Teaching and learning in 2020/21

In order to prioritise the safety of students and staff, we are planning to teach through a flexible combination of online and onsite learning. For more details on changes to this course, see our undergraduate course changes page or postgraduate course changes page.

Course Overview

UK/EU Fees £10,500 *
International Fees £14,000 *
Alumni Discount See details
Duration 1 year

* Price per academic year

Additional start date available!

This course now has an additional start date available in January 2021.

Course summary

Informed by our extensive commercial and professional partnerships within the property sector, this practical Master’s course will prepare you to adapt and excel within the complex and ever-changing real estate market – from valuation and appraisal to the strategic management and development of commercial and residential property assets. 

Accredited by the Royal Institution of Chartered Surveyors (RICS), it aims to provide a challenging, stimulating and professionally relevant course of study that is directly related to the valuation, management and development of real estate property. Capitalising on our excellent industry contacts, course content is informed by leading firms such as Barratt Homes and British Land, as well as Savills and Cushman and Wakefield, who regularly send their own staff to train with us.

Taught by staff who will share their own experiences as surveyors and planners, you'll gain a detailed understanding of the property development and appraisal process, encompassing the financial, physical, legal and social aspects. You’ll also develop the latest management skills and techniques to successfully deliver projects to meet client expectations taking account of any external constraints. 

Our central London location enables us to invite a wide range of professionals to give guest lectures and we arrange various site visits, so you can experience real-life estate strategies and see developments from construction through to completion. As part of the Development Finance and Funding module, a limited number of students have the opportunity to participate in an international study trip, which in 2019 included visits to Brookfield Properties and Cushman and Wakefield in New York. To take part in this trip, you'll have to pay an additional fee of about £950.

The course is ideally suited to graduates with some existing property experience, who aspire to senior positions in real estate development or property management. However, you will be welcomed if you’re seeking to move to a career within this dynamic industry and can demonstrate your passion for property.

Most of our graduates go on to work for central London property firms, in real estate development, valuation or estate management, while others pursue property-related careers with local authorities and housing associations.

Top reasons to study with us

  • 16th in UK and 5th in London for Town Planning (Source: Complete University Guide 2020)
  • One of the few UK universities to bring together all the disciplines that inform the design and development of our towns and cities
  • Excellent industry links with property firms and construction companies including Lendlease, Knight Frank, Chase and Partners, RICS and Falcon Chambers
  • Street walks taking in Marylebone, Euston and Fitzrovia, and street talks incorporating Kings Cross redevelopment, Baker Street and Mayfair
  • London location enables us to invite directors of leading property firms to deliver guest lectures, previously from Cushman and Wakefield, Savills, CBRE, JLL, Lend Lease and BRE
  • Multicultural learning experience with students from all over the world
  • Contractors, developers, professional consultancies, client organisations, central government and local authorities all employ our graduates

Course structure

The aim of the course is to provide you with a detailed understanding of the property development and appraisal process, encompassing valuation, financial, physical, legal and social aspects. You'll analyse development situations and respond to particular development problems with derived solutions. You’ll also enhance your capability to critically appraise options and independently evaluate alternative courses of action. There are seven core modules, including the dissertation, and one option module.

Depending on your choice of option modules, you can tailor your studies towards valuation, legal or property finance and investment, learning more about procurement surveying, how to raise capital, take financial decisions or deal with banks and investors.

The modules below are indicative of what you will study on this course. You will take modules totalling 180 credits.

Semester 1

In the first semester, you'll study subjects including property and planning law, valuation and finance with examples from real case scenarios. Industry guest speakers will complement lectures delivered by the course team, and student activities will include site visits and work on property development and finance projects that will bring together skills newly acquired as part of your learning process.

Semester 2

In the second semester, you'll be given the opportunity to register for an optional field trip to an international property market destination (subject to additional cost). In the past, for example, students travelled to New York to study urban regeneration and real estate development in midtown Manhattan and the surrounding areas. They visited some of the major development firms, the city’s business department, business improvement districts and one of the world’s largest new developments at Hudson Yards. 

