REMF07-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:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Module version for: 2016/7

Module Convenor: Prof Pat McAllister

Email: p.m.mcallister@henley.reading.ac.uk

Summary module description:
The module aims to provide students with an understanding of: the nature of the development process including the activities, agencies, events, relationships, skills and tasks involved; the factors which influence the process and its outcomes; and the types, characteristics utility and quality of buildings and schemes. The module also explores the methodologies involved in the appraisal of development projects.

Aims:
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
- The diversity of approaches in property development, development appraisal and their inherent value systems
- The methodologies involved in the appraisal of development projects, their relative strengths and their application to different stages of the development process

Assessable learning outcomes:
By the end of this module students should:
- Understand the nature of and influences on real estate development
- Recognise the varied facets of the real estate development process including the activities, elements, skills and participants involved
- Appreciate the nature and role of development finance, construction and projection management and public-private interactions in real estate development
- Understand a range of approaches to development appraisal techniques and use them to assess the viability of development projects
- In addition students will develop their business awareness, written communication and numeracy skills.

Additional outcomes:

Outline content:
The module consists of two subject areas: (a) development process and activity, and (b) development appraisal and finance

Development Process and Activity
- What is development, the development process, who undertakes it, how and why?
- Land acquisition and evaluation, buying and selling development opportunities.
- Development finance
- Construction - contract procurement and risk management
- Development case studies

Development Appraisal and Finance
- Residual valuations
- Development viability appraisals
- Development cash-flows
- The impact of finance & funding of development, including feasibility & viability
- Profit share appraisals

The module includes significant case study content.

Brief description of teaching and learning methods:
The course will comprise lecture, class tutorial and problem solving workshops with an individual project assignment acting as a consolidating and integrating vehicle for the taught material. It will be supported by a range of online resources.

Contact hours:
  Autumn Spring Summer
Lectures 15
Tutorials 5 1
Guided independent study 134 50
       
Total hours by term 154.00 51.00
       
Total hours for module 205.00

Summative Assessment Methods:
Method Percentage
Written exam 100

Other information on summative assessment:
Exam: A written examination at the end of the module in the summer term. You will answer three questions from a selection of questions.

Formative assessment methods:

Penalties for late submission:

Not applicable
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:
Three hours

Requirements for a pass:
The pass-mark for this module is 50%.

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.

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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