REMB16-Real Estate Development

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites: REMB05 Real Estate Investment Appraisal
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Module version for: 2016/7

Module Convenor: Prof Neil Crosby

Email: f.n.crosby@henley.reading.ac.uk

Summary module description:
The aim of this module is to enable students to develop understanding of the key elements of the real estate development process. Students will understand how real estate development encompasses a range of skills and knowledge derived from a number of disciplines Students will be able to apply different techniques to the financial analysis of development opportunities and critically evaluate different techniques for the pricing and appraisal of development opportunities with a particular emphasis on risk management. Students will be able to evaluate the various aspects of the feasibility of development. Students will appreciate the roles of the various 'actors' in the development and understand the key elements of the process such as planning consent and finance, procuring construction services and design.

Aims:
The aim of this module is to enable students to develop understanding of the key elements of the real estate development process. Students will understand how real estate development encompasses a range of skills and knowledge derived from a number of disciplines. Students will be able to apply different techniques to the financial analysis of development opportunities and critically evaluate different techniques for the pricing and appraisal of development opportunities with a particular emphasis on risk management. Students will be able to evaluate the various aspects of the feasibility of development. Students will appreciate the roles of the various 'actors' in the development and understand the key elements of the process such as planning consent and finance, procuring construction services and design.

Assessable learning outcomes:
Critically evaluate different models of the development process. Construct different discounting and other techniques for appraising and financing development opportunities. Identify the different aspects of and key factors affecting development feasibility Critically compare the use of different techniques for the appraisal of development opportunities, Identify and evaluate the information needs of major commercial real estate development appraisals, Understand the management of risk and apply risk-adjustment measures to the outcome of development appraisals, Critically assess the limitations and contributions of market research in the real estate development process. Appreciate the role of the regulatory and legal frameworks in determining development outcomes.

Additional outcomes:

  • Construct spreadsheet templates to undertake major appraisals,

Outline content:

  • The development process,
  • Assessing development feasibility,
  • The financing of development,
  • Development appraisal,
  • Sources of risk and risk management,
  • Options for construction procurement,
  • Negotiating the planning system,
  • Development in brownfield and contaminated sites.

Brief description of teaching and learning methods:
The course will be delivered as a block release with on-line post course support. The block release teaching will comprise 4 days of lecture, class tutorial and problem solving workshops and computer workshops, with an assignment acting as a consolidating and integrating vehicle for the taught material.

The block release taught element will be supported by the use of Blackboard. The course information, handouts, presentations and assignment will be posted here. Discussion between students on technical aspects of the assignment is encouraged and multi-choice formative tests with instant feedback answers will be used for students to self-assess understanding throughout the module week.

Contact hours:
New Page 1


  Block Release
Lectures 10
Tutorials/seminars 10
Practicals 10
Other contact (eg study visits) on-line Discussion Board
   
Total hours 30 + on-line learning support
   
Number of essays or assignments 1 major appraisal assignment
Other (eg major seminar paper)  

Summative Assessment Methods:
Method Percentage
Written assignment including essay 50
Report 50

Other information on summative assessment:
The course will include a major assignment. This may be in a number of parts and involve essays and professional report.Guide length 3,000 words.

Formative assessment methods:

Penalties for late submission:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Length of examination:
None

Requirements for a pass:
50%

Reassessment arrangements:
Resubmission of appraisal project and/or essay which will achieve a maximum mark of 50.
Reassessment will be by the same method as for the module's original assessment requirements, subject to variation by the Examination Board where appropriate'.

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

Things to do now