CEM335-Real Estate Development: Appraisal and Analysis

Module Provider: School of Construction Management and Engineering, School of Built Environment
Number of credits: 10 [5 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2021/2

Module Convenor: Dr Edward Shepherd
Email: edward.shepherd@henley.reading.ac.uk

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 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 which includes an introduction to basic financial mathematics.

This module is delivered at the University of Reading only.

Aims:

The module has three overarching aims:

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


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


3. 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 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 critically discuss and analyse aspects of the real estate development process.

Outline content:

• Models of the development process.


• Types of developer and development.


• Residential developers and development.


• Commercial real estate cycles.


• 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:

Contact hours:

	Autumn	Spring	Summer
Lectures		12
Practicals classes and workshops		12
Guided independent study:		76
Total hours by term		100
Total hours for module	100

Summative Assessment Methods:

Method	Percentage
Written assignment including essay	100

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

The module will include an assignment comprising a development appraisal and accompanying report with a limit of 1,500 words.

Formative assessment methods:

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

Penalties for late submission:

The below information applies to students on taught programmes except those on Postgraduate Flexible programmes. Penalties for late submission, and the associated procedures, which apply to Postgraduate Flexible programmes are specified in the policy 􀀓Penalties for late submission for Postgraduate Flexible programmes􀀔, which can be found here: /web/files/qualitysupport/penaltiesforlatesubmissionPGflexible.pdf
The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: /web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

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):

1. Required text books: None


2. Specialist equipment or materials: None


3. Specialist clothing, footwear or headgear: None


4. Printing and binding: None


5. Computers and devices with a particular specification: Casio FX-83GTPLUS or Casio FX-85GTPLUS – approximately £20.00


6. Travel, accommodation and subsistence: None

Last updated: 8 April 2021