Courses

Postgraduate


Real Estate Development MSc

Apply via UKPASS

UKPASS code: 037084 | Institution code: W50 | Attendance mode: Full-time

Start: 15 September 2014
Duration: 1 year

Location: Central London
Campus: Marylebone

All prices quoted are for the academic year 2014/15 only. Alumni discount.

Home/EU: £7,000.00
Overseas: £11,500.00

View course-specific entry requirements

You should hold a degree (normally at least Second Class Honours) from a UK university or one of comparable standing, or membership of a recognised professional body whose entry requirements are equivalent to graduate level, and ideally some relevant practical experience.

The course is well suited for those with a first degree in geography, economics, a traditional science, a property-related discipline or law. If your first degree and other qualifications are not so well aligned the course team may require further evidence of your ability to study the subject material as deemed appropriate. If your first language is not English you will need an IELTS score of 6.5.

View standard entry requirements

The aim of the course is to provide you with a detailed understanding of the property development and appraisal process, encompassing the financial, physical, legal and social aspects. You will analyse development situations and respond to particular development problems with derived solutions. You will also be able to critically appraise options and independently evaluate alternative courses of action. The course is accredited by the Royal Institution of Chartered Surveyors (RICS).

As part of the Development Finance and Funding module, students undertake a study trip to New York.

Course leader:Andrew Youens
E: youensa@westminster.ac.uk

Core modules

Dissertation

The work for this module involves the completion of a structured research programme resulting in a dissertation or major research project. You can opt for a traditional academic dissertation which identifies a hypothesis and research questions, involves some original research, draws conclusions and, if appropriate, makes recommendations. Alternatively you can complete a defined project involving the preparation of a strategy or action plan for an issue relevant to your studies, and include a 20,000-word reflection on, and evaluation of, the strengths and weaknesses of the approach and the constraints which are likely to impact on the proposals.

Development Finance and Funding

This module gives you the opportunity to study and analyse the finance and funding of property development and investment transactions. You will explore the concepts and law surrounding the valuation and feasibility of developing land and buildings to an advanced level. This module includes a study trip to New York.

Finance and Asset Management

The module aims to set corporate decision making in the context of the business environment, corporate goals and the practice of company finance, estate and portfolio management. You will gain a grounding in property as an asset class, and a practical and theoretical appreciation of the techniques and practices currently being used in the management and valuation of commercial property. In the financial element of this module, you will explore issues relating to accounting principles and financial management accounts, and the implications of tax. Equally important is an appreciation of ratio analysis and strategy.

Law for Property Professionals

This module fosters reflection on where the law comes from and how it develops (including the influence of European Law), and encourages your understanding of the relationship between the legal process and social change. You will develop mastery of the key principles (and their operation in practice) of English Law relating to business, including contract, tort, real estate law and regulatory regimes which particularly affect the property industry. You will also gain a greater understanding of legal theory, including statute and judicial precedent; the role of Europe; tort, contract and business law; administrative law and regulatory regimes; real estate law; and landlord and tenant law.

Project Implementation Process

This module, based on problem-solving scenarios, enables you to develop a strategic approach to the implementation of complex real estate development projects. It provides you with an analytical review of the roles, responsibilities and methods for decision making of a multidisciplinary team, from client’s identification of need, through project feasibility, design and construction, to operation and maintenance of a built facility. You will examine the differing objectives of generic procurement types, the identification and critical analysis of planning and development issues, and the impact of legal and regulatory frameworks to environmental and occupational health conditions, contractual matters and dispute avoidance.

Site Assembly and Development

This module focuses on the financial, physical, legal and social aspects necessary for successful real estate development projects to take place. The emphasis is on the needs of end users of developments, and those other key players in the development process. There will be an emphasis on commercial real estate development, but the module will also serve well those requiring an understanding of mixed use and residential development projects and processes. The legal focus will centre on the system in England and Wales although techniques and examples will be drawn from a range of jurisdictions.

Space Strategies and Legislation

This module aims to develop your cultural and analytical understanding of how buildings and the space configuration within them support the strategic objectives of the organisation. The module addresses sustainability, corporate social responsibility and the underpinning legislation. It also reviews the principles and application of the legislation affecting the workplace. You will explore the concepts of strategic business space usage, and gain a critical understanding of the use and management of space resources in the role of informed client. You will also develop your ability to analyse and adopt an informed tactical methodology toward solutions for space planning and utilisation, and be able to apply a range of decision-making tools for strategic space planning and management.

Option modules

Choose one from the following:

Landlord and Tenant

This module covers the concepts and law surrounding commercial lease practice and rent reviews/lease negotiation, from both a landlord’s and tenant’s perspective. You will develop an understanding of and familiarity with the legal background to the landlord and tenant relationship, and its application in practice. This will include the study of statutory security of tenure, rent review, and other usual lease clauses including ‘break’ clauses, repair, user, alterations and alienation. You will also consider and discuss points of practical difficulty and complexity involved in negotiating lease terms and their subsequent implementation.

