Scenario:
Role: Trainee valuer for a UK surveying firm.
Client: Tenant of a brick workshop on a small mixed light industrial and office estate.
Task: Negotiate lease surrender with the landlord.
Property Details: Nearing end of useful life, currently leased for a second-hand car showroom and maintenance garage.
Lease Terms: 10-year FRI lease, 3 years unexpired, rent £120,000 per annum, no further rent reviews.
Landlord’s Offer: £10,000 for lease surrender and vacating the property.
Development Potential: Landlord plans to build a data center, with detailed costs and sale value provided.
Tasks:
Discussion on RICS Terms of Engagement (500 words):
Identification and status of valuer.
Nature and extent of valuer’s work.
Development Value and Synergistic Value Calculation (500 words):
Valuation assuming no contamination.
Contamination Discussion (1,000 words):
Potential hydrocarbon contamination from a decommissioned fuel pump.
Evaluation of Lease Surrender Offer (1,000 words):
Assess cost and benefits, options for the tenant, and recommendations for the alternative premises lease terms.
Scenario: Role: Trainee valuer for a UK surveying firm. Client: Tenant of a bric
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