by DML. They also wish to have a better understanding about whether or not they can oppose the renewal of the lease. Within your report, you should include: 1. An overview of the landlord’s current position 2. Discussion of the reasonableness of the tenant’s proposals for a new lease (in particular, the rent – see points 3-6 below). 3. A brief summary of the office market in the relevant area of Newcastle. 4. Using a table, identification of at least five rental transactions (lettings) for comparable analysis of Market Rent. 5. Detailed analysis of your rental comparables and justification for your choice of Market Rent. 6. A valuation showing your floor area, rental figure per sq m (per sq ft) and annual Market Rent. 7. An examination of the process if the landlord wants to oppose the lease renewal or is unable to agree satisfactory lease terms through negotiation with the tenant. 8. Strategic advice for your client
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