TASK ONE
You have been asked by the partner responsible for retail to sketch a high street and show the occupiers, their trade type and any vacant units, in a location known to you. You should not copy a Goad Plan (or similar) and need not worry about the depth or rear layout of shops, however, you should attempt to accurately show the width of the units. Your sketch should be neat, and hand drawn.
You do not necessarily need to sketch a whole town centre but should seek to sketch a few streets, or areas, to cover around 40 units. You should show pedestrian crossings and other features, put a north point on, and state the location. Mark the traders present by name and also what they do – e.g. Clarks shoe retailers, also mark vacant units and note any agent instructed. Do remember that you will need to copy your sketch to be able to put it in the document that is submitted electronically as your coursework.
TASK TWO
A rack rented freehold bank premises is available at auction. The rent is £65,000 p.a FRI (Full Repairing and Insuring). The team you are working with are unsure whether to apply a yield of 5, or 5.25% to the investment. They have asked you to set out the income flow diagrammatically. They have then asked you to value the property using both of these yields, gross. They have then asked you to deduct purchaser’s costs (assumed to be) 6.8% from the two figures and to report these as well.
This will provide an insight into the sensitivity of valuation to yield choice. You would then ideally seek more comparable information and attempt to make a robust, supported, decision about the appropriate yield.
TASK THREE
Most investment property is not let at a rack rent, but is reversionary, the rent is expected to change from the passing rent at rent review or lease renewal. This happens when the property is not recently let at a full rent. The property was perhaps let some time ago and that figure is now historic, the market having moved on. You are working for a Local Authority and elected members have asked for an explanation as to how such property is valued on a ‘term and reversion’ basis. Create your own example of a term and reversion valuation, with income flow diagram and layout, and value this. Explain and comment on every line of your valuation – stating what is taking place and happening with the figures on each line.
You should ensure that you have a different ‘property’ from everyone else – given the infinite choice of numbers out there, the passing rent and reversionary rent, should be different from others. To help in respect of yield you would be advised to choose a figure in the 3.5%-11% range. Take care with the yield treatment of the term and reversion and get this correct. Explain and comment fully in your answer.
TASK FOUR
One of your colleagues has been to lunch with a small regional commercial developer. They discussed the availability of a site on the edge of a market town. The site has planning consent for 800 square metres gross of office space. Rents in the locality are in the region of £230 per metre squared net, office yields are 5.5% with a good covenant, build costs are in the order of £1100 per metre squared gross, finance can be assumed to be available at 7%p.a, the build period and a void period need to be assumed, other costs should also be assumed, reasoned and stated. Provide an estimation of the figure you feel the developer could afford to pay for the site. Fully reason your answer.
This question above asks for an outline residual valuation. There are some ‘unknowns’ that you have to provide reasoned figures for, do that. If you cover the main cost headings and allow for a Developer’s Profit you should be proceeding along the right lines. Do though reason your figures and fully explain them. You should (obviously) but it is worth restating, not copy or reproduce the work of any other student.
TASK FIVE
A shopkeeper has come into your office for a meeting with one of your Partner’s to discuss his Rating Assessment. Following the discussion it is clear that the shopkeeper does not understand what is meant by the expression; ‘rent In Terms of Zone A (ITZA)’. Your Partner has asked you to provide outline sketches and notes covering a few different situations, to explain what is meant by an ITZA rent and to show how one is arrived at.
The final part of answering this question would be helpfully answered by creating a ‘comparable property’ let at a rent and then analysing this rent so it is put in terms of zone A. You can then use this figure to calculate an assumed rental value for a ‘subject’ shop.

 

 

 

Sample Solution

Sample solution

Dante Alighieri played a critical role in the literature world through his poem Divine Comedy that was written in the 14th century. The poem contains Inferno, Purgatorio, and Paradiso. The Inferno is a description of the nine circles of torment that are found on the earth. It depicts the realms of the people that have gone against the spiritual values and who, instead, have chosen bestial appetite, violence, or fraud and malice. The nine circles of hell are limbo, lust, gluttony, greed and wrath. Others are heresy, violence, fraud, and treachery. The purpose of this paper is to examine the Dante’s Inferno in the perspective of its portrayal of God’s image and the justification of hell. 

In this epic poem, God is portrayed as a super being guilty of multiple weaknesses including being egotistic, unjust, and hypocritical. Dante, in this poem, depicts God as being more human than divine by challenging God’s omnipotence. Additionally, the manner in which Dante describes Hell is in full contradiction to the morals of God as written in the Bible. When god arranges Hell to flatter Himself, He commits egotism, a sin that is common among human beings (Cheney, 2016). The weakness is depicted in Limbo and on the Gate of Hell where, for instance, God sends those who do not worship Him to Hell. This implies that failure to worship Him is a sin.

God is also depicted as lacking justice in His actions thus removing the godly image. The injustice is portrayed by the manner in which the sodomites and opportunists are treated. The opportunists are subjected to banner chasing in their lives after death followed by being stung by insects and maggots. They are known to having done neither good nor bad during their lifetimes and, therefore, justice could have demanded that they be granted a neutral punishment having lived a neutral life. The sodomites are also punished unfairly by God when Brunetto Lattini is condemned to hell despite being a good leader (Babor, T. F., McGovern, T., & Robaina, K. (2017). While he commited sodomy, God chooses to ignore all the other good deeds that Brunetto did.

Finally, God is also portrayed as being hypocritical in His actions, a sin that further diminishes His godliness and makes Him more human. A case in point is when God condemns the sin of egotism and goes ahead to commit it repeatedly. Proverbs 29:23 states that “arrogance will bring your downfall, but if you are humble, you will be respected.” When Slattery condemns Dante’s human state as being weak, doubtful, and limited, he is proving God’s hypocrisy because He is also human (Verdicchio, 2015). The actions of God in Hell as portrayed by Dante are inconsistent with the Biblical literature. Both Dante and God are prone to making mistakes, something common among human beings thus making God more human.

To wrap it up, Dante portrays God is more human since He commits the same sins that humans commit: egotism, hypocrisy, and injustice. Hell is justified as being a destination for victims of the mistakes committed by God. The Hell is presented as being a totally different place as compared to what is written about it in the Bible. As a result, reading through the text gives an image of God who is prone to the very mistakes common to humans thus ripping Him off His lofty status of divine and, instead, making Him a mere human. Whether or not Dante did it intentionally is subject to debate but one thing is clear in the poem: the misconstrued notion of God is revealed to future generations.

 

References

Babor, T. F., McGovern, T., & Robaina, K. (2017). Dante’s inferno: Seven deadly sins in scientific publishing and how to avoid them. Addiction Science: A Guide for the Perplexed, 267.

Cheney, L. D. G. (2016). Illustrations for Dante’s Inferno: A Comparative Study of Sandro Botticelli, Giovanni Stradano, and Federico Zuccaro. Cultural and Religious Studies4(8), 487.

Verdicchio, M. (2015). Irony and Desire in Dante’s” Inferno” 27. Italica, 285-297.