To complete the course, you need to choose a research topic, conduct empirical research and produce an academic dissertation. Previous students have, for example, considered the impact of Crossrail on house prices in outer London boroughs, analysed the shortcomings and alternatives to the Help to Buy Scheme (HTB) and the impact of tenant rights on the residential property markets in the UK and Germany.

Core modules

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. As part of the Development Finance and Funding module, a limited number of students will have the opportunity of a study trip to New York. The fee for this will be about £950.

20 credits

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.

40 credits

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.

20 credits

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.

20 credits

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.

20 credits

In this module you will focus 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.

20 credits

The aim of this module is to develop your cultural and analytical understanding of how buildings and the space configuration within them support the strategic objectives of the organisation. In this module you will address sustainability, corporate social responsibility and the underpinning legislation. You will also review 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.

20 credits

Option modules

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.

20 credits

This module provides an overview of the planning system in England and Wales. It examines what planners do in practice and the role of planning in the property development process. Students will learn how to determine whether something requires planning permission, and how to appraise the planning context of a site. The module will examine where local planning policies come from and how planning applications are determined.

20 credits

In this module you will address the strategic role of lending in the property sector. The sector has become dependent upon lenders for the vast majority of cash inflows, and in the module you 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.

20 credits

This module centres upon methods of valuation applicable to properties for rating, and compulsory purchase purposes together with leasehold enfranchisement and properties subject to the housing acts.

20 credits

Professional accreditation

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

Programme Specification

For more details on course structure and modules, and how you will be taught and assessed, see the programme specification.

Careers

Real estate is a dynamic, sociable and high-earning profession. It encompasses most areas of commercial (industrial, office and retail) and residential property.

The RICS accreditation will enable you to take the Professional Assessment of Competence after a period of suitable employment. When you enrol on this course, you’ll be entitled to register for RICS student membership and access training as part of the CPD Foundation. This, coupled with the relationships with other professional bodies and our alumni, gives you access to some excellent networking opportunities with city and suburban property firms.

On graduation, you'll find employment opportunities in the public, private and not-for-profit sectors. Previous students have undertaken roles in property development, valuation, law, finance and investment, as well as property management for major property firms, such as Cushman and Wakefield, Savills, Knight Frank, as well as other property development and consultancy companies within Greater London and surrounding areas. 

World
Develop your CQ

Develop your cultural intelligence – or ‘CQ’ – studying alongside students and staff representing more than 100 nationalities.

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Meet leading employers

Our Annual Property and Construction Careers Fair attracts leading employers, which in 2019 included CBRE, Mace, Barratt Developments, Savills, Carter Jonas and Grainger.

Connected figures
Develop your network

Our relationships with professional bodies and our alumni give you access to excellent networking opportunities.

Industry links

Our course was designed with input from a range of industry professionals and, to retain currency and relevance, we receive ongoing feedback from the School’s Employability Advisory Board. Current members include practitioner representatives from the multinational construction, property and infrastructure company Lendlease, commercial property experts Chase and Partners, and CABE.

We are proud of our excellent industry links with a host of property companies, large and small, together with key professional bodies, including RICS, CIOB and CABE. They enable us to host a highly successful Annual Property and Construction Careers Fair, which in 2019 attracted 40 employers, including:

  • CBRE
  • Mace, JLL
  • Barratt Developments
  • Bouygues UK
  • Savills
  • Carter Jonas
  • Grainger

Immensely popular with our students, the fair provides a unique opportunity for them to meet with leading employers in the property and construction sector, learn first-hand about their organisations, secure work experience or receive guidance from a panel of speakers on the graduate scheme application process for some of the larger employers.

Job roles

This course will prepare you for roles in major property companies and advisory practices including:

  • Property development
  • Valuation 
  • Commercial/residential agency 
  • Property consultancy
  • Property investment 
  • Investment/asset management 
  • Corporate real estate/facilities management

Graduate employers

Graduates from this course have found employment at organisations including:

  • Savills
  • Cushman and Wakefield
  • The British Land Company
  • Montagu Evans
  • Countryside Properties
  • Chase and Partners

Westminster Employability Award

Employers value graduates who have invested in their personal and professional development – and our Westminster Employability Award gives you the chance to formally document and demonstrate these activities and achievements.

