Coursework instructions: Faraday House is owned by your client, the University of Salford. The property is located on the A6 Salford Crescent, with Crescent House located to the east and the former Salford Police Station located to the west. The subject site is no longer required by the University and as part of the Salford Masterplan and redevelopment of the A6 into Manchester, your client is seeking your advice on the disposal of the property. ( THIS SHOULD BE DONE IN A VALUATION REPORT STRUCTURE) THE INFORMATION BELOW GIVEN EXPLAINS WHAT NEEDS TO BE DONE. THE REPORT SHOULD BE 2,500 WORDS( CALCULATIONS IS NOT PART OF THE WORD COUNT. I HAVE WRITTEN BELOW THE MARKING CRITERIA MAKE SURE EVERYTHING IS ANSWERED AND ALL CALCULATIONS ARE DONE FOR FARADAY HOUSE I WILL SHARE WITH YOU THE FARADAY HOUSE FLOOR PLANS GIVEN TO US AS WELL AS THE LAND REGISTRY DETAILS. THE MOST IMPORTANT THING IS TO ANSWER AND GIVE GUIDANCE ON SEVERAL PROPOSALS INCLUDING : • The value of the property in its current condition using a traditional investment method approach (Term and reversion) YIELD= 6% • The gross development value of the property if it is redeveloped into a modern office block. You should use a discounted cashflow approach that will allow you to build in appropriate expected growth rates, void periods for conversion and equated yields (DCF or short-cut DCF) Growth rate = 4% yield= 8% • The value of the site based on an alternative use that will likely gain planning permission having regard to the plans for the wider area. You should undertake your own research to establish a suitable alternative use and apply a valuation method appropriate to the chosen use. (For example Car park with a nice green space, or student flats) think about different options to advice for the client and justify why Give professional advice. You should provide your client (university of Salford) with appropriate advice which may include disposal of the property, retention of the property or combining the site with adjacent sites to look at a wider redevelopment proposal. THE report should consider the requirements of RICS Valuation – Global Standards 2020 VPS3 and any other necessary guidance. Your client is able to provide floor plans of the property along with Land Registry details for analysis. (all will be attached and given of faraday house) I will attach these files to the writer of the floor plans of the property and the land registry details. You have to write a valuation report Answering all three main points including value of the property using a traditional investment method approach (term and reversion/ the gross development value of the property if it is redeveloped into a modern office block. You should use a discounted cash flow approach that will allow you to build in appropriate expected growth rates, void periods for conversation and equated yields, and third point is The value of the site based on an alternative use that will likely gain planning permission having regard to the plans for the wider area. You should undertake your own research to establish a suitable alternative use and apply a valuation method appropriate to the chosen use. (For example Car park with a nice green space, or student flats) think about different options to advice for the client and justify why. NO PLAGIRISM. HARVARD STYLE . Bibliography page needs to be included all reference list Harvard style (APA 7th Edn) Please note that the calculations will not form part of the word count. Word count= 2500 words Assessed intended learning outcomes On successful completion of this assessment, you will be able to: 1. Develop awareness of the procedures and processes for the valuation of complex and specialised properties. 2. Understand and critique the contemporary growth explicit investment calculations 3. Develop the competence to carry-out and evaluate specialised and complex real estate valuations 4. Design and apply models/techniques for real estate investment decision-making relating to specialised and complex properties. 5. In-depth understanding of valuation theories and methodologies/techniques 6. Appreciation of complex valuation situations 7. Critical thinking 8. Problem solving and decision-making 9. Communication and engagement You should write a 2,500-word count report. • The calculations will not form part of the word count. • Your advice should be presented in a professional style report and not exceeding the stipulated word count. PRE-SUBMISSION CHECKLIST and SOURCES Before submitting your assessment, ask yourself the following questions, just to be sure you’ve met all the requirements: • Have I correctly referenced all the sources which I have used? • Have I used Turnitin to check my referencing and bibliography so that my tutor knows where I have found all my information? • Have I completed the assignment within the word limit and/or stated my word count? • Have I used a spell checker and proofread my work? • Make sure that you define any key terms used in the report. • You must clearly demonstrate that you have read around the subject. This includes a range of types of information sources including books and journal articles (do not rely solely on web-based material). It is important to include alternative views. A selection of sources has been provided at the end of this document. FORMAT All submissions should have a cover sheet identifying the module, the date and the student’s roll number. In addition to the in-text citations, all submissions shall have a reference list (and an optional bibliography), listing the sources used in the preparation of the report. [The School has adopted the Harvard system (APA 7th Edn) as standard. Grades are given in the following bandings: (Marking criteria and descriptors explained from pages 6-8) Structure of the report 10% Research undertaken in relation to the subject site, the alternative uses that would be suitable (bearing in mind the Salford Masterplan and the Local Planning Authority’s views) 30% Valuation Calculations 20% Strategic advice given to the client bearing in mind the findings from the earlier research, taking account of both the feasibility and financial viability of the proposal(s) 30% Clarity of expression, presentation, conclusion and standard of referencing 10%
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