Real Estate MSc

This exciting and innovative course is ideal if you are seeking to enhance your understanding of a range of topical issues in real estate finance, investment and asset management.

The course is fully accredited by the Royal Institution of Chartered Surveyors (RICS).

What will you study?

You will extend and develop key research and analytical skills. You will carry out a number of work-based assessments enabling you to add to your practical competencies and add value to your firm's operations. Most modules are delivered through e-learning methods complemented by face-to-face lectures and workshops, normally in short, intensive blocks. Seminars, discussions and academic support will take place both in person and online.

Please note that this is an indicative list of modules and is not intended as a definitive list. Those listed here may also be a mixture of core and optional modules.

View the module diagram (PDF) and modules dates (PDF) for this course.

Core modules (Real Estate MSc)

• Corporate Strategy and Fundamentals in Real Estate

• Corporate Strategy and Fundamentals in Real Estate

  Businesses and corporations are at the heart of our western model of economics and success. It is thus the intent of this module to look closely at the dynamics and trends that arise due to the occupation of buildings enabling these corporations and businesses to flourish. These trends and dynamics are many-fold and attention is brought to how landlords and tenants react to the economic cycle, to a greater or lesser supply and demand of these buildings, how occupiers utilise space and how their requirements have changed over time and also how it affects the strategic management and design of these spaces.

  This module introduces the building blocks of real estate examining supply and demand for the key sectors, the players in the market and effect of micro and macro economics on the property market.

  
   
• Real Estate Law Principles

• Real Estate Law Principles

  This module aims to provide students with a detailed and critical understanding and knowledge of the principles of UK real estate covering sources of law, land law, the law of contract and the landlord and tenant relationship. It provides an introduction to the extent and application of law from the UK and EU including the importance of statute, statutory interpretation and the Doctrine of Precedence. It is taught through a series of lectures and class exercises with assessment made through assignments coupled with online support and written materials.

  
   
• Real Estate Valuations

• Real Estate Valuations

  The module aims to develop a student's understanding and critical appraisal ability over a wide range of valuation methods and appraisal techniques. It seeks to link academic theory and approach with concepts and methodology used commonly in practice. Students will be involved with different valuation techniques using a range of spreadsheets and valuation models including commercial software. The module will also aim to provide students with a medium in which they question and challenge traditionally held views over valuation issues. Delivery of module content will be through a series of lectures and class exercises. Assessment is through assignments coupled with supported by online support and by written materials

  
   
• International Project

• International Project

  This module is based on a week-long field trip to a major international destination and will normally take place at the end of the spring term. The field trip forms the central focus for a major project investigating the operation of the commercial real estate markets within a global context. The project will draw on students' valuation and legal knowledge and on their practice experiences and develop their communication, mediation and negotiation skills. Part of the project will require students to work in teams, analyse a simulated market situation and prepare a client report. The module will also include an element of individual analytical work.

  
   
• European Real Estate Investment Practice

• European Real Estate Investment Practice

  Cross-border investment and the analysis of global economy combined with each specific market in Europe is growing on a regular basis. As such knowledge of property specific topics such as ease/difficulty of entry into a specific market the landlord/tenant relationship, the legal, planning, financial, tax, and professional elements differ significantly in each market. Also property has of recent become more liquid giving rise to indirect property (or instruments). Euroland also has its own very specific way of property valuation and market forces giving rise to a unique manner in which to prepare cashflows. The aim of this module is to develop students' knowledge in this area and enable them critically to assess the benefits and hurdles of cross-border investment. This module is delivered in a short block of lectures, case study exercises and workshops and supported by open learning. Assessment is via a critical essay and a discussion forum.

  
   

Optional modules (Real Estate MSc)

• Planning Law and Practice

• Planning Law and Practice

  This module is an essential ingredient in study of spatial planning system in the UK. There is an expectation that the legal framework, including European provisions and any pending changes providing for the implementation of the system, are critically evaluated. A practical application of decision making is delivered through the reflective evaluation of planning issues for a local case study in a written statement and the implementation of the main processes involved in a public inquiry through role play.

