REMF49-Real Estate Development: Process, Practice and Appraisal

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:
Current from: 2018/9

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

Type of module:

Summary module description:

The module aims to provide students with an understanding of: the nature of the real estte 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 and financing of development projects.

Aims:

The module aims to provide students with a practical understanding of:

• The nature of the real estate development process, including the activities, agencies, events, relationships, skills and tasks involved.


• The importance of the different actors in the real estate development process and the means by which they achieve their goals.


• The financial appraisal of real estate development projects.

Assessable learning outcomes:

By the end of this module students should:

• Understand the nature of and influences on real estate development. 


• Analyse the varied facets of the real estate development process including the activities, elements, skills and participants involved.


• Appreciate the nature and role of site evaluation, market research, development finance and risk in real estate development.


• Understand a range of approaches to real estate development appraisal techniques and use them to assess the viability of development projects.

Additional outcomes:

In addition students will develop their business awareness, written communication and numeracy skills.

Outline content:

The module consists of a range of topics on development process and appraisal including



- Development and developers

- Models of the development process

- Scheme conception and site evaluation.

- Market research for development projects

- Risk in development

- Land valuation and financial feasibility analysis

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.

Summative assessment- Examinations:

Three hours

Summative assessment- Coursework and in-class tests:

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:

A range of workshop and quiz exercises will be used to help students’ to monitor their learning.

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:

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):

Last updated: 31 July 2018