Case Study Questions

Sole Agency – only one agent

In the terms of engagement which were signed prior to starting any work

• Joint Agency – two or more agents sharing a fee
• Multiple agency – any number of agents but on the successful agent gets the fee

• Listing marks and celebrates a building's special architectural and historic interest, and also brings it under the consideration of the planning system, so that it can be protected for future generations.
• Restricts potential development and works at the property. Planning shall be required before any alterations are made.

• Grade I buildings are of exceptional interest, only 2.5% of listed buildings are Grade I
• Grade II* buildings are particularly important buildings of more than special interest; 5.8% of listed buildings are Grade II*
• Grade II buildings are of special interest; 91.7% of all listed buildings are in this class and it is the most likely grade of listing for a home owner.

• Historic England awarded the building its Grade II listed status for its “unusually complete” records, and for its historical character.
• There are two parts of the building with significant historical interest.
• The oldest part is dated from at least as far back as 1584, when it was a farmhouse, owned by Thomas Wickens, a yeoman of Brenchley.
• In 1724 a turnpike was extended from Woodsgate to Kippings Cross, meaning there was a higher quality but tolled stretch of road. The site of the Blue Boys was positioned at the start of the free to access, and much more treacherous road.
• In 1765 the house became a fully licenced inn, registered under the name ‘Blue Boys’, for its most regular customers.
• One day the inn was said to have hosted a royal visitor. George IV, the then prince regent (de facto sovereign) was travelling between Penshurst and Bedgebury. He and his accompanying guard stopped at the inn.
• His postillions – the riders accompanying the coach – were said to have worn royal blue livery, which was the identifying uniform.

A3/5

Will require a change of use application in order to use the property for alternative uses.

• I assessed the Turnover, Pre-tax profit and net worth.
• The company is relatively small with a net worth of £300,000.
• Profits test of profit being 3 x the annual rent.

• Competence
• No conflict of interest

Money laundering reporting officer would report suspicion to the National Crime Agency

No, as this is an offence in itself in which you can go to prison for 5 years and receive an unlimited fine.

• Money Laundering, Terrorist Financing and transfer of Funds Regulations 2017 – as amended 2020.
• RICS Professional Statement – Counter Bribery, Corruption, Money Laundering and Terrorist Financing , 2019

Adopted by the highways

• Check on land registry
• Speak to the local authority

Tunbridge Wells Borough Council

• Upon receipt of full facts, consider if the conflict is irresolvable with your impartiality uncompromised and should be avoided or whether it can be managed.
• If you are satisfied that that your impartiality is not threatened, you must disclose the nature of the conflict, the circumstances surrounding it and set out in your proposals how the firms proposes to deal with it.
• Ensure both parties can make their own decision on whether they are happy with the conflict
• Request informed consent from both parties causing the conflict
• Set up an ethical / info barrier

• To reflect the how the first floor and basement is less valuable as this is no sales space.
• Spoke to agents who specialise in drive thru and got their view.
• Checked to see how the VOA had valued the space – 30% discount to first floor and 75% discount to basement

• Location
• Prominence
• Site area / car parking spaces
• Accessibility (north and south bound or just one way?)
• Specification
• High volumes of traffic

• Initially approached by Mcdonalds who offered them a £150,000 pa.
• Landlord them began to demolish the Old Blue Boys in create a clear site that McDonalds could have dropped them building on.
• Local residents applied for the building to be listed to stop the works which was granted.
• McDonald’s pulled out of the deal as they required a clear site.
• No decided they wanted to get rid of the site and at the same time were approached by Saxby Limited and Burger King.
• Offered £100,000 which was accepted as the vendor was unadvised and was losing money on the property.
• After agreed terms with Burger King, KFC offered a rent of £150,000 however it was too late.

As rent would not reflect market rent until 2028, potential purchasers would factor in the reversionary nature to a lessor extent.

A lot of drive thru property have RPI/CPI linked 5 yearly rent reviews usually with a cap and collar

Take away the incentive amount from the total rent received until the first lease event. Dive this figure by the number of year to the first lease event and then by the sft of the property

New build so built to a good spec. Also located in the south / south east. Also a very prominent unit, good access

• Both sold within the last 9 months
• Reviews both to OMV
• UXP of subject property fell between the two so provided a good gauge
• No break options

• Also known as best bids, it is a method that is often to conclude a private treaty sale.
• Not legally bindings, either party can withdraw at anytime
• Provides control and flexibility
• Used when high interest

• Subject to a valuation and board approval and therefore was more risky
• Longer timeframes

No, not qualified.

• Replace and improve glazing and frames of windows
• Consider mounting wind turbine
• Consider ground source heat pump
• Consider solar water heating
• Consider solar panels