Module Title

PROPERTY DEVELOPMENT AND APPRAISAL

Module Code

5BU507

Pre-requisite
(where
appropriate)

None

Date of Approval
Module Level

Credit value

20

Total Number of
Learning Hours

200

Key Words
(10 words
maximum)
Module Delivery

Finance, Economics. Land values.

Investment. Risk. Life cycle costing.

Mode (Please tick

as appropriate)

Online/Distance

Blended/Face to
face

Property

Values.

Work-based
learning

Module
Description
(200 words max)

Property development is demand-led relative to certain

appropriate conditions within the market, time and the vagaries
of the location in which the project is to be constructed. The
basis of whether to build or not is one where accurate
information is supplied to a client on which to base a decision.
This module examines the conditions in which developments
proceed or not.

Module Learning
Outcomes

On successful completion of the module, you will be able to:

1. Understand and research development process.
2. Analyse the components of an investment decision.
3. Evaluate commercial risk factors that may affect any
decision to develop.

Module Content

UK financial structure
Demand and supply factors. Markets and information sources.
Capital sources. Historical trends in land values. UK planning
system. Regional Development Authorities. Development
planning and local authorities. Client types.
Economic theory of land values
The property market and price determination. Property as an
investment compared to other types.
Investment appraisal
Types of development. market analysis, site selection, sources
of finance, development models.

Commercial risk factors.

Discounted cash flow. Interest rates. Specific site appraisal.
Disposal strategies.
Life-cycle costing
Modelling alternative build strategies for developments.
Module Learning
and Teaching
Methods

Module
Assessment
Method

Learning & Teaching Methods:

Delivery will be by interactive lectures, with case studies to
illustrate the issues relevant to the property development and
appraisal. The teaching methodology will be such as to
develop and advance the qualities of you understanding the
property developer role in multidisciplinary environment.
Activity Type
Percentage Hours
Category
Lectures
12%
24
1
Tutorial
12%
24
1
Guided
76%
152
2
independent
study:
Total
100%
200hrs
Formative Assessment (0%)
A number of activities will be identified and used as a form of
evaluating the level of your learning and thereby provide
formative feedback on areas of weakness as well as strength.
Summative Assessment: 50% EX 50%CW
EX (50%): Learning outcome 1 to be assessed. A closed book
two and half hour examination will be held at the end of the
teaching period.
CW (50%): Learning outcomes 2 and 3 to be assessed. An
individual project where you will be required to analyse an
investment appraisal for a given development proposal.

Reading list

Link to ASPIRE
Resources:
Havard, Timothy (2008) Contemporary Property Development
(2nd rev. ed) London: RIBA Enterprise
Wilkinson, Sara, and Reed, Richard (2008) Property
Development, London: Routledge
Baum, Andrew E. and Crosby, Neil (2007) Property investment
appraisal (3rd ed.) Oxford : Blackwell
Wyatt, Peter (2007) Property Valuation: In an Economic Context
Oxford: Blackwell
Gimmy, Arthur and Boehm, Michael (2006) The Appraisal of
Real Estate: A Guide to Appraisal, Market Analysis,
Development and Financing,
Fraser W.A (2004) Cash-flow Appraisal for Property Investment
Basingstoke: Palgrave Macmillan
Parnham, Phil, and Rispin, Chris (2001) Residential Property
Appraisal, London: Spon Press

Isaac, David (1996) Property Development: Appraisal and

Finance (Building & Surveying) Basingstoke: Palgrave
Property in the Economy Agile Working. RICS
Property in the Economy Full Report 2008. RICS
Ernest Wood (1998) Current Developments in Property
Valuation and Appraisal
Wyatt, Peter(2007) Property Valuation: In an Economic Context
Blackwell
Baum, Andrew E. and Crosby, Neil (2007) Property investment
appraisal, (3rd ed.) Oxford : Blackwell
RICS commercial market survey. RICS
Gimmy, Arthur and Boehm, Michael (2006) The Appraisal of
Real Estate: A Guide to Appraisal, Market Analysis,
Development and Financing,
Havard, Timothy (2008) Contemporary Property Development
(2nd rev. ed), London: RIBA Enterprises
Parnham, Phil & Rispin, Chris(2001)Residential Property
Appraisal, Spon Press
Isaac, David (1996) Property Development: Appraisal and
Finance (Building & Surveying) Basingstoke: Palgrave
Wilkinson, Sara, and Reed, Richard (2008) Property
Development, London: Routledge
Fraser W.A (2004) Cash-flow Appraisal for Property Investment
Basingstoke: Palgrave Macmillan
Arlen C. Mills and Dorothy Z. Mills (2004) Communicating the
Appraisal: The Small Residential Income Property Appraisal
Report
European Property Sustainability Matters- reduce, reuse,
recycle. King Sturge.
Property in the Economy Sustainability and corporate real
estate. RICS
Life cycle costing of sustainable design. RICS
Other Resources:
Online resource center UDo http://udo.derby.ac.uk
Guidance for access to Knovel Interactive Electronic Book
Library
Look up the book in the Online Library Catalogue (Prism).
http://talis-prism.derby.ac.uk/TalisPrism/
When you find the book, select the link (e.g. EBL) & login with
your University username & password.
Books in the Knovel Interactive electronic book library are not
listed and are not in the Online Library Catalogue.
The Knovel electronic book library contains about 1700
reference books in technology and applied science and can be
searched by subject.
Go to the University of Derby Electronic Library
https://ulib.derby.ac.uk/library/information_resources.php then
choose either Electronic book collections or Resources by
Subject.
Books and reports published by the Building Research

Establishment are contained in the CIS (Technical Indexes / IHS

database)
For help ask David Clark (Subject Advisor: Science and
Technology)
Library (L103), Tel 01332 591203
Email: D.Clark@derby.ac.uk