  
   
• Sustainable Facilities Management and Property Management

• Sustainable Facilities Management and Property Management

  The module aims to provide a structured approach to enable students to develop a critical understanding of facilities and property management both in terms of current practice and its evolution to respond to the needs imposed by changing attitudes to social and environmental sustainability. It requires students to analyse and assess how integrated responses to the maintenance, improvement and adaptation of buildings can be achieved to align with corporate aims and objectives. Students will consider the wide range of constraints (including legal and regulatory frameworks) which impact on building use and operation, and develop a critical understanding of how occupier needs can be assessed, services procured and decisions made. 

  The delivery of module content will be through a series of lectures and class exercises.  Assessment is through assignments supported by online support and written materials.

  
   
• Investment Appraisal and Risk Management

• Investment Appraisal and Risk Management

  The module develops student skills in carrying out property investment analysis with a critical understanding of discounted cash flow variables and performance measures including decision rules. It introduces the student to the analysis of risk within property and within a multi-asset portfolio. This enables the students to build a framework for risk analysis in the investment decision process. This module is delivered in a short block of lectures, case study exercises and workshops and supported by open learning. Assessment is via a critical essay (coursework) and a discussion forum.

  
   
• Sustainable European Built Environment

• Sustainable European Built Environment

  This module equips the students to be critical aware of the historical and current context of sustainable development, particularly in the built and natural environments and enable them to appreciate an appropriate balance between environmental, economic and social considerations in achieving sustainable development. It also ensures that students acquire systematic understanding of the principles of construction technology and engage in critical appraisal of the theory and practice of European design and construction in the light of ever increasing environmental considerations. Delivered by lectures, seminars and self directed study the assessment is through a seminar paper and technical report on related areas.

  
   
• Development Strategy and Funding

• Development Strategy and Funding

  Land and property development is closely linked with all aspects of planning. Although planners are perceived as being opposed to the wishes of developers it is more usual for the planning profession to devise strategies and policies which address development pressures. This module enables planners to understand the development process in detail from the viewpoint of a developer. The way in which funding packages, development economics and the macroeconomic environment can influence development and planning, including sustainability issues, is explored by the use of case studies and practical examples.

  
   
• Statutory Valuations

• Statutory Valuations

  Statutory valuations need to be undertaken for a wide range of purposes in order to comply with planning, tax, compulsory purchase, rating and tenancy laws and regulations.This module aims to provide students with an initial background understanding of the historical perspective of various strands of statutory valuations and the wide range of reasons why these valuations are required.

  In detail, students will learn how to analyse complex valuation scenarios imposed by statutory rules, to apply legal knowledge provided in both statutory provision and evolved from case law, to appreciate some of the valuation difficulties and weaknesses encountered by practitioners and to critically appraise how different valuation factors and approaches impact on valuation outcomes.

  The module content is taught through a series of lectures and class exercises and assessment is through assignments supported by online support, a course reader and other written materials.

  
   
• Real Estate Asset Management

• Real Estate Asset Management

  The module aims to develop a student's understanding and knowledge in respect of real estate asset management. In particular it will consider traditional property management and real estate strategies and challenge in a critical way traditional models against more contemporary approaches. The module will also seek to equip students with the ability to analyse at strategic, corporate and property levels methodologies which permit the user to establish the worth of asset management policies. A wide range of legal contexts will provide the backdrop for students to gain a deep critical analysis of asset management roles and responsibilities.

  Delivery of module content will be through a series of lectures and class exercises. Assessment is through assignments supported by on-line materials and a printed course reader.

  
   
• Sustainable Property Investment and Valuation

• Sustainable Property Investment and Valuation

  The module aims to develop and challenge students' knowledge and understanding of conventional valuation and investment theory and practice by the development of critical knowledge and understanding of how sustainability principles, regulation and legal and professional frameworks are impacting on investor and occupier choice. Additionally, the module seeks to develop in students questioning approach to conventional views of value such that they can place these within the wider paradigms of social and environmental valuation questioning approach to conventional views of value such that they can place these within the wider paradigms of social and environmental valuation.

