Property Case Studies

This subject has the following teaching availabilities in 2014:

120 hours

All four subjects are required before taking Property Case Studies

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

This is a final year Bachelor of Environments subject, undertaken in a seminar studio based environment. It consolidates students’ prior learning of property concepts and principles, property markets, property valuation, statutory planning, feasibility and investment evaluation and finance. Featuring real-world case studies of income producing commercial property investments and property development projects, it will nurture the student’s interest and understanding of complex technical and financial processes related to property. The case studies will demonstrate the requirement and skills associated with the management of a wide range of professions and entities necessary to develop and manage commercial property investments and developments.

Studio-based exercises will allow students, in groups, based on the sample projects presented, in the case of:
Income producing properties, to:

• Define and delineate project parameters;

• Understand the roles of the property valuer, and the property analyst / investor, and be able to delineate the differences in objectives, approach, methods and outcomes;

• Comprehend the role of property analysis, market research, financial feasibility, risk analysis and risk mitigation in analysing and assessing property investments;

• To evaluate property investment feasibilities;

Property development projects, to:

• Define and delineate project parameters;

• Develop a basis for understanding the translation of urban planning requirements into a commercial proposals;

• Understand the development of feasibility concepts and sketch plans within resource constraints;

• To evaluate property feasibilities that integrate time, cost, quality, introductory risk assessment, and property performance evaluation.

• Understand how a complete property development plan for a given site is created, planned and organized, which considers all aspects of the site planning, property markets, finances, marketing, and financial feasibility.

• Demonstrate an understanding of issues involved in commercial property development and property development processes. (market analysis for selecting property development proposals; stakeholders and their requirements; property development concepts and underlying considerations; the developer’s equation and residual analysis; alternative development options; cost estimating and planning; management of consultant teams and communication requirements; introductory knowledge of property development and investment analysis techniques; and preparation of a systematic property development proposal in a competitive market environment).

AND in general

• Understand the studio-based learning environment, working as groups, applying multifaceted skills through analysing real-world case studies.

1. Continuous Group Assessment e.g. written submissions / assignments (75%);
2. Individual Assessment: Individual Reflective Journal (10%);
3. Individual Assessment: Attendance and participation (10%);
4. Individual Assessment: Group diary (5%)

Breakdown

1. Continuous Group Assessment (75%) comprising:
   
   • Group Report Week 5: Site Analysis including Planning Analysis Report (20%);
   • Group Report Week 9: Market Analysis and Marketability Analysis Report (20%);
   • Group Report Week 12: Complete Feasibility Report including site analysis, planning analysis, market analysis, marketability analysis, residual land value calculation and static financial feasibility, and recommendations (35%).
2. Individual Assessment Task: completion of two (2no) individual reflective journals due Weeks 6 and 11, reflecting upon group project, team and individual performance (10%).
3. Individual Assessment Task: attendance at and participation in studios/tutorials /workshops (1 hour per week for weeks 1-12 inclusive). Examples of participation include individual and group analysis of property related matters as preparation of staged feasibility reports (10%).
4. Individual Assessment Task: completion of weekly team diaries (5%);

Completion of all pieces of assessment is a hurdle requirement. Note that minimum 80% attendance at studios/tutorials/workshops is also a hurdle requirement.

Subject Reader

This subject is not available as a breadth subject.

The following skills will be developed in this subject:

• Analytical skills.

• Problem solving skills.

• Drawing(s) reading skills.

• Research skills.

• Team relationship skills