REMB16-Real Estate Development

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Autumn term module
Non-modular pre-requisites:
Modules excluded:
Current from: 2021/2

Module Convenor: Dr Edward Shepherd

Type of module:

Summary module description:

This module provides a course of study that focuses on the property development process. The module aims to provide students with an understanding of:  

  • the factors which influence the development process and its outcomes; 

  • the activities, agents, events, relationships, skills and tasks involved;  

  • current trends in UK residential and commercial development; and 

  • applied techniques in the financial appraisal of development opportunities. 

The content of the module is focused on some of the practicalities of real estate development, as well as on the broader political context in which development takes place. There is an emphasis on applying and linking concepts from economics, political economy and finance in order to help students to develop their understanding of property development as a multidisciplinary and social process. In addition, students will develop a practical and applied understanding of real estate development appraisal. 


The module has three overarching aims: 

  1. To develop students’ understanding of the practicalities of some of the development process i.e. the activities, agencies, events, relationships, skills and tasks involved. 

  1. To develop students’ capacity to critically analyse real estate development as a social and political process. 

  1. To develop students’ skills in the financial appraisal of development opportunities. 

Assessable learning outcomes:

By the end of the module it is expected that students will be able to:  

  • employ conceptual models to analyse the development process; 

  • discuss the variety of different types of developers and their objectives; 

  • critique the various private and public sources of demand for and supply of new development; 

  • analyse the interrelationships of planning and the development process; 

  • demonstrate understanding of how the development land market works; 

  • apply appropriate techniques in the financial appraisal of a development opportunity. 

Additional outcomes:

In addition, by the end of the module it is expected that students will be able to: 

  • discuss the various ways in which risk can be managed through the procurement of development contractors; 

  • explain the role of the planning system in delivering town centre regeneration; 

  • discuss the various techniques by which local planning authorities can capture a proportion of development value through the planning system. 

Outline content:

  • Models of the development process. 

  • Types of developer and development. 

  • Residential developers and development. 

  • Commercial real estate cycles. 

  • Introduction to procurement and construction. 

  • Land owners, land acquisition and land promotion. 

  • Development appraisal. 

  • Negotiating the planning system. 

Global context:

This module is primarily focused on the UK context, but does draw on case study material from various other countries. 

Brief description of teaching and learning methods:

The module will be delivered as a block release with on-line post course support. The block release teaching will comprise 4 days of lectures, and problem solving workshops, with a two-part 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 module information, handouts, presentations and assignments will be posted here. Dis cussion between students on technical aspects of the assignment is encouraged and multiple choice formative tests with instant feedback answers will be used for students to self-assess understanding throughout the module week. There will be additional online learning support and an online discussion board.

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

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

The module will include a two-part assignment comprising a development appraisal and accompanying report (1,500 words excluding the appraisal cash flow), and an essay on a different topic (2,000 words), both assignments combined are equivalent to a?5,000 word?essay (including calculation and annotation). 

Assignment Submission Deadline: Week 21

Formative assessment methods:

The module includes appraisal teaching which will have in-class problem solving workshops. 

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:

Assessment requirements for a pass:

A mark of at least 50% overall is required for a pass. 

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):

Last updated: 20 May 2021


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