  The delivery of module content will be through a series of lectures and class discussions and formative exercises, all supported by online materials. Assessment is through an essay and scenario evaluation and professional report.

  
   
• Finance, Funding, and Indirect Real Estate

• Finance, Funding, and Indirect Real Estate

  The real estate world is renowned for utilising finance, however the shortage of in-depth knowledge is apparent. The growth of indirect investment vehicles such as REITS, pooled funds, coupled with the development of sophisticated property instruments such as securitisation and derivatives have seen increasing volumes traded in the recent past. This module aims to increase the students' knowledge of both the applicability and use of public and private finance within property, property companies and investment. This module also aims  to develop students' knowledge of  indirect real estate and will enable them to critically  assess both the nature of the vehicles and their origins, potential  impact on the real estate markets, and the influence on the greater economy. This analysis is also reflected in the use of cashflows for exemplification of financial risks. The module is delivered in  short block lectures, case study exercises, workshops and supported by open learning. Assessment is via a critical essay and a discussion forum.

  
   
• International Project

• International Project

  This module is based on a week-long field trip to a major international destination and will normally take place at the end of the spring term. The field trip forms the central focus for a major project investigating the operation of the commercial real estate markets within a global context. The project will draw on students' valuation and legal knowledge and on their practice experiences and develop their communication, mediation and negotiation skills. Part of the project will require students to work in teams, analyse a simulated market situation and prepare a client report. The module will also include an element of individual analytical work.

  
   

Core modules (Development pathway)

• Real Estate Valuations

• Real Estate Valuations

  The module aims to develop a student's understanding and critical appraisal ability over a wide range of valuation methods and appraisal techniques. It seeks to link academic theory and approach with concepts and methodology used commonly in practice. Students will be involved with different valuation techniques using a range of spreadsheets and valuation models including commercial software. The module will also aim to provide students with a medium in which they question and challenge traditionally held views over valuation issues. Delivery of module content will be through a series of lectures and class exercises. Assessment is through assignments coupled with supported by online support and by written materials

  
   
• Real Estate Law Principles

• Real Estate Law Principles

  This module aims to provide students with a detailed and critical understanding and knowledge of the principles of UK real estate covering sources of law, land law, the law of contract and the landlord and tenant relationship. It provides an introduction to the extent and application of law from the UK and EU including the importance of statute, statutory interpretation and the Doctrine of Precedence. It is taught through a series of lectures and class exercises with assessment made through assignments coupled with online support and written materials.

  
   
• International Project

• International Project

  This module is based on a week-long field trip to a major international destination and will normally take place at the end of the spring term. The field trip forms the central focus for a major project investigating the operation of the commercial real estate markets within a global context. The project will draw on students' valuation and legal knowledge and on their practice experiences and develop their communication, mediation and negotiation skills. Part of the project will require students to work in teams, analyse a simulated market situation and prepare a client report. The module will also include an element of individual analytical work.

  
   
• Regeneration

• Regeneration

  Integrating sustainable strategies in regeneration practice is an important aim, as places – far from being exclusively clusters of buildings – are complex socio-economic systems that need more integrated answers to solve the problems they are affected by. This module on Regeneration provides an opportunity for a deeper understanding of social, economic and environmental issues, problems and their causes in urban, suburban and rural spatial contexts. Also there is the opportunity to critique different types of strategies and drivers, funding options and plans and the role of key players in providing solutions to the revitalization and regeneration of communities.

  
   
• Planning Law and Practice

• Planning Law and Practice

  This module is an essential ingredient in study of spatial planning system in the UK. There is an expectation that the legal framework, including European provisions and any pending changes providing for the implementation of the system, are critically evaluated. A practical application of decision making is delivered through the reflective evaluation of planning issues for a local case study in a written statement and the implementation of the main processes involved in a public inquiry through role play.

