Why Business Functions for Property?
n n n n
A series of Excel worksheets demonstrating the capabilities of Business Functions.
These are real worksheets, not doctored, that you can edit yourself (inputs in blue box On each page there is a demo button that illustrates some key features. To make the most of the demos. you should have Excel 2003.
Coming Soon in this demo worksheet: - Equivalent Yields - Development Plan and Appraisal - Actuals JD Oct 2005
First
Next
Last
for Property?
e capabilities of Business Functions.
you can edit yourself (inputs in blue boxes)
trates some key features.
Because it gets the rent right
Timebase Setup Start Rent Roll Timebase Periods ProjMode Absolute Finish 1 Jan 2007 13 English Qtr Days 1 cash 1 Jan 2100
Payment Characteristics Rent Payment Periods DayCount Location TOTAL NIA 94,000 sf
13 English Qtr Days 6.03 Tenant
#NAME? Rent Start Expiry or Break 1 1 Jan 07 #NAME?
Rental Detail: ABC Ltd Reviews Every Discount at review Market Rent Upwards Only as from
60 months 5% £30.00 /sf 1 Mar 07
Step Rents £27.00 /sf £28.00 /sf
Until 1 Jan 08 #NAME?
Floors 1-2 Floors 3-4 Floors 5-6 Floors 1-2 Floors 1-2 Floors 1-2 Floors 1-2
10,000 sf 20,000 sf 15,000 sf 25,000 sf 5,000 sf 7,000 sf 12,000 sf
ABC Ltd BigWig & Co Super Corp Inc Techno Alabama Energy Fiendish & Co SimulNews Network
1 Mar 07 25 Mar 07 1 Jul 07 15 Jan 07 1 Aug 07 23 Feb 07 1 Jan 07
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
0 0 0 0 0
Thousands
JanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJan 0206 JanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJan 03 JanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJan 04 JanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJan 05 JanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJan 00 JanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJanJan 01 01050913172125293337414549535761656973778185899397 02061014182226303438424650545862667074788286909498 03071115192327313539434751555963677175798387919599 040812162024283236404448525660646872768084889296
Relets Void Rent Free Term 6 months 6 months 5 years
Market Growth 3.00%
From 1 Jan 07
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Because it does all manner of Cost projec
Timebase Setup Start Projection Timebase Periods ProjMode Payment Characteristics Payment Periods DayCount Location TOTAL One-Off Costs Site Payments 1 Jul 2005 1 per year in advance 1 cash
-4 per year in arrear 6
#NAME? 1 1 Jul 05 #NAME?
Dates Payments
1 Jul 05 100,000
#NAME? 200,000
#NAME?
Capital Costs Shell And Core Developer's Finish
Start 1 Jul 05 #NAME? Fixed Rate p.a. 100,000 140,000
Finish #NAME? 1 Sep 06 As From 1 Jul 05 1 Oct 06
Total Cost 500,000 500,000 Finish 1 Jan 99
Shape 0.50 0.50
#NAME? #NAME?
Operating Costs eg. Office Costs
#NAME?
Fitout & Leasing Costs Location Cost Detail:ABC Ltd Expiry: Costs (Uninfl) Duration Relet: Costs (Uninfl) Duration Floors 1-2 Floors 3-4 Floors 5-6 Floors 1-2 Floors 1-2 Floors 1-2 Floors 1-2 Lease 200,000 3 months 200,000 3 months 10,000 sf 20,000 sf 15,000 sf 25,000 sf 5,000 sf 7,000 sf 12,000 sf Relet 50,000 3 months 50,000 3 months ABC Ltd BigWig & Co Super Corp Inc Techno Alabama Energy Fiendish & Co SimulNews Network One-Off Payments 200,000 Date 1 Mar 07 NIA Tenant Lease Start Expiry/Break
1 Mar 07 25 Mar 07 1 Jul 07 15 Jan 07 1 Aug 07 23 Feb 07 1 Jan 07
#NAME? #NAME? First #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? Previous #NAME? #NAME? #NAME? #NAME? #NAME?
nner of Cost projections
Relets Void Term 6 months 5 years Inflation Growth 3.00% From 1 Jan 07
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Because it can even do Rates
Timebase Setup Start Rent Roll Timebase Periods ProjMode Absolute Finish 1 Jan 2007 1 per year in advance 1 cash 1 Jan 2100 £30.00 /sf 0.44 1 1 Jan 07
Rateable Value prior to Market Growth Multiplier
NIA
Start
Finish
From the Point of View of a Tenant: 10,000 sf 1 Jan 07 #NAME? #NAME?
