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:
Current from: 2018/9

Email: edward.shepherd@henley.reading.ac.uk

Type of module:

Summary module description:

This module will enable students to enhance their conceptual understanding of key elements of the real estate development process, as well as their practical understanding of specific techniques for assessing the feasibility and viability of real estate development proposals. Students will therefore improve their knowledge of the complex nature of real estate development, and how this complexity is influenced, managed and modelled by the different individuals, organisations and institutions involved thereby resulting in diverse development outcomes.

Aims:

The aim of this module is to provide students with an understanding of:

• The variety and complexity of the development process.


• The events, agencies and relationships involved in the development process.


• The activities, skills and tasks involved in the development process.


• The challenges arising from the dynamic factors influencing the development process.


• How a real estate development project relates to the site’s changing economic, physical and political context.


• How the planning system influences and is influenced by the development process.


• Different ways of modelling the relationship between cost, value and risk in the assessment of the feasibility and viability of a development proposal

Assessable learning outcomes:

On completion of this module, students should be able to:

• Critically compare different models for understanding the development process.


• Explain the various roles influencing the development process.


• Critically discuss the key factors affecting development feasibility and viability.


• Differentiate and apply different techniques for the appraisal of development opportunities.


• Formulate a suitable appraisal of the viability and feasibility of a development proposal.

• Evaluate the role of 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.

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.

Summative assessment- Examinations:
None

Summative assessment- Coursework and in-class tests:

13th May 2019 – Term 3 – Week 4

The course will include a two-part assignment comprising a development appraisal and accompanying report, and an essay on a different topic. As this is a project involving some quantitative analysis and supporting commentary the total guide length across the two elements of the assignment: 3,000 words. The submission deadline will be provided in the coursework brief.

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

Assessment 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: 31 July 2018