Assignments

Coursework One Brief

You should locate a site outside Greater London (outside any of the London Boroughs). The site should be in the order of 0.25-1 acres in size. It may be a greenfield or brownfield site, but it should have clear prospects for development. The site should be located in England. It should be a different site to any previously used/studied at work for example. (The site size is a guide, you should be looking at something capable of taking more than one house if residential, if the site is much larger than 1 acre then you may wish to choose an alternative or look to develop only part of the site).

Your coursework should be split into two clear sections, section A and section B, these will be marked separately with each being worth 50% of the coursework mark.

Section A

You should prepare a property and planning report explaining the planning history of the site and why you consider it suitable for development. This should be referenced to Planning Policy both local and national and a good answer will incorporate Inspectorate Appeal decisions as necessary. If the site has an express planning consent you should critically consider whether this consent can be ‘improved’; again by reference to Planning Policy, Guidance and Appeal decisions.

Section B

Consider what the most applicable (single use – i.e you can assume just one – most suitable use, for the site). For the most applicable use on the site prepare with reference to market comparables and other data sources an outline residual valuation to arrive at a figure you would be prepared to recommend be paid for the site. Support and annotate your valuation. You should clearly reason why the use you have chosen is the most suitable. You should reference and support construction costs and other inputs to the residual valuation.

Important Notes

You should not decide to construct a single house on your chosen site.

The work should reference the law applicable to England and Wales.

Hand in date 1p.m 12th November 2020.

Please submit via turnitin. Please note that you can only upload one file to turnitin as your coursework, therefore place all the material in one document and submit this.

A better piece of work will provide some site detail and understanding of site surrounds and context. If a visit to the area of the site is not possible (you should adhere to any and all Covid 19 related Regulations in force at the time in the area in question, or that apply to you) then research the area as much as possible from a range of different sources. You can research the site and the surrounding area using a range of online sources and Edina digimap etc,.

Coursework Two Brief

You will be given a site. You are required to undertake an investigation of suitable uses of that site. You should consider all (main) uses that you think may give the highest residual site value. Take what your group considers to be the two most ‘profitable’ uses and analyse these in depth in respect of the site in question. As a group you should illustrate which of the two schemes is to be developed and why. You may make assumptions about developer preference and risk as appropriate but clearly state any that are made.

You should assume that it is possible to construct circa 5 storeys on the site in question. The ground floor maybe assumed to be used for a retail use if you desire/think that this adds value. The remaining use of the development proposed should essentially be a single use (and it is these single uses that you should compare/analyse). You should provide market justification for your choice of uses.

For the uses considered you should analyse likely occupiers and market information. This should be clearly provided as part of your work. Think and name who might actually locate to your site and why.

You should provide some marketing particulars/information relating to both of your two shortlisted options (as if each scheme were to go ahead) – with appropriate caveats and small print.

You must provide full residual valuations to show the assumed land value for both of your shortlisted uses. You should use realistic inputs. These should be fully annotated and supported.

You can state what you believe the site area to be as an assumption and work with this in your work. The site comment/description/plan given out is for general identification purposes only. You should not consider planning policy – you can assume that consent would be forthcoming (for any reasonable ‘mainstream use’). You need not and should not try to enter any existing building or structure on the site. You will see below that what you are to assume exists on the site is different to what actually is there. You need not worry about rights to light or similar or particular issues concerning neighbouring buildings, gates, fences etc., – you can make suitable assumptions if necessary. You should also recognise that in reality the sites actually given would or might be difficult to develop. Do not be offended if you think a park etc., is to be lost to your scheme – it is in reality not going to be so. Some of the sites may be effectively part of a building that already exists – you are to ignore the building that already exits and assume that what does exits is per the assumption below. The neighbouring buildings should be assumed to be as they are in the real world.

The assumption to be made: You should assume that instead of what actually exists on the site at present, two small 1940’s office buildings stand. They can both be assumed to be owned by the site owner. One is let on a 25 year FRI lease inside the security of tenure provisions of the Landlord and Tenant Act 1954. It was let in 1998. The rent presently being paid is £105,000 p.a. and the rateable value is £99,500. The second building was let on a ten year FRI lease in 2012, again inside the Act, the tenant has recently vacated. In 2016 the tenant improved the property by installing air-conditioning at a cost of £75,000. The addition to value can be ascertained from local comparables to be £25,000p.a., the rateable value of this building is £155,000.

You should state by reference to Statute and case law how and when you will obtain possession of these buildings in order to enable development to commence. What if any compensation will be payable to either tenant and why? Illustrate and explain the applicable legal framework.

The work should reference the law applicable to England and Wales.

You should make what other additional assumptions you feel are necessary.

You should note that as in a real world situation you have been given some material, of this some of the material given may not be required.

A Group report answering the points as above should be capable of being presented and/or submitted to a panel on the 3 December 2020, clearly listing the members of each group (and those that participated). More detail on this will be provided to Groups closer to the date.

Then:

You are importantly also required to submit an individual piece of work. It is this that is actually assessed. (The group element beforehand builds knowledge and understanding and provides scope for reflection and reconsideration).

The individual piece of work should be in the order of 2500/3000 words (plus appendices, comparables, marketing particulars etc) and should provide a critique of your groups’ work; it should include comment on what you would do differently and why. You should explain your involvement in the group process, what did you do and how did you do it?

Importantly you should take the second development option that was not followed up earlier and see if you can ‘make it more viable’ than the one chosen by the group. This should be achieved independently as an individual piece of work. This should include a full revised residual valuation with supporting information and analysis. You can reference and support changes that you have made since the group work – these should be clearly stated and supported. If you can ‘make it more viable’ you should say how this has been achieved – if you cannot again you should be clear as to why not. The individual element will enable a wide variation in marks to be awarded within groups. If it is clear from the individual work that no material input has been made to the group work then the student may get a mark at significant variance from those of the others. Your individual work should also include appropriate residual valuation(s), annotated and supported.

Your individual work should also revisit the marketing particulars for the financially most advantageous scheme. These should be re-worked and presented as part of the individual work. Using your ‘own design’ remember to include caveats and ‘small print’ as appropriate.

You should also be clear, within your individual work, as to how possession of the existing property will be obtained and when development of your scheme will commence. You should also clearly state what if any compensation might be payable to either existing tenant.

The Individual component is to be submitted by 1 p.m on the 4 January 2021. This should be submitted via Turnitin you should state which group you are in within this work. Please remember to put all the required items together in one document for submission. Turnitin only allows the one submission.

Eligibility of students for an ‘alternative assessment’

No alternative assignment is offered for this module.

There are no alternative assessments. Refer/defer assessments will be set as appropriate.

Assessment criteria

Coursework One

Quality and use of written English. Presentation and layout – make it look professional. 10 x 2 (part A and part B).	20%
Choice of site and reasoning for the use. 15 (7.5 part A and 7.5 part B).	15%
Planning background and report. To include Policy reasoning. Relevant Appeal decisions etc., (All part A)	25%
Outline residual valuation, accuracy, approach, comment and supporting information. (All part B)	25%
References. 15 (7.5 part A and 7.5 part B).	15%.

Coursework Two

Quality and use of written English.	10%
Presentation and layout – make it look professional.	10%
Thoughts for the site and reasoning for the use(s).	10%
Occupiers and market awareness.	10%
Marketing particulars and detail, targeting, accuracy, relevance, English, presentation.	15%
Outline residual valuation, accuracy, approach, comment and supporting information. To include comparables and their analysis and use.	20%
Accuracy of legal work and knowledge of Landlord and Tenant Acts.	15%
All of the above both in respect of the group work and the individual work and References.	10%.