The award is flexible and can be completed in your own time, comprising a set of core and optional extracurricular activities. 

Activities might include gaining experience through a part-time job or placement, signing up to a University-run scheme – such as mentoring or teaching in a school – or completing online exercises.

Westminster Employability Award

Teaching and assessment

Your learning experience is designed to provide both a highly practical and theoretical understanding of real estate, property and planning. By regularly drawing on real-world situations and getting you to undertake professional activities, such as valuations, you’ll receive excellent preparation, able to make an immediate impact, when you start work.

To assist the learning experience, we provide reading lists, lecture and seminar materials in advance via Blackboard, our virtual learning environment. Where possible, lectures are recorded using specialist software and similar tools so you can reference them at a later date.

How you’ll be taught

Through a variety of teaching methods – from traditional lectures and seminars to case study analysis, project work and workshops – you'll apply your study to real-world experience. This will develop your understanding of the links between the subjects and, equally importantly, your presentation, writing and team-working skills. 

We adopt a problem-based approach to learning, which often draws on real-life situations you would encounter in professional life. So, for example, when studying the 1925 Law of Property Act, you may consider a past compulsory purchase and determine which rights and responsibilities are involved, or you might hear directly from a solicitor who deals with related issues day-to-day. You won’t just learn about how to appraise a property appraisal, you may be given a laser tape measurer and tasked with measuring up a property.

You’ll have plenty of opportunities to gain valuable insight from current practitioners, which in the past has included guest lectures from RICS, Cushman & Wakefield, Savills, and Chase and Partners. Where possible, we also take you to visit and learn first-hand from various organisations and businesses.

Taught by staff with many years of experience in surveying, in property lending, corporate acquisition, property training and development consultancy for and on behalf of local authorities and housing associations, you’ll also study alongside a number of part-time students who are currently working in the industry and will often bring live scenarios they are tackling into the classroom.

How you’ll be assessed

Using a wide range of techniques, you can expect to be assessed on the learning outcomes of your course in core modules through coursework in the form of essays, reports, presentations, case studies as well as time-constrained in-class tests and exams.

We try to make assessments as practical and relevant as possible, incorporating the type of work required by future employers, for example, including valuation reports, technical reports and presentations. 

Why study this course?

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Accredited course

Our course is accredited by the Royal Institution of Chartered Surveyors and enables you to pursue a successful career in property.

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Combine theory and practice

The course links theory to global practice through real-life case studies, projects, field trips and insights from practitioners.

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Learn from experts

Experts will share their professional experiences of working in the property and construction industry.

Online open evenings

Find out more about the University by visiting us at one of our open evenings.

 

Visit our open days page

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Entry Requirements

A minimum of a lower second class honours degree (2:2). Relevant degree disciplines include geography, economics, a traditional science, a property-related discipline or law. Or membership of a recognised professional body whose entry requirements are equivalent to graduate level, and ideally some relevant practical experience.

If your first language is not English you should have an IELTS 6.0 with at least 5.5 in each element.

Applicants are required to submit one reference.

View more information about our entry requirements and the application process.

A minimum of a lower second class honours degree (2:2). Relevant degree disciplines include geography, economics, a traditional science, a property-related discipline or law. Or membership of a recognised professional body whose entry requirements are equivalent to graduate level, and ideally some relevant practical experience.

If your first language is not English you should have an IELTS 6.0 with at least 5.5 in each element.

Applicants are required to submit one reference.

More information

Student work

In 2020, students travelled to New York to study urban regeneration and real estate development in midtown Manhattan, where they visited some of the major development firms, including Brookfield Properties and Cushman and Wakefield, and a range of new developments, including Hudson Yards. They also met up with former students now working in America, for some of the large corporations, giving them unprecedented behind-the-scenes access to properties.

