PTY7PRT - Commercial Properties to Rent in Wellington Assignment

Assignment Task

Scenario

You are an office agency surveyor employed at ‘Phoenix Real Estate’; a London-based real estate advisory firm. Your day-to-day responsibilities include the sales, lettings, and acquisitions of West End London offices for international private investors. You have recently been contacted by Georgina Weston, Investment Director at ‘Elevate Investments’ (your client) and asked to give advice on the possible disposal of Wellington House. Your client is based at 425 Park Avenue, New York, USA. They are long-term investors and are generally risk averse regarding their real estate investments. ‘Elevate Investments’ acquired Wellington House, 21 Sackville Street, London in 2005. Constructed in the late 1980’s, the building comprises 33,000 sq ft (3,065 sq m). Wellington House is now vacant following the recent expiry of the lease for the entire building.

Task

Your client now wishes to dispose of this building and has instructed you to prepare a sales report using the following headings:

1. Conflict of interest check

2. Factors potentially affecting value and marketability of the subject property

3. West End office sector Occupational and Investment market overview

4. Comparable evidence  Rents, yields and price per sq ft

5. General Market Commentary The UK economy

6. Potential purchasers

7. Method of sale

8. Marketing proposal

9. Confirmation of compliance with RICS statements and guidance notices

Your report must critically analyze the subject property, the West End office market, and UK economy and make clear recommendations and conclusions on how your client can maximize their profit through the sale of Wellington House. You must also submit the report with a short cover letter. A SWOT analysis should be undertaken on the West End office investment sector.

As this is a client report you should aim to submit a report that is finished to a high standard of presentation with graphs, charts, maps and photos included. The report should have a professional-looking cover page with photos and color included to create a good first impression. The report should also include detailed executive summary which confirms the purpose of the report and a clear set of conclusions and recommendations.

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