  
   
• Development Strategy and Funding

• Development Strategy and Funding

  Land and property development is closely linked with all aspects of planning. Although planners are perceived as being opposed to the wishes of developers it is more usual for the planning profession to devise strategies and policies which address development pressures. This module enables planners to understand the development process in detail from the viewpoint of a developer. The way in which funding packages, development economics and the macroeconomic environment can influence development and planning, including sustainability issues, is explored by the use of case studies and practical examples.

  
   

Optional modules (Development pathway)

• Investment Appraisal and Risk Management

• Investment Appraisal and Risk Management

  The module develops student skills in carrying out property investment analysis with a critical understanding of discounted cash flow variables and performance measures including decision rules. It introduces the student to the analysis of risk within property and within a multi-asset portfolio. This enables the students to build a framework for risk analysis in the investment decision process. This module is delivered in a short block of lectures, case study exercises and workshops and supported by open learning. Assessment is via a critical essay (coursework) and a discussion forum.

  
   
• Sustainable European Built Environment

• Sustainable European Built Environment

  This module equips the students to be critical aware of the historical and current context of sustainable development, particularly in the built and natural environments and enable them to appreciate an appropriate balance between environmental, economic and social considerations in achieving sustainable development. It also ensures that students acquire systematic understanding of the principles of construction technology and engage in critical appraisal of the theory and practice of European design and construction in the light of ever increasing environmental considerations. Delivered by lectures, seminars and self directed study the assessment is through a seminar paper and technical report on related areas.

  
   
• The Challenge of Climate Change

• The Challenge of Climate Change

  This module reviews current ideas on climate change and its implications for society. The complexities of this debate and their relevance to a sustainable future for human societies, and to ecosystems and planetary well being, more generally, are explored. Keynote lectures will introduce the science of climate change; uncertainties and challenges in global climate change modelling; implications of climate change predictions; appropriate societal responses; and 'best' strategies for mitigating potential climate change and its impacts. The challenges of policy-making against a background of uncertain science are explored through case studies and role-play scenarios and by site visits.

  
   
• Economic Sustainability for Real Estate

• Economic Sustainability for Real Estate

  This module aims to develop in students a critical knowledge of the basic principles of economics in order that they may begin to challenge conventional theoretical positions in relation to the real estate markets. Through a series of lectures and directed reading students are encouraged to develop knowledge of alternative paradigms and schools of through so that they may evaluate how sustainability principles may be applied to commercial real estate markets in a way compatible with economic survival and success. The module is assessed through a group report (40%) and individual assignment (60%).

  
   
• Finance, Funding, and Indirect Real Estate

• Finance, Funding, and Indirect Real Estate

  The real estate world is renowned for utilising finance, however the shortage of in-depth knowledge is apparent. The growth of indirect investment vehicles such as REITS, pooled funds, coupled with the development of sophisticated property instruments such as securitisation and derivatives have seen increasing volumes traded in the recent past. This module aims to increase the students' knowledge of both the applicability and use of public and private finance within property, property companies and investment. This module also aims  to develop students' knowledge of  indirect real estate and will enable them to critically  assess both the nature of the vehicles and their origins, potential  impact on the real estate markets, and the influence on the greater economy. This analysis is also reflected in the use of cashflows for exemplification of financial risks. The module is delivered in  short block lectures, case study exercises, workshops and supported by open learning. Assessment is via a critical essay and a discussion forum.

  
   
• International Project

• International Project

  This module is based on a week-long field trip to a major international destination and will normally take place at the end of the spring term. The field trip forms the central focus for a major project investigating the operation of the commercial real estate markets within a global context. The project will draw on students' valuation and legal knowledge and on their practice experiences and develop their communication, mediation and negotiation skills. Part of the project will require students to work in teams, analyse a simulated market situation and prepare a client report. The module will also include an element of individual analytical work.

  
   

Core modules (Sustainable Asset Management & Valuations pathway)

• Corporate Strategy and Fundamentals in Real Estate

• Corporate Strategy and Fundamentals in Real Estate

  Businesses and corporations are at the heart of our western model of economics and success. It is thus the intent of this module to look closely at the dynamics and trends that arise due to the occupation of buildings enabling these corporations and businesses to flourish. These trends and dynamics are many-fold and attention is brought to how landlords and tenants react to the economic cycle, to a greater or lesser supply and demand of these buildings, how occupiers utilise space and how their requirements have changed over time and also how it affects the strategic management and design of these spaces.