From the Point of View of The Vacancy Cost of a Landlord (eg takeover property): Start Cost 1 Jan 07 Start Lease #NAME? Expiry/Break #NAME?
10,000 sf
#NAME?
First
Previous
Relets Void Term 6 months 5 years
Market Growth 3.00% From 1 Jan 07
Inflation Growth 3.00%
From 1 Jan 07
2 #NAME?
3 #NAME?
4 #NAME?
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ver property):
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Because it understands Service Charges
Timebase Setup Start Projection Timebase Periods ProjMode Absolute Finish 1 Jan 2007 1 per year in advance 1 cash 1 Jan 2100
Payment Setup Service Cost Payments DayCount (Payments) Service Charge Receipts DayCount (Receipts) Relets Void Term Inflation Growth 3.00%
12 per year in advance 6 4 per year in advance 6
#NAME? #NAME?
6 months 5 years
From 1 Jan 07
1 1 Jan 07
Calculating the service charge cost (how much you are spending):
Service Charge Cost #NAME?
From the point of view of calculating receipts:
Tenant Service Charge Percentage From Percentage 1 Feb 07 100.00% Start 1 Feb 07 ExpOrBreak #NAME? #NAME?
From the point of view of just looking at void costs:
Tenant Service Charge Percentage From Percentage StartCost 1 Jul 07 100.00% 1 Jan 07 Start Lease 1 Jul 07 ExpOrBreak #NAME? #NAME?
First
Previous
Service Charges
Annual Service Charge Budget Rate p.a. 20,000 20,800 21,632 22,497 23,397 24,333 25,306 26,319 27,371 28,466 29,605 30,789 32,021 33,301 34,634 36,019 37,460 38,958 40,516 2 #NAME? 3 #NAME? 4 #NAME? 5 #NAME? From 1 Jan 06 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 6 #NAME? 7 #NAME? 8 #NAME? 9 #NAME?
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Because it does Loans
Timebase Setup Start Projection Timebase Periods ProjMode Absolute Finish 1 Jan 2007 1 per year in advance 1 cash 1 Jan 2100
1 1 Jan 07
Variable Rate Loan 1: #NAME? DayCount 3.00 Periods -1.22 -4.22 -7.22 -10.22
#NAME? You can choose any period cycle ie any day in any month.
Net Advances 10,000 20,000 10,000
Dates 1 Jan 07 #NAME? #NAME?
7 6 5
Interest Principal Closing Balance Variable Rate Loan 2: Interest Principal Closing Balance
Margin RollTo Repayment
1.50% 1 Jan 08 1 Jan 10
#NAME? #NAME? #NAME?
7 6 5
Margin RollTo Repayment
1.50% 1 Jan 08 1 Jan 10
#NAME? #NAME? #NAME?
7 6 5
Fixed Rate Loan/Bond Issue: Interest Principal Closing Balance
#NAME?
DayCount Repayment
3.00 1 Jan 20
#NAME? #NAME? #NAME?
Base Rate Interest 3.00% 3.50% 4.00% From 1 Jan 07 #NAME? #NAME?
2 #NAME?
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Because it does Equivalent Yields and Valua
Demo Completed
Inputs:
Rents £20.00 /sf £25.00 /sf £30.00 /sf From 1 Apr 07 #NAME? #NAME?
Selling Costs Valuation/Acquistion Date Rental Payments Per Year CapOptions
2.00% 1 Jan 07 4 0 True/AER
Valuation:
Yield 5.00%
Equivalent Yield:
Purchase Price
Valuation
#NAME?
Yield
Further Example: Getting the Function to calculatethe Market Review based on a foreca
Market Rent £30.00 /sf Growth 4% 6% From 1 Jan 05 1 Jan 07
Review To Market
1 Jan 14
Valuation:
Yield 5.00%
Equivalent Yield:
Purchase Price
Valuation
#NAME?
Yield
valent Yields and Valuations
Equivalent Yield:
£500 /sf
#NAME?
alculatethe Market Review based on a forecast
Equivalent Yield:
£500 /sf
#NAME?
Because we understand UK Property
John Drummond, founder, Business Functions Ltd n Head of planning at Canary Wharf for 10 years n Also worked at Tarmac Properties, Coopers & Lybrand Manageme
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