RE3AV-Applied Valuation

Module Provider: Real Estate and Planning
Number of credits: 10 [5 ECTS credits]
Level:6
Terms in which taught: Spring / Summer term module
Pre-requisites: RE1IAP Investment Appraisal
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Module version for: 2017/8

Module Convenor: Prof Sarah Sayce

Email: s.l.sayce@reading.ac.uk

Summary module description:

This module aims to provide you with opportunity to gain an improved understanding of the roles, methodologies and limitations of residential and commercial property valuations and to enhance your knowledge of the application of valuation theory to practical problems in residential and commercial property markets.



This module is delivered at University of Reading and University of Reading Malaysia.


Aims:
This module aims to provide you with opportunity to gain an improved understanding of the roles, methodologies and limitations of commercial property valuations and to enhance your knowledge of the application of valuation theory to practical problems in commercial property markets.

Assessable learning outcomes:

By the end of the module it is expected that students will have a thorough understanding of the following topics:

•    Valuing specialised assets: trade-related valuations, non-market assets, infrastructure, contaminated land

•    Landlord and tenant valuations: valuations at rent review, lease renewal and lease end, surrender and renewal (lease re-gearing) valuations, influence of Landlord and Tenant Act provisions (security of tenure, compensation, enfranchisement)

•    Expropriation (compulsory purchase and compensation): compensation for land taken, severance, injurious affection, disturbance, planning decisions

•    Valuations for property taxation: rating, CGT, IHT, VAT

•    Valuations for financial statements: valuation standards and guidance, accounting standards

•    Secured lending valuations

•    Mass appraisal: automated valuation methods (CAMA, AVMs)

•    Sustainability and valuation


Additional outcomes:

The module also aims to encourage the development of written and oral communication, problem solving, business awareness and numeracy skills.


Outline content:

Brief description of teaching and learning methods:

Lectures and workshops.


Contact hours:
  Autumn Spring Summer
Lectures 20 2
Guided independent study 53 25
       
Total hours by term 73.00 27.00
       
Total hours for module 100.00

Summative Assessment Methods:
Method Percentage
Written exam 100

Other information on summative assessment:

Formative assessment methods:

Penalties for late submission:
The Module Convenor will apply the following penalties for work submitted late, in accordance with the University policy.

  • where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
  • where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

  • The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
    You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

    Length of examination:
    One two-hour examination.

    Requirements for a pass:
    A mark of at least 40% overall.

    Reassessment arrangements:

    Reassessment will be by the same method as for the module’s original assessment requirements, subject to variation by the Examination Board where appropriate.


    Last updated: 25 September 2017

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