Vincze

Track Record · The work behind the decision

Examine the work.
Then ask the questions.

A headline figure is a starting point. Our published Stress-Test Model makes the screening approach tangible: 27 checks, six failure modes and a companion calculator you can examine for yourself.

Get the model and calculator

Complete the engineer briefing request to access both downloads.

Cover of Vincze Commercial’s published 27-point Stress-Test Model
Actual guide cover · 2026 edition, page 1. Methodology, rather than evidence of a completed acquisition.

Firm experience · in context

Client portfolio value
$100M+
Off-market transactions
98%
Years of practice
14+

These firm-reported figures describe experience. They are not a return forecast. Relevance depends on the mandate, asset and period; discuss that context with us when assessing your own brief.

Published methodology · pages 3–8

Six ways to
test the brief.

The guide sets out a pass criterion and a walk-away threshold for each check. A check that cannot be verified has not passed. The calculator supports five quantitative checks; the other 22 require documentary review.

Source: Stress-Test Model, pages 2–9; companion calculator, Verdict sheet. This is a summary of the framework, not a client case study.

  1. 01

    Tenant covenant

    Checks 01–05 · p. 03

    Financials, revenue concentration, security and the rental ledger establish who stands behind the income.

  2. 02

    Lease expiry

    Checks 06–09 · p. 04

    Firm lease terms, expiry concentration and break clauses are considered against the intended hold period.

  3. 03

    Outgoings recovery

    Checks 10–14 · p. 05

    Recovery schedules, statutory notices, capital expenditure and insurance are checked against documents.

  4. 04

    Rate sensitivity

    Checks 15–18 · p. 06

    Interest cover at a higher debt cost, refinancing dates and covenant headroom test the financing assumptions.

  5. 05

    Vacancy load

    Checks 19–23 · p. 07

    Six months without rent, re-letting incentives and a liquid buffer turn vacancy into a defined cost.

  6. 06

    Exit liquidity

    Checks 24–27 · p. 08

    Buyer depth, a softer exit yield, title and planning help test the path back out of the asset.

Inside the calculator · illustrative inputs

Make the stress
visible in dollars.

The workbook includes an educational example: a $2.2M purchase, $180,000 annual net passing income, 60% borrowing and a 6.2% interest rate. It is not a completed transaction or a promised result.

Here is what two of its calculations reveal. Replace the example inputs with your own, then verify the underlying documents.

Interest cover at 8.2% · a +200 bp stress

1.66×

$180,000 income ÷ $108,240 annual interest. This tests interest cover alone; it does not establish that all 27 checks pass.

Six-month vacancy carry · at the original rate

$108,420

$22,500 outgoings + $40,920 interest + $45,000 re-letting incentive. Against the example’s $150,000 liquid buffer, coverage is 1.38×.

Source: companion calculator, Inputs and Stress Cases sheets. Rounded cover ratios. Interest-only calculations; general information, with independent professional advice required before acting.

Your next step

Bring a brief.
Ask for the working.

Client-specific evidence requires permission and confidentiality. Ask which material can be shared for a mandate like yours, including the assumptions, checks and decisions behind it.

Request the model and calculator Discuss relevant experience