module specification

This module is about the process of commercial real estate development and its commercial drivers.
An understanding of planning and development is essential to those working in the commercial real estate sector and increasingly growing into a specialist area of practice. Surveyors can play a vital role in promoting effective land use as a primary driver of sustainable development.
Assessing the potential to secure planning consent is a starting point in the development process, drawing together relevant policies, site history and local context for consideration.  This module will provide you with the skills to understand the planning process and the influence of planning policy on development.
Using these skills, you will then examine the development process, including development aims and objectives and appraisal of the development potential of a site or the refurbishment of a building. You will gather market data in considering costs and values and employ industry standard software and datasets to appraise developments.
In considering the feasibility of a development you will examine the whole project cycle, from initial feasibility proposals, to detailed design and the construction phase, handover of the development, and ongoing asset management.
Throughout the module, social value and the environmental impact of developments will be considered and your learning will be enhanced through studying real life case studies, both within and outside of the classroom.

• Urban planning – history, urbanisation, urban growth, global issues (LO1)
• Planning principles and process (LO1)
• Legislation and decision making (LO1)
• Development appraisals and their variables (LO2)
• Cost, price, value and worth (LO2)
• Stakeholders in development (LO1, LO2, LO3, LO4)
• Valuations (LO2, LO3)
• Sources of finance and structure of funding (LO3)
• Procurement (LO3)
• Regulation of development and construction (LO1, LO2, LO4)
• Environmental, social, and corporate governance (ESG) factors (LO4)
• Environmental schemes (Nabers UK, BREEAM, LEED etc) (LO4)
• Ethics and professional conduct (LO4)

Study will be supported via lectures, seminars, workshops, and guided asynchronous activities. Where appropriate, activities, will be captured and made available to allow asynchronous access. The value of this blended approach is that you will be able to continue to explore topics beyond the classroom and interact with your cohort to expand on discussions and debates.
There will be numerous examples discussed in class and details of these will be provided on Weblearn, together with additional material, for students to study, including visual materials, alongside reading materials. The VLE (Weblearn) also provides a platform to discuss and debate topics with tutors and peers outside the classroom.
Lectures will help develop your knowledge and understanding of topics, and workshops and other activities will allow you to apply your learning to a range of situations, helped by peer and tutor support, to develop your critical application and engender debate amongst the cohort.
You will receive formative feedback at regular intervals.  Formative means that the feedback will not go towards your final mark for the module, but you will be able to use the feedback to learn, improve your knowledge of key topics and to develop your academic writing skills. Students will be given the opportunity to self-assess their learning in small group sessions and discussions.
You will be asked to do independent and guided reading and research to support your learning, this will help you to build a wider knowledge of economic theory and how it relates to the built environment and how it will affect you as a real estate professional.

On completion of the module the learner, operating independently and applying their knowledge and skills, should be able to:
1. Demonstrate critical understanding of planning processes and policy in relation to commercial real estate development.
2. Evaluate the real estate development process.
3. Critically appraise the feasibility of a range of development types and the influence of project specific and contextual issues on the feasibility, cost and value.
4. Formulate proposals in response to environmental, social, and ethical objectives, and corporate governance.

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