Questions to answer in your report (you may copy the questions into the report without this adding to your word count for added clarity)
1) Write a brief external building description of a local property of your choice that you have inspected externally. Include labelled photos you have taken yourself and provide the exact address of the property. Ideally this would be a commercial property but if there are lockdown restrictions you may use a residential property. Hint: ensure to use the appropriate construction terminology as well as analysing and then describing the functional aspects of the building such as the entrances, car parking, number of stories, use, landscaping etc. Photos should be labelled detailing what aspect of the building they are showing eg: ‘front elevation accessible from Shakespeare Street’. You can find examples of this particular style of writing in agent’s particulars which you can find on portals such as CoStar or EGi. We will also be looking at these in class.
2) Measuring: a) Assume that you are valuing an office building. You have found comparbles based on the Code of Measuring Practice’s Net Internal Area (NIA) but have read the Red Book which states you should be measuring using International Property Measuring Standards (IPMS3) unless your client requests NIA in their instruction. Analyse the difficulties you may have here and how you may overcome those. b) Your subject property has the following features. Are these likely to result in the IPMS area exceeding or being smaller than the NIA equivalent? Reference the documents accordingly. An office building with: columns, recessed windows with deep window sills, covered walkways and balconies and a roof garden. 3) Making enquiries, due diligence and valuation approach:
QA2 – Assessment Brief (UG)
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Subject property: Waltons Hotel, 2 North Road, Nottingham, NG7 1AG
carry out an external inspection if possible (do not go inside). Alternatively carry out a desktop inspection using google maps, Street View etc.
a) Provide a map where you have clearly marked down the property (you could use DigiMaps, Google Maps or so for this).
b) Provide an image of the property clearly stating if this is a photograph you took or the source if it is not your own.
c) Research whether the hotel is: – In a conservation area or on the edge of one (name the area) – Is the property listed? If so which grade. Which organisation decides on this? – Go onto the appropriate planning portal and find the property. State which planning authority is responsible for the subject property – List any planning applications (and their reference numbers) that may have been made in the past five years – Is it rated (by the VOA)? If so what is the ratable value? – Is it in a flood risk area? – What is the current use of the subject property and who is the occupier?
