Mole Valley District Council (MVDC) works with a variety of commercial agents to identify and secure potential property investments, and welcome introductions.
The key criteria are:
- NIY - 6.0 - 6.5%
- Target IRR - 6%
- Prime or good locations within District
- Single or Multi-let, FRI buildings
- Long leases
- Ideal lot size £7m
We can make quick decisions to enable unconditional bids, subject only to due diligence. We have a streamlined due diligence process which is normally undertaken within 20 working days, often quicker! To work with us, please email firstname.lastname@example.org or download a copy of our requirements and contact details for our Property Investment team.
The process of accepting an introduction is straight forward. We are happy to pay introductory fees appropriate to the lot size of the property, and where possible look to agree an incentivised fee in order to achieve 'best value'. An agents' pack outlining the process together with standard terms of conditions and templates for reporting can be downloaded (see 'Downloads').
The process for appointing an introductory agent does not involve any complicated procurement process. A brief with standard terms and conditions is available.
The steps are as follows:
- Confirmation from MVDC that the introduction is effective
- Advise MVDC on the value and timing for bids
- Carry out a valuation and IRR appraisals and advise the optimum hold period, and support this with rental and investment comparables
- Agree an incentivised fee to allow MVDC to demonstrate the purchase price represents best value
- Inspect the property with MVDC
- Complete a Potential for Investment Purchase pro-forma report
- Lead the negotiations with the vendor to secure the property at the best possible price. An offer letter template can be downloaded
- Support MVDC through the Due Diligence process in accordance with the brief to include Building Surveys and Reinstatement Cost Assessment
- Before completion prepare a Purchase Report and Red Book Valuation as set out in the brief