Research & Consultancy

BSC Real Estate Advisors consulting team offers integrated planning, development, economics and financial skills to provide best-in-class solutions to complex issues, in order to help our clients achieve a competitive advantage. We offer industry-leading tailor made market research analysis, due diligence reports and financial modelling reports.

Market Research

We provide bespoke market research studies to assist clients in preparing a real estate strategy, underwriting an acquisition or examining a specific area within the commercial real estate market in Poland or central Europe.

Investigating a markets’ macro-economic trends, employment rates, demographic indicators, population and purchasing power.

Researching a city or markets vacancy rates, take up, supply (existing and development pipeline), rents, yields.

Studying catchment area, drive times, competing schemes, public transport and travel patterns.

Reviewing footfall analysis, calculate rent to sales ratio and occupancy cost ratios, tenant gap analysis, tenant demand study.

Delivering a review of architect’s design, interior layout and technical specification with commentary on commercial application.

Collecting land data, contacting adjoining site owners, reviewing master plan and advising.

Purchase due diligence

We provide purchase due diligence and underwriting service on behalf of investors covering the verification of the NOI, service charge reconciliation, lease audit, property operation review, ERV analysis and property market overview.

Verifying the NOI (Net Operating Income), analysing the rental income, evaluating the service charge income and expenditure, service charge reconciliation, marketing budgets, non-recoverable costs and debtors.

Carrying out a Lease Audit (extrapolate key terms and summarise leases), assessing income sustainability and liaising with lawyers.

Confirming property is operated in an appropriate manner, reviewing: insurance, taxes, RPU, security, cleaning, facility management, footfall, IP rights, site team, access, assets and movables, equipment and warranties.

Establishing ERV and rents, retailer performance, rent to sale ratio, gross occupancy costs, researching retailer sentiment, establishing void periods and assessing lease expiry profile.

Financial Modeling

As well as underwriting investment acquisitions, BSC Real Estate Advisors consultants can provide an opinion on investment value, a land best and highest use study, a site residual valuation, a development feasibility study and an IRR based financial model.

Assessing and evaluating a real estate investments against comparable sale transactions.

Providing basic DCF opinions of value provided in the course of an investment sale or disposal.

Carrying out a highest and best use study of land and development feasibility study.

Measuring land or development value via the use of a residual valuation technique.

Creating simple or complex financial models tailor made according to a client’s needs; which may typically calculate a projects Internal Rate of Return (IRR), equity multiples and cash on returns.

What our clients say

Department head

Paul Cawood, BSC MRICS FRSA

Partner

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BSC Real Estate Advisors
Warsaw Towers
ul. Sienna 39
00-121 Warsaw, Poland

+48 22 206 40 50 warsaw@bsc-rea.com