What you will study
You will study the knowledge that real estate managers need: valuations, investment, law, economics, corporate strategy, finance, and social and environmental agendas.
Year 1
Year 1 gives context to the discipline of estate management. You will study the valuation and appraisal of assets, building technology and the legal and economic principles governing real estate. You will take your first field trip to a major city. A recent trip went to the City of London to visit 122 Leadenhall Street (The Cheese Grater). This visit was then embedded in a real case scenario with a move of an HQ into a prominent EC3 building.
You will also begin the business readiness programme in preparation for your Business Practice in Year 2.
Core modules
Property Inspection, Measurement and Construction
30 credits
This module aims to give students the opportunity to develop a knowledge of building design, construction methods, building performance, pathology and remedial mechanisms across a range of asset types and comparing traditional and non-traditional buildings. At the same, time the social, economic and environmental consequences of building construction are to be appreciated from sustainability, environmental and, legal and regulatory compliance standpoints.
Students will develop a systematic approach to real estate inspection and measurement, learning how regulatory and professional standards impact the way practitioners work.
Planning, Land Use and Development
30 credits
This module aims to develop students' knowledge of current planning legislation and policies in a practice-related context and to gain a contextual awareness of existing, new and emerging planning policy and developing trends. Land, property and planning are closely linked so the module enables students to gain a practical understanding of the development process from the developers' viewpoint to facilitate development effectively.
Principles of Law, Business Management and Accounting
30 credits
This introductory module provides students with a thorough grounding in both the basics of organisational management and the legal context in which real estate operates. Lectures introduce students to the principles of English Legal System, Land, Tort and Contract Law, and the basics of Landlord and Tenant Law. The module also explores the nature of business and other organisational structures, such as charities and professional bodies, and introduces students to basic Accounting principles. Assessment is done through coursework comprising both group and individual elements and a timed computer-based test.
Real Estate Economics, Valuation and Appraisal
30 credits
This module aims to enable students to have an understanding and appreciate the basic principles of economic theory and investment, the role of media and the main institutions in the marketplace and how they operate. The role of the valuer and valuation approaches and methods will be introduced so students understand the main purposes and bases of value used in the valuation profession. Students will be also be taught to construct and apply valuation and financial formulae in the context of real estate valuations and appraisals. The module is taught by a series of lectures, seminars/IT workshops where students are expected to take an active part. Assessment is by coursework, including a portfolio of in-class timed based assessments.
Year 2
Year 2 extends your knowledge of valuation across different contexts. You will study the law of landlord and tenant, the UK planning system, and commercial real estate management principles. You will also take a short (normally residential) field trip to a major city. Recent trips include Dublin which culminating in a group development project.
In addition you will complete stage 2 of the business readiness programme. You will carry out your Business Practice in Year 2 from May, for a minimum of three months.
Core modules
Landlord and Tenant: Law and Practice
30 credits
This module provides a legal, practical and professional basis for understanding and applying the law and practice relevant to the control and regulation of commercial and residential tenanted property. It will explore the statutory framework of Houses in Multiple Occupation (HMOs). Specific reference will be applied to understanding the structure of leases (leaseholds) and property held under commonhold title. The module will also appraise conflict avoidance and dispute resolution mechanisms with an emphasis on mediation, arbitration, expert determination and litigation, and the roles of expert witnesses and advocates in those dispute arenas.
Real Estate Asset Management Practice
30 credits
This module aims to allow students to develop the knowledge and practice skills in relation to real estate management, appreciating landlord and tenant relationships, and being able to evaluate alternative professional strategies in a range of asset and property management scenarios. Emphasis will be placed on strategic asset and operational real estate management situations where students will be expected to appraise a range of leased situations and provide best professional advice. The module also provides an introduction to the accountancy rules and, revenue and capital taxes in relation to their implications for real estate owners and occupiers.
Property Agency: Law and Practice
30 credits
This module aims to provide students with a thorough grounding in the law and practice of real estate agency including the undertaking of market appraisals, effecting marketing campaigns and seeing lettings and sales conclude through the conveyancing process. Students will be introduced to a series of statutory and common law provisions and regulations impacting acquisition, disposal and leasing transactions. Corruption, bribery and money laundering laws and activity will be reviewed. The requirements of the Equality Act 2010, Health and Safety legislation, Planning Law and Energy Performance Certificates will be directly applied to property transactions. The impact of sustainability on property pricing will be considered.
