CONS08019 2022 Real Estate Investment and Funding

The funding aspect of the module is primarily concerned with developing an understanding of funding techniques for property investment and development. It aims to further strengthen an understanding of the process to property investment and development. An important element of this module examines the risk and returns of lending and the impacts of gearing on investments. The student will develop knowledge of the different types of investors and investment vehicles utilised in Real Estate Investment.

The fully revised and updated third edition of this textbook provides a comprehensive guide to the property development process, taking readers from initial project evaluation to planning, funding, construction and disposal. The last ten years have seen regional planning apparatus swept away and replaced by new neighbourhood plans and more prominence is now given to financial viability in planning policy and decision making. The uncertainty of the financial crisis and the associated housing crash have given way to a new wave of commercial and housing development, and in this period of growth it is more important than ever to be aware of the risks and opportunities inherent in the property market. This book is an ideal companion for students on courses in estate management, land economics, property development, real estate, surveying, construction, planning and related subjects. The book will also have value for practitioners in any of these fields who as part of their CPD obligations may be looking to refresh and update their knowledge.

Essential for any real estate professional or student performing feasibility studies for property development using Microsoft Excel and two of the most commonly used proprietary software systems, Argus Developer and Estate Master DF. This is the first book to not only review the place of financial feasibility studies in the property development process, but to examine both the theory and mechanics of feasibility studies through the construction of user friendly examples using these software systems. The development process has seen considerable changes in practice in recent years as developers and advisors have adopted modern spread sheets and software models to carry out feasibility studies and appraisals. This has greatly extended their ability to model more