A map of Europe with pins

In 2018, a study visit to Hong Kong enabled students to compare Hong Kong and London core property market features. The trip included presentations by top Hong Kong Property development and investment consultancies including Savills, FTI Consulting, Jones Land LaSalle (JLL) and Swire Properties. Architects from leading practices, such as Aedas, Lead 8 and Studio QUAD, talked to them about some of their major projects in Hong Kong and mainland China, including West Kowloon railway station. In addition, local tours of some of the top residential and commercial landmarks gave the students a real insight into Hong Kong’s vibrant property markets. These included visits to the Gold Coast (largest residential development in Hong Kong by Sino Group), Swire’s Taikoo One place, Emperor Group’s headquarters and a double-decker (Ding-Ding) tram tour of the Hong Kong Island retail market led by K K Wong (retail consultant).

On their return to London, students had to create an extended field trip report with a comparative property market analysis between London and New York or Hong Kong as part of their Development Finance and Funding module. One student, who visited Hong Kong and New York, described the experience as “two unforgettable trips, absolutely worthwhile and extremely inspiring and motivating”. They gave “a different perspective on real estate development and better understanding of the role of property as part of a country’s economic development and growth”.

Learn new skills

Building blocks
Build key skills

Develop time management, dispute resolution, communication and ethical skills needed in property.

Figure with connections
Develop critical thinking skills

Learn to critically evaluate the strategies that managers use to help organisations adapt in an uncertain or complex environment.

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Improve your problem-solving skills

Improve your problem-solving skills to better understand and tackle people management issues.

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Fees and Funding

UK and EU tuition fee: £10,500 (Price per academic year)

When you have enrolled with us, your annual tuition fees will remain the same throughout your studies with us. We do not increase your tuition fees each year.

Find out how we set our tuition fees.

Alumni discount

This course is eligible for an alumni discount. Find out if you are eligible and how to apply by visiting our Alumni discounts page.

Funding

As well as tuition fee loans, there is a range of funding available to help you fund your studies.

Find out about postgraduate student funding options.

Scholarships

The University is dedicated to supporting ambitious and outstanding students and we offer a variety of scholarships to eligible postgraduate students, which cover all or part of your tuition fees.

Find out if you qualify for one of our scholarships.

Additional costs

To take part in the optional international study trip, you'll have to pay an additional fee of about £950.

See what you may need to pay for separately and what your tuition fees cover.

International tuition fee: £14,000 (Price per academic year)

When you have enrolled with us, your annual tuition fees will remain the same throughout your studies with us. We do not increase your tuition fees each year.

Find out how we set our tuition fees.

Alumni discount

This course is eligible for an alumni discount. Find out if you are eligible and how to apply by visiting our Alumni discounts page.

Funding

Find out about funding for international students.

Scholarships

The University is dedicated to supporting ambitious and outstanding students and we offer a variety of scholarships to eligible postgraduate students, which cover all or part of your tuition fees.

Find out if you qualify for one of our scholarships.

Additional costs

To take part in the optional international study trip, you'll have to pay an additional fee of about £950.

See what you may need to pay for separately and what your tuition fees cover.

Supporting you

Our Student Hub is where you’ll find out about the services and support we offer, helping you get the best out of your time with us.

  • Study support — workshops, 1-2-1 support and online resources to help improve your academic and research skills
  • Personal tutors — support you in fulfilling your academic and personal potential
  • Student advice team — provide specialist advice on a range of issues including funding, benefits and visas
  • Extra-curricular activities — volunteering opportunities, sports and fitness activities, student events and more

visit our student hub

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Course Location

Our Marylebone Campus has benefitted from a multi-million-pound refurbishment resulting in new workshops, digital studios and development of the Marylebone Library. The campus is home to Westminster Business School and our award-winning Architecture, Planning and Tourism courses. For more details, visit our Marylebone Campus page.

Westminster Business School

Westminster Business School is one of London’s leading centres for business education based in the heart of London and its political, media and financial services scene.

We are a Chartered Institute of Personnel Development (CIPD) Centre of Excellence, recognised by professional bodies including the Chartered Institute of Marketing (CIM), Chartered Management Institute (CMI) and APMG International. 

Contact us

We have an FAQs page if you are applying this year.

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