Advanced Real Estate Economics, Valuation and Appraisal
30 credits
This module builds on students' existing knowledge of property appraisal and valuation techniques and develops their skills further. Students undertake more complex problems applying a range of established techniques. This module also develops investment appraisal techniques and applies the use of cash flows to property investments with further more complex statistical analysis with IT workshops. The impact of Valuation Standards and regulatory controls will be appraised in connection with the production of valuations and valuation reports for clients for a range of purposes. The module is taught through lecture and seminar and interactive IT workshops. Assessment is by coursework and examination.
Optional year
Study abroad optional year
You have the option to take an additional year to study abroad or to undertake a year-long work placement (or even a mix of both).
Final year
The final year deepens your studies in investment strategy, valuation and asset management. It also extends your knowledge of professional practice, including law and ethics. A coursework assignment culminating in a major group project and an independent research project is also a significant feature.
Core modules
Investment Appraisal and Progressive Valuation Practice
30 credits
This module will allow students to develop a detailed and sector led understanding of the principles, theories, techniques and practices relating to the appraisal and valuation of real estate assets and liabilities for a range of purposes. It will seek to explore more applied valuation and appraisal situations such as undertaking valuations and appraisals in connection with statutory requirements, investment management and portfolio analysis.
Students will apply more critical understanding and develop skills necessary to produce investment and market valuations including undertaking comprehensive appraisals, evaluations and interpretations of real estate investment performance at single asset and portfolio levels. Valuations for alternative markets will be explored with the module introducing an examination of real estate finance and funding activities and developing an understanding of the risk characteristics of both domestic and international property portfolios. Regulatory mechanisms impacting the valuation profession will also be appraised in detail.
Throughout this module, students will develop appraisal and valuation modelling skills applied to analysis and problem solving in relation to investment and portfolio analysis. Seminars, tutorials and workshops will support lectures for student focused learning. Assessments will be based on assignments which will start to develop practitioner skills in the students together with an advanced and applied valuation practice examination.
Professional Practice in Context
30 credits
This module builds on the existing knowledge of the law and professional practice gained by students. It develops further the analytical and critical skills of students when encountering legal and professional practice problems. Knowledge of professional liability law is developed, together with other aspects of professional practice, ethical, legal and due diligence requirements. This module also ensures that students have developed a holistic understanding of sustainability as it applies to built environment professional practice.
Research Project
30 credits
The Research Project is a compulsory 30-credit module for all Real Estate students. It provides an opportunity for each student in their final year of study to design a small scale research project on an original topic. Students will have the opportunity to study in-depth a relevant topic which they find particularly stimulating and to further develop and practise their research skills which they have acquired at earlier stages of their programme of study.
In undertaking the work they should demonstrate knowledge and competence in reviewing literature and in proposing one or more of a range of research methods and draw well-founded conclusions. To support the student, a series of lectures in research methods is given. Assessment is by submission of proposal for a research project, a literature review and the final project consisting of a desk-top and e-research project, triangulation to literature review and conclusions. Ethics, and proposals of appropriate qualitative or quantitative methodology analysis also needs to be given. The project will provide an opportunity for students to synthesise all their learning from the programme and is their final project.
This project will ensure students have integrated their learning and have developed a particular skill and expertise relevant to their future employability. To support project development and production, six 30-minute sessions will be available to each student with direct tutor access and weekly 'open-house' surgeries during the project delivery period.
Corporate Real Estate and Strategic Consulting
30 credits
This module aims to deepen students understanding and knowledge in relation to strategic real estate consultancy and corporate real estate management practice. It enables the students to analyse at strategic, corporate and property levels strategy methods which improve responsible investment and operational performance. The role of real estate as part of organisational structures, business decisions and performance will be appraised in relation to consultancy and managmenet appraisals, activities, interventions and disruptors. Current real estate issues, economic cycles, environmental matters, societal changes and economic drivers will be examined. Tutorials and workshops will support lectures for student focussed learning. It is assessed by group and individual work which may include practical or virtual site visit.