  This module introduces the building blocks of real estate examining supply and demand for the key sectors, the players in the market and effect of micro and macro economics on the property market.

  
   
• Real Estate Valuations

• Real Estate Valuations

  The module aims to develop a student's understanding and critical appraisal ability over a wide range of valuation methods and appraisal techniques. It seeks to link academic theory and approach with concepts and methodology used commonly in practice. Students will be involved with different valuation techniques using a range of spreadsheets and valuation models including commercial software. The module will also aim to provide students with a medium in which they question and challenge traditionally held views over valuation issues. Delivery of module content will be through a series of lectures and class exercises. Assessment is through assignments coupled with supported by online support and by written materials

  
   
• Real Estate Law Principles

• Real Estate Law Principles

  This module aims to provide students with a detailed and critical understanding and knowledge of the principles of UK real estate covering sources of law, land law, the law of contract and the landlord and tenant relationship. It provides an introduction to the extent and application of law from the UK and EU including the importance of statute, statutory interpretation and the Doctrine of Precedence. It is taught through a series of lectures and class exercises with assessment made through assignments coupled with online support and written materials.

  
   
• International Project

• International Project

  This module is based on a week-long field trip to a major international destination and will normally take place at the end of the spring term. The field trip forms the central focus for a major project investigating the operation of the commercial real estate markets within a global context. The project will draw on students' valuation and legal knowledge and on their practice experiences and develop their communication, mediation and negotiation skills. Part of the project will require students to work in teams, analyse a simulated market situation and prepare a client report. The module will also include an element of individual analytical work.

  
   
• Sustainable Facilities Management and Property Management

• Sustainable Facilities Management and Property Management

  The module aims to provide a structured approach to enable students to develop a critical understanding of facilities and property management both in terms of current practice and its evolution to respond to the needs imposed by changing attitudes to social and environmental sustainability. It requires students to analyse and assess how integrated responses to the maintenance, improvement and adaptation of buildings can be achieved to align with corporate aims and objectives. Students will consider the wide range of constraints (including legal and regulatory frameworks) which impact on building use and operation, and develop a critical understanding of how occupier needs can be assessed, services procured and decisions made. 

  The delivery of module content will be through a series of lectures and class exercises.  Assessment is through assignments supported by online support and written materials.

  
   
• Economic Sustainability for Real Estate

• Economic Sustainability for Real Estate

  This module aims to develop in students a critical knowledge of the basic principles of economics in order that they may begin to challenge conventional theoretical positions in relation to the real estate markets. Through a series of lectures and directed reading students are encouraged to develop knowledge of alternative paradigms and schools of through so that they may evaluate how sustainability principles may be applied to commercial real estate markets in a way compatible with economic survival and success. The module is assessed through a group report (40%) and individual assignment (60%).

  
   
• Real Estate Asset Management

• Real Estate Asset Management

  The module aims to develop a student's understanding and knowledge in respect of real estate asset management. In particular it will consider traditional property management and real estate strategies and challenge in a critical way traditional models against more contemporary approaches. The module will also seek to equip students with the ability to analyse at strategic, corporate and property levels methodologies which permit the user to establish the worth of asset management policies. A wide range of legal contexts will provide the backdrop for students to gain a deep critical analysis of asset management roles and responsibilities.

  Delivery of module content will be through a series of lectures and class exercises. Assessment is through assignments supported by on-line materials and a printed course reader.

  
   
• Sustainable Property Investment and Valuation

• Sustainable Property Investment and Valuation

  The module aims to develop and challenge students' knowledge and understanding of conventional valuation and investment theory and practice by the development of critical knowledge and understanding of how sustainability principles, regulation and legal and professional frameworks are impacting on investor and occupier choice. Additionally, the module seeks to develop in students questioning approach to conventional views of value such that they can place these within the wider paradigms of social and environmental valuation questioning approach to conventional views of value such that they can place these within the wider paradigms of social and environmental valuation.