Property Finance: Lending and Risk Strategies

This module addresses the strategic role of lending in the property sector. The sector has become dependent upon lenders for the vast majority of cash inflows into the sector, and the module will look at the history of the involvement of lenders, the risk assessment and procedures involved in lending on property. The study of traditional banking will be supplemented with investment banking techniques.

Property Management: Law and Practice

This module focuses on the concepts and law surrounding the management of real estate at an advanced level. It provides you with a practical approach to property management issues, such as maintaining the rent flow; protecting (and enhancing) the fabric of the investment; maintaining tenant covenant strength; techniques for maximising rental levels including open market dealings; break clauses; the role of ‘contracting out’ leases; considering the 2007 Code of Practice (and industry reaction to it); and how to meet investment aims in the context of modern occupiers’ requirements.

Professional Accreditation

This course is fully accredited by the Royal Institution of Chartered Surveyors.

Associated careers

The RICS accreditation will enable you to take the Professional Assessment of Competence after a period of suitable employment. There are employment opportunities in the public, private and not-for-profit sectors. Some part-time students are employed by surveying firms to receive accredited training while working.

Length of course

One year full-time; two years part-time

Location

Central London (Marylebone)

    

Employability

At Westminster, we have always believed that your University experience should be designed to enhance your professional life.We place as much emphasis on gaining skills relevant to the workplace as on learning the academic discipline that you are studying.

Obtaining a placement, part-time or vacation job while you study will provide you with extra cash and help you demonstrate that you have the skills employers are looking for.

In London, there is a plentiful supply of part-time work - most students at the University of Westminster work part-time (or full-time during vacations) to help support their studies.

Visit the employability section on our site

Career Development Centre

Our Career Development Centre can help and support you throughout your study and after graduation. You can use our comprehensive Online Vacancy Service to find part-time, placement, voluntary and graduate opportunities.

Our website provides comprehensive information covering topics such as events, job searching, CVs and applications. We organise presentations, networking events with employers, professional bodies, alumni and other organisations to help you with your career planning.

Our careers consultants are experienced personal development trainers and offer a range of self-development workshops to improve your job seeking strategies, to enhance self-confidence and provide self-marketing techniques.

We offer support for students and recent graduates to obtain volunteer placements and also for those interested in developing their enterprise skills.

We can help you to:

  • Find part-time / vacation, placement and graduate jobs, including voluntary experience
  • Explore how to develop the skills that employers are looking for
  • Plan your career development
  • Identify your career options
  • Market yourself effectively in CVs, application forms and interviews.

Find out more about the Career Development Centre

Career options in your subject area

We offer targeted careers information for this course. View the range of careers options that are available to you after you graduate:

Visit the Career Development Centre's 'finding work in your subject area'

Visit the Prospects 'options with your subject'

Our team of careers consultants work closely with Faculty departments to deliver tailored employability support including subject specific workshops, employer events and careers information, advice and guidance.

Professionally accredited course

The course is accredited by the Royal Institution of Chartered Surveyors.

Central London location and contacts

Our central London location provides direct access to professional institutions and practice. The course is informed by current industry priorities.

Professionally-focused course

In this professionally-focused course the emphasis is on real-life situations and practical examples.

Diverse teaching methods include ‘enquiry-based learning’ where you engage with and problem solve complex open-ended scenarios, preparing you for such situations in your career.

International perspective

Join a diverse and vibrant student community, with one of the UK’s largest international student populations.

The course involves a study trip to New York for those taking the module Development Finance and Funding.

Cutting-edge research

Our staff’s research and consultancy informs their teaching so you will benefit from the latest developments in the field. In the last Research Assessment Exercise (2008), 20 per cent of Westminster's research in Architecture and the Built Environment was judged as 'world-leading', and a further 40 per cent as 'internationally excellent'. Staff also consult for government, private sector and charitable organisations.

World-class facilities

Study at the newly refurbished Marylebone Campus, where a £20million development has provided world-class facilities.

Liu Yingyi

Real Estate Development MSc

Ying Yi 

“The best thing about the course is expanding my knowledge of the real estate market. The teachers have a very good background of this market. There is a Career Development Centre at Westminster, which is very helpful for students. There are many job fairs and companies like BNP and CUSHMAN attend. Students can talk to staff from those companies and get some really helpful information about the job market. The University of Westminster is always ready to help students.”


Information evenings

Upcoming postgraduate information evenings

Date Title Location
11 June 2014 Postgraduate information evening - 11 June 2014 Cavendish, Marylebone, Harrow, Regent

View subject specific information evenings

About the faculty

Faculty of Architecture and the Built Environment

We are one of the country's leading centres for the study of Architecture and the Built Environment, covering the core subject areas that address the future shape of our cities.

Find out more in our welcome from the Dean of the faculty

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