4. Mr. Owen owns a freehold interest in a 3-storey office building. He rented out the premise to 3 different tenants for a 3 years lease term. Details of the tenancies are as follows: Floor Level Type Net Lettable Area (sq. ft) Monthly Rental (psf) Commencement Date Ground Retail 8,500 RM5.00 1 November 2018 First Office 9,000 RM4.80 1 May 2017 Second Office 10,000 RM4.00 1 July 2018 All repairing and insuring outgoing are under the responsibility of the tenants. The service charge of RM1.00 psf is inclusive. Recent market study revealed the following information: A similar office building next to the subject property was recently sold at RM2,500,000 and consequently let at full rental value of RM200,000 per annum (net) Current net rentals (inclusive of service charge of RM1.00 psf) for individual floors of a 3-storey office building in the neighbourhood are as follows: . Floor Net Lettable Area (sq. ft.) Monthly Rental (psf) Ground 8,000 RM6.00 First 9,000 RM5.00 Second 10,000 RM4.50 Taking the date of valuation as at 1 November 2019 and using appropriate assumptions, value Mr. Owen's interest using the term and reversion approach and check your valuation using the hardcore method. 4. Mr. Owen owns a freehold interest in a 3-storey office building. He rented out the premise to 3 different tenants for a 3 years lease term. Details of the tenancies are as follows: Floor Level Type Net Lettable Area (sq. ft) Monthly Rental (psf) Commencement Date Ground Retail 8,500 RM5.00 1 November 2018 First Office 9,000 RM4.80 1 May 2017 Second Office 10,000 RM4.00 1 July 2018 All repairing and insuring outgoing are under the responsibility of the tenants. The service charge of RM1.00 psf is inclusive. Recent market study revealed the following information: A similar office building next to the subject property was recently sold at RM2,500,000 and consequently let at full rental value of RM200,000 per annum (net) Current net rentals (inclusive of service charge of RM1.00 psf) for individual floors of a 3-storey office building in the neighbourhood are as follows: . Floor Net Lettable Area (sq. ft.) Monthly Rental (psf) Ground 8,000 RM6.00 First 9,000 RM5.00 Second 10,000 RM4.50 Taking the date of valuation as at 1 November 2019 and using appropriate assumptions, value Mr. Owen's interest using the term and reversion approach and check your valuation using the hardcore method