Property Asset Management

Module: Property Asset Management ? Assignment

Wates house a building on the University of Surrey site is considered by the University to be surplus to their requirements as a catering outlet

Your organisation has been brought in consider alternative uses of the building. You are required to evaluate the property characteristics for conversion to some leisure activities and/or some retail outlets. Your report should not only cover the physical characteristics but consider all the potential property users characteristics from the perspective of all the potential stakeholders.

There is also interest from a local development company that is interested in acquiring the 5000 sq. metre plot. They intend to build some offices and apartments and houses for sale. The new offices will provide about 3000 m2 (gross) of floor space. Rental income is expected to average approximately ?300 m2 net and show an initial yield of 8%.

The remainder of the site is expected to accommodate 6, 2 bed houses and a small block of ‘loft’ starter flats, which should be on the market at ?150,000 and ?100,000 respectively.

The development will take some 18 months to complete. Finance is available at the market rate.

If the developers could expect a 25% profit. Advise the University on the value of the land to the developer. Assume planning permission would be obtainable.

In a group of no more than 3 you are required to produce a detailed fifteen minute Power Point presentation and accompanying report of 2000 words.

Learning Outcomes: On successful completion of this assessment, the student will:

Recognize the stages in the generic and cyclical process of managing property.
Formulate a property strategy complementing user requirements with property performance using alternative approaches
Examine the key issues at each stage, and identify possible solutions
Consider the process from the viewpoints of specialists and manage their input more effectively
Understand how property values can be enhanced by way of active asset management
Understand the need for business continuity planning

Marking Scheme:

Basis of Assessment
Markers are required to put comments in all the sections Weighting
% Mark
Presentation ,report writing and style
Marker?s comment/s

Research, reading and application in context.
Marker?s comment/s
Evaluation of Wates House
Marker?s comment/s

Residual analysis, Calculations and insight
Marker?s comment/s
Marker?s comment/s

Mark Total

General Comments: (Markers are required to complete this section)

Basis of Assessment

? Presentation report writing & style 20%

The presentation needs to be professional and reflect the detail of the report a good standard of English is required and should be considered central to winning over the University property board to accept your proposal
The marker is looking for a well-structured, concise report, which is accompanied by relevant tables and/or figures to aid the student?s explanation or argument. A good standard of English is essential. Correct Harvard referencing is required.
Note that the word limit does not include references or contents page, or numerical calculations.
? Research 10%

There should be good evidence of appropriate research to support any recommendations or calculations made.

? Evaluation of Wates House 40%

Students must demonstrate their ability to analyse the site appropriately using some standard methods and show evidence of a comprehensive site survey. There will need to be supporting evidence for any proposal and accurate estimations of space use, revenue calculations and footfall for the new scheme.
? Residual Calculation 20%
The detail\ of the residual calculation made must be shown and all assumptions outlined clearly. Critically the fiscal case for the building must be show in respect of competent use of market evidence.
? Conclusions 10%
Students should demonstrate their ability to make judgements on the presented evidence and show an understanding of the business in question.

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