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

3. Show awareness of recent and current property market trends in the UK and elsewhere, 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

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 developmentimplications 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

Formative Assessment

Students will be provided with opportunities for formative feedback tasks throughout the module.

This could include discussions in class, seminars and debates

THE OPPORTUNITY FOR REASSESSMENT IN THIS MODULE:

Re-assessment

Students are permitted to be reassessed in a module which they have failed, in line with University regulations. https://intranet.cardiff.ac.uk/staff/teaching-and-supporting-students/teaching-support/academic-regulations. You will only be reassessed on the components of the module in which you have failed. The format of the reassessment will be the same as the original assessment and will take place in the Summer re-sit period.

Types of Assessment

1. Short Essay - 35% - 1400 words - Planning and the development process – critical evaluation

Learning Outcomes - 1, 2

2. Report - 65% - 2600 words - Consultancy-style report assessing development potential of specified sites or areas in light of real estate market circumstances, relevant planning policy and political realities.

Leanring Outcomes - 3, 4, 5

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.

Reed, R and Sims, S (2015) Property Development 6^th ed  Abingdon : Routledge

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

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

Davy, B (2012) Land Policy : planning and the spatial consequences of property Farnham : Ashgate

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

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