This module provides students with a critical understanding of key concepts, techniques and trends associated with planning intervention in real estate development in market economies. The primary focus is the UK, but skills and analytical approaches will be transferable.  It considers the implications for real estate development of public policy/planning challenges such as climate change and social justice. It develops skills in decision-making and judgement in relation to real estate development.

1. Critically understand the institutional landscape of the real estate development process and the roles played by key actors;

2. Appreciate the social, economic and political significance of planning intervention in the development process, including cases revolving around notions of equity and climate change

3. Show awareness of recent and current property market trends in the UK, and their implications for planning practice.

4. Undertake simplified versions of development project appraisals with an appreciation of the strengths and weaknesses of various method

5. Research and prepare reports recommending preferred actions and outcomes in relation to real estate development proposals

    

    

How the module will be delivered

Lectures/workshops : inter-active short sessions of  three  kinds : a) introducing, and critically appraising,  key dimensions of the real estate development process, e.g. institutional dynamics, funding, planning policy context etc..; b) case studies of real estate development  initiatives; c) consolidating techniques – e.g. valuation, report-writing. In each case, the experiences of current practitioners will be drawn upon.

Study visits:  to significant real estate development initiatives in the local area

·         Accessing and analysing data on property-market trends from standard sources

·         Assessing the real estate development  implications of planning policy at various spatial scales

·         Evaluating feasibility of detailed design options and mixes of use at site-specific level.

·         Report writing

·         Land valuation technique (residual)

·         Financial appraisal of real estate development proposals 

Short Report - 35%
Report - 65%

The module begins with an overview of the real estate development process and planning’s role in it. It introduces ideas of development appraisal and land valuation. This is followed by a critical exploration, through case studies, of the ways in which real estate development is bound up with challenges confronting the planning process, such as promoting social justice, and the challenge of climate change. A significant proportion of the latter stages of the module is devoted to considering how real estate development prospects and aspirations are shaped by spatially differentiated market trends , planning policy at various scales, and political circumstances.

Cadman, D. and Topping, R. (1995) Property Development. 4^th Ed. London: Spon.

Millington, A.F.  (2000)  Property Development. London: Estates Gazette.

Tiesdell, S and Adams, D eds (2011) Urban Design in the Real Estate Development Process  Oxford, Wiley-Blackwell

Wilkinson, S. and Reed, R. (2014) Property Development. 6^th Ed. London: Routledge.

Williamson, I et al (2010) Land Administration for Sustainable Development  Redlands, California, ESRI Press Academic

Ambrose, P and Colenutt, B (1975) The Property Machine Harmondsworth, Penguin , chs 1 and 2.

Ball. M et al eds (1985) Land Rent, Housing and Urban Planning  London, Croom Helm, chs 1 and 11

Guy, C (2006) Planning for Retail Development  London, Routledge

Seabrooke, W et al (eds) (2004) International Real Estate : an institutional approach  Oxford : Blackwell