RE3REDP-Real Estate Development Practice

Module Provider: Real Estate and Planning
Number of credits: 10 [5 ECTS credits]
Terms in which taught: Spring / Summer term module
Non-modular pre-requisites:
Modules excluded:
Module version for: 2016/7

Module Convenor: Mr Chris Foye


Summary module description:
This module provides a course of study that focuses on the property development process. The module aims to provide students with a theoretical and practical understanding of the nature of the development process, including: the activities, agents, events, relationships, skills and tasks involved; the factors which influence the process and its outcomes; and the characteristics, quality and performance of different types of property development. Emphasis will be placed on linking and applying economic concepts and planning instruments to development decision-making in Britain. It will develop an understanding of economic and other relationships between markets, the key actors in development, as well as fiscal and planning policies. In so doing this module will also integrate concepts and techniques learnt previously and taken concurrently so as to provide a thorough understanding of the property development process.

The module aims to provide students with a practical understanding of:
- The nature of the development process, including the activities, agencies, events, relationships, skills and tasks involved
- The importance of the different actors in the property development process and the means by which they achieve their goals
- The factors which influence the process and its outcomes
- The balance between competing demands of developers and the planning system
- The types, characteristics, utility and quality of buildings and schemes

Assessable learning outcomes:
By the end of the module it is expected that the student will:
- Understand the economics of land value creation through development activity and recognise the economic constraints under which development decisions and are taken
- Be able to articulate and assess the potential risks, rewards and possible losses associated with development activity, and recognise the competing demands of developers and the planning system
- Discuss different conceptual models of the development process
- Critically appraise the varied facets of the development process including the activities, elements, skills and participants involved
- Outline the nature and influence of property markets and real-estate cycles on the property development
- Appreciate the nature and role of marketing and market research in property development
- Understand the interrelationship of planning and the development processes
- Be able to analyse, interpret and present property and market information, research and intelligence in ways suitable for development decision-making
- Appreciate the need for accurate, reliable and verifiable evidence in market research and professional consultancy

Additional outcomes:

Outline content:
- Development process and economics
- Structure of the development industry
- Land issues
- Property development activity & scheme development
- Construction procurement
- Marketing, market research and analysis
- Development finance
- Risk and uncertainty in development

Brief description of teaching and learning methods:

Contact hours:
  Autumn Spring Summer
Lectures 20 1
Guided independent study 53 26
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:
    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:
    One two-hour examination paper in August/September following finals.

    Additional Costs (specified where applicable):
    1) Required text books:
    2) Specialist equipment or materials:
    3) Specialist clothing, footwear or headgear:
    4) Printing and binding:
    5) Computers and devices with a particular specification:
    6) Travel, accommodation and subsistence:

    Last updated: 21 December 2016

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