Independent Guided Study

Transcription

1 TITLE Development and Property Appraisal SI MODULE CODE S CREDITS 30 LEVEL 7 JACS CODE 230 SUBJECT GROUP Real Estate and Building Surveying DEPARTMET atural and Built Environment MODULE LEADER Helen Reardon MODULE STUD HOURS (based on 10 hours per credit) Scheduled Learning and Teaching Activities Placement (if applicable) Independent Guided Study MODULE AIM MODULE DESCRIPTOR Total umber of Study Hours The aim of this module is to enable you to analyse the property development process and apply development appraisal techniques in the valuation of development land, having a regard to all relevant factors that affect development potential including site issues, the property market and economy, and regulatory regimes with particular emphasis on Town and Country Planning legislation. ou will explore the policy and regeneration context in different global contexts and the interdisciplinary project approach, through which successful and sustainable development is delivered. MODULE LEARIG OUTCOMES By engaging successfully with this module a student will be able to Conduct integrated analysis of site and location parameters, the market drivers and the regulatory and legal influences on development land in order to appraise development options using numerical and visual presentation techniques. Develop critical skills and understanding necessary to operate in the multidisciplinary development process by engaging with a wide range of professions and partnership models to support the successful delivery of sustainable projects. Evaluate the nature and sustainability objectives of contemporary town and country planning and assess spatial and financial consequences caused by the effect of regulatory regimes upon the development process, including strategies to maximise viability during the planning application process. Apply development appraisal techniques to value development opportunities, making judgements on how important variables affect the risk and return balance for the developer and the financial investor within the management of a project, using appropriate IT skills with relevant calculative software to support a range of client advice techniques. IDICATIVE COTET Management of the development process Understanding property cycles and the role of the developer Site investigations and multi-disciplinary responses to development issues Market research and economic context Options Appraisal and design theory Land assembly and development finance

2 Development appraisal and valuation techniques The application of valuation principles in the development context Legal barriers to development, including easements and restrictive covenants Calculative tools for appraisal Town and country planning - its purpose, legislation, policy and procedures Compulsory Purchase order and the role of the public sector egotiations and strategies for successful project management Partnership approaches and contractual relationships Infrastructure requirements and planning costs Specific planning themes including heritage, flooding, brownfield land and consultation. The planning application process and negotiations Global influences and sustainability LEARIG, TEACHIG AD ASSESSMET - STRATEG AD METHODS Students will be supported in their learning, to achieve the above outcomes, in the following ways ou will have the opportunity, using an enquiry-based approach to learning, to explore the nature of the development process, the impact of planning and development policy and the responsibilities of the professional advisors. The emphasis of the module is on a collaborative approach to developing skills and knowledge for your future work. This will allow you to simulate the type of problem-solving you will experience in professional practice. This approach is well supported by use of the university's virtual learning environment (VLE). Through this, you will communicate with the tutor and your peers, and you will share ideas, knowledge and resources and use the discussion boards. our digital fluency will be developed by use of a range of ICT applications to support project work, analysis and outputs, including bespoke industry software and more widely available design tools. ou will use your self-directed learning time in a number of ways - for example, you might work with peers outside tutor-contact time; read books, journals, articles and websites related to your subject; find resources/ research/ investigate your topic in preparation for sessions. ou are expected to take the opportunity to draw on the skills, knowledge and understanding you've built up in previous and concurrent modules such as valuation skills and legal principles. A large number of seminars will be structured around formative project work. These seminars will help to develop oral skills to communicate your analysis of complex problems and solutions, as well as providing focussed IT support. Scenarios and simulations will be used to blend together the wide range of planning and development related issues. This will enable interaction between disciplines, particularly in the field trip project. ASSESSMET TASK IFORMATIO The module structure and scenario-based teaching approach will generate a number of formative feedback opportunities with the first assessed output being an opportunity for the students to realise the integration of their skills and knowledge within the context of an interdisciplinary project. The principles developed in the first half of the module will be holistically tested in the field trip environment through a collaborative client briefing. The field trip block week will provide an intensive experiential learning opportunity concluding with a professionally situated assessment. Individual marks will be awarded based on individual performance. The second assignment will require students to integrate their learning from local domestic case studies and the field trip and make a critical comparison and evaluation of options. The student will

3 be required to write a letter to a finance organisation with a view to securing development funding for an existing proposal derived from earlier case study analysis in the module. This will include requirements to visually present a proposal using varied communication techniques, explain the context using numerical and qualitative analysis, present an argument using financial terminology and valuation methods, consider a range of stakeholder positions within the context of a partnership approach. The final (third) assessment will require students to use reflective and critical thinking to evaluate their and learning and performance within the module and in relation to other subjects on the course. The students will write a critical review, which considers the module subject matter in relation to a number themes including: Professional competence; A holistic interpretation of the course and integration of learning, including reflection on feedback from this and other modules; The inter-relationships between different professionals in the development process; Deeper evaluation of at least one specific component of their learning including reflection on the limitations and further opportunities of their assessment activities and outputs:- typical options might include: Planning law and its application; Compulsory Purchase and valuation; Development and portfolio investment decisions; Partnership and financial structures; Design and Sustainability. o. Short Description of 1 Client briefing: collaboratively delivered, individual marks awarded. SI Code EX/CW/PR Weighting % Word Count or Exam Duration CW 30% 2,000 word 2 Funding Letter. CW 40% 2,500 word 3 Critical Review. CW 30% 2,000 word In-module retrieval available FEEDBACK Students will receive feedback on their performance in the following ways The module structure and scenario-based teaching approach will generate a number of formative feedback opportunities during the first half of the module. The students will be encouraged to practice skills and review knowledge through scenarios and simulated professional situations. Collaboration for formative in-class presentations will generate a continual flow of feedback opportunities. The first assessment will be a practice based simulation and the students will receive verbal feedback through these interactions and a summary of performance provided after the event. The integrated assignment structure will then allow feedback to feed forward as they refine their communications skills and technical application of methods from this and other modules into Assignment 2 (the funding Letter).

4 Assignment 3 will effectively require the student to engage directly with feedback from across the course in a critically reflective manner to help the student use their learning to step towards heightened employability. LEARIG RESOURCES FOR THIS MODULE (ICLUDIG READIG LISTS) The Virtual Learning Environment (Blackboard) will be a key learning resource and will be used to set out a programme of work which will include reading, seminar exercises and learning materials including lecture slides and links to documentary and other resources, such as RICS guidance on the valuation of development land and government planning resources. A module handbook (hard copy and Blackboard) will be provided. Use of electronic communication systems ( ) will promote strong and responsive organisational structures within the module and reflect industry practice. Appropriate calculative software will be available to enhance your skills, judgement and analytical abilities in respect of development appraisal. Other students within the learning community will be a valuable resource for collaborative research and creative solutions through team work. Where safe and productive learning can take place, then real world and external environments including case studies will offer a practice bed for learning. Specific examples will include: RICS guidance on development appraisal: Valuation Information Paper 12 - The Valuation of Development Land" (2008) Wilkinson and Reed. (2008) Property Development, Routledge General calculative software or bespoke industry software for valuations. Cameras, lap-tops (if fully insured), or available from the Resource desk in the Learning Hub (level 4, orfolk), scale ruler (a recommended purchase for the wouldbe surveyor). Specific sites representing development opportunities in Sheffield and other locations. Ordnance Survey material to assist in the development of mapping and drawing skills. Government and stakeholder web-sites on policy and legislation relevant to planning. Department of Communities and Local Government, Planning Glossary, Planning Portal web-site Materials, and software from semester 1 and concurrent modules Tutors for consultation and feedback from meetings / simulations

5 SECTIO 2 MODULE IFORMATIO FOR STAFF OL MODULE DELIVER AD ASSESSMET MAAGEMET IFORMATIO MODULE STATUS - IDICATE IF A CHAGES BEIG MADE EW MODULE EXISTIG MODULE - O CHAGE Title Change Level Change Credit Change Assessment Pattern Change Change to Delivery Pattern Date the changes (or new module) will be implemented 09/2015 MODULE DELIVER PATTER Module Begins Module Ends Course Intake 1 25/01/ /05/16 Course Intake 2 DD/MM/ DD/MM/ Course Intake 3 DD/MM/ DD/MM/ Is timetabled contact time required for this module? Are any staff teaching on this module non-shu employees? If yes, please give details of the employer institution(s) below What proportion of the module is taught by these non-shu staff, expressed as a percentage? MODULE ASSESSMET IFORMATIO Indicate how the module will be marked *Overall PERCETAGE Mark of 40% *Overall PASS / FAIL Grade /A SUB-TASKS Will any sub-tasks (activities) be used as part of the assessment strategy for this module? FIAL TASK According to the Assessment Information shown in the Module Descriptor, which task will be the LAST TASK to be taken or handedin? (Give task number as shown in the Assessment Information Grid in Section 1 of the Descriptor) o. 3 O-STADARD ASSESSMET PATTERS MARK 'X' I BOX IF MODULE ASSESSMET PATTER IS O STADARD, eg MODEL B, ALL TASKS MUST BE PASSED AT 40%. B: on-standard assessment patterns are subject to faculty agreement and approval by Registry Services - see guidance. notes. CHECKED Date Reason August 2015 Checked Against SI - correct