  The delivery of module content will be through a series of lectures and class discussions and formative exercises, all supported by online materials. Assessment is through an essay and scenario evaluation and professional report.

  
   

Optional modules (Sustainable Asset Management & Valuations)

• Investment Appraisal and Risk Management

• Investment Appraisal and Risk Management

  The module develops student skills in carrying out property investment analysis with a critical understanding of discounted cash flow variables and performance measures including decision rules. It introduces the student to the analysis of risk within property and within a multi-asset portfolio. This enables the students to build a framework for risk analysis in the investment decision process. This module is delivered in a short block of lectures, case study exercises and workshops and supported by open learning. Assessment is via a critical essay (coursework) and a discussion forum.

  
   
• Sustainable European Built Environment

• Sustainable European Built Environment

  This module equips the students to be critical aware of the historical and current context of sustainable development, particularly in the built and natural environments and enable them to appreciate an appropriate balance between environmental, economic and social considerations in achieving sustainable development. It also ensures that students acquire systematic understanding of the principles of construction technology and engage in critical appraisal of the theory and practice of European design and construction in the light of ever increasing environmental considerations. Delivered by lectures, seminars and self directed study the assessment is through a seminar paper and technical report on related areas.

  
   
• The Challenge of Climate Change

• The Challenge of Climate Change

  This module reviews current ideas on climate change and its implications for society. The complexities of this debate and their relevance to a sustainable future for human societies, and to ecosystems and planetary well being, more generally, are explored. Keynote lectures will introduce the science of climate change; uncertainties and challenges in global climate change modelling; implications of climate change predictions; appropriate societal responses; and 'best' strategies for mitigating potential climate change and its impacts. The challenges of policy-making against a background of uncertain science are explored through case studies and role-play scenarios and by site visits.

  
   

Core research modules (all pathways)

• Research Concepts for the Built Environment

• Research Concepts for the Built Environment

  This half module introduces students to the research process and enables them to acquire a critical knowledge of the concept and theory of various research methodologies, appropriate to the built environment. It provides them with practice of conducting research via secondary sources, within their own guided choice of subject. Delivery is by a series of seminars, workshops and tutorials and assessment is through a literature review and portfolio of critical reviews. 

  
   
• Research Proposal

• Research Proposal

  This module builds on the half module in research methods which students will have already studied. Through a short series of lectures and workshops augmented by individualised tutorials, students will explore subject material to enable them to make a robust and informed research proposal which utilises appropriate methodological approaches and which lays the foundations for their subsequent Critical Practice Project. The module is assessed through a single submission of a 4,000-word proposal.

   

  
   
• Critical Practice Project (for part-time)

• Critical Practice Project (for part-time)

  This double module provides the opportunity for students, upon successful completion of their Research Concepts for the Built Environment module, to undertake a piece of original work related to their own practice. Through investigation of an area related to their work or that of their organisations they will be develop a theoretically informed body of work that integrates both theory and practice. The module is supported by an induction day and individual tutorials and assessed by the major submission.

   

  
   
• Dissertation (for full time)

• Dissertation (for full time)

  This double module is designed to ensure that students can produce a substantial, original body of authoritative work by engaging in both primary and secondary research at masters level. It enables them to achieve a comprehensive understanding and application of the key issues of the subject selected and aims to develop in students a commitment to research and understanding of its likely role in their future careers. Students are supported by tutorials and assessment is by a written dissertation.

  
   
• Conference Paper

• Conference Paper

  This half module provides students with the opportunity to devise and deliver an original piece of research in open forum and thereby helps them to extend the ethos of research culture into their subsequent professional work, and to encourage continuing professional development and life-long learning. The module requires them to develop an aspect of their dissertation or critical practice project (as applicable) into a short conference paper and presentation and to deliver this. Assessment is of both the written paper and the oral presentation.

  
   

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