Real Estate

Year 2

Compulsory modules

• Land Law

  Gain understanding of the land law system which applies in England and Wales. On this module, you will look at how freehold land is acquired and how the rights of people with interests in land are protected when land changes hands on a sale. Then you’ll examine how a purchaser ensures the land it buys is suitable for its purposes from a legal perspective and free from onerous or unwanted legal obligations.  

  Through this module you’ll build the skills that supports the day-to-day work of non-legal professionals working in the real estate sector.
   

• Real Estate Accounting and Finance

  This module will give you a basic level of financial literacy. You’ll look at the fundamental concepts, principles, analytical methods and tools used for making investment and finance decisions for stocks, shares and commercial real estate assets. 

  You’ll build on your knowledge and develop your understanding of the financial context of real estate and investment alternatives. Learning how to interpret company accounts, which can be applied to the comparison of:

  • alternative investments 
  • simple investment appraisal,

  helping you gain sight of the profits method of valuation. 

  You’ll be able to recognize the unique features of real estate that distinguish it from alternative investments in gilts and equities. You’ll build your knowledge of Investment decision making and methods for reflecting risk and uncertainty along with real estate capital markets and the role of the financial system in the economy. 
   

• The Construction and Appraisal of Real Estate

  Focus on the advanced study of methods of construction of commercial, industrial and larger residential buildings, the related statutory requirements and the techniques and procedures adopted by Chartered Surveyors in the appraisal of buildings.  

  You will also examine the formulation of maintenance programmes, the economics of building design and environmental issues and building services.  Successful completion of this module will provide you with the prerequisites required for your advanced Real Estate Management modules.
   

• Planning and Development Practice

  This module will help you to build a critical understanding of a number of current topics in Planning and Development Practice. You will be involved in a series of professional debates and grow your knowledge of evidence that is relevant to planning and development practitioners. 

• Landlord and Tenant Law

  Study the law governing the relationship between a landlord and tenant in the property market building on concepts established in your previous legal modules.  You’ll gain an understanding of the leasehold system in England and Wales and study the law affecting leases. You will consider the differing and competing requirements of landlords and tenants and build your skills to advise on lease terms.

• Valuation and Investment

  Building on your knowledge of freehold, leasehold and tenanted properties, and to conduct property investment analysis. You’ll examine

  • property yields and required returns
  • leasehold valuation and capital recoupment
  • the impact of incentives on value, compulsory purchase compensation
  • and the depreciated replacement cost method for valuing properties without active markets.

  You’ll also look at the discounted cash flow techniques, i.e. net present value (NPV) and internal rate of return (IRR), and their application in valuation in much more depth as well as the residual appraisal method for valuing development land. 
   

• Professional Practice – Development and Employability

  On this advanced module you’ll have the opportunity to integrate the disparate knowledge and experience that you’ve already gained during your previous semesters by completing a project which focuses on planning policy and property development. 

  You will develop an understanding of, and ability to collaborate with, other disciplines which are relevant to your future careers. With this element of coursework you’ll collaborate with students from other subjects within the School of the Built Environment.

  You will get to use of a variety of software including, 

  • Pro Dev
  • Digimap 
  • Google SketchUp 

  as well as enhancing your experience of industry databases such as 

  • SPONS pricing database
  • EGi
  • and CoStar.

  Also you’ll have the opportunity to attend careers events and CV writing and interview and assessment workshops to help build your employment skills.
   

• Research Methods

  Developing your critical understanding of:

  • principles behind different research strategies and designs.
  • quantitative and qualitative methods and their strengths and shortcomings.
  • approaches to gathering, analysing, and integrating different types of data.
  • ethics of research and duty of care to research participants.

  You will also build your critical awareness and a core understanding of research methods in order to promote the design and delivery of effective research projects, both in an academic context and within the realm of professional practice. 
   

Year 3

Compulsory modules

• Dissertation

  This module is reserved for your final complete academic year of study, and it offers an exciting opportunity.

  Here, you'll have the chance to delve into a specific area of the property market that truly interests you. It's all about hands-on research and producing a well-structured report. You'll start by reviewing existing literature, developing research questions, and crafting a robust methodology to gather the data you need.

  You'll present your findings following academic conventions, honing the skills necessary for your future career. This process turns you into a critical reviewer of reports, just like the ones you'll study as a qualified practitioner. You'll also become proficient in generating and evaluating new information – something you might do regularly in your professional life.

  Successful completion of this module is a requirement for earning an honours Real Estate degree. So get started on this exciting journey of research and discovery.
   

• Management of Property and Corporate Real Estate

  This module will give you a hands-on understanding of what property managers face in the real estate industry today, whether they work in the private, public, or corporate sectors. We're going to get practical and strategic here, developing your skills as a chartered surveyor. You’ll explore the role of property managers and how it fits into the broader real estate landscape, including Asset Management and Investment Management. You'll gain insight into management objectives and learn how commercial lease terms and statutory regulations come into play.

  You'll also get a taste of managing revenue and real estate asset costs. We'll analyse rent collection methods and delve into estate and service charge administration. It's all about preparing you to effectively manage real estate assets, especially for corporate organisations. You’ll also use a framework for analysing corporate real estate resources and how they impact an organisation's success.
   

• Professional Practice Test

  Study the practical world of real estate management. We're here to guide you through a variety of tasks and challenges. Our main goal is to bring together all the different aspects of commercial and residential real estate management. You'll learn how to apply this knowledge in a professional and ethical way, which is essential in the real world.

  This module will put your multi-disciplinary understanding and professional skills to the test. You'll coordinate responses to diverse and complex tasks, just like you would in a real professional setting. It's all about preparing you for the pressures of the job.

  You will build on the skills and theories you've developed in earlier modules. It's your chance to get ready for the graduate recruitment process and to have a detailed reference as you near the end of your degree. Think of it as a stepping stone to your professional practice.
   

• Applied Valuation

  In this module, we'll explore how to value both regular commercial properties and specialised properties, each serving various purposes.

  When it comes to valuing typical commercial properties like industrial spaces, offices, and retail properties, we'll look at what makes them unique. We'll also delve into more advanced topics like rent reviews, lease renewals, securitization, and compensation for qualifying improvements under the 1954 Landlord and Tenant Act.

  We'll also cover specialised properties, which can be quite diverse, including residential homes, pubs, hotels, and leisure properties. To make sure everything is up to professional standards, we'll take a close look at the relevant RICS valuation standards.

  Throughout the module, you'll learn how to apply valuation principles to the specific characteristics of these properties, helping you solve real-world valuation challenges. It's all about practical problem-solving.
   

• Development Process and Appraisal

  Build on what you've learned in the Planning and Development Practice module, we'll now dive into a critical question: are projects that meet planning policy standards truly feasible and can they move forward in the development process?

  This involves understanding and managing various risks. These risks can come from the site itself, the rules and regulations, and economic factors, both internal and external. We also need to consider the financial side of things. 

  You'll learn how to prepare a detailed development appraisal. You'll explore the funding requirements using industry-standard software and evaluate the risks through sensitivity analysis. You’ll be ready to tackle real-world development challenges.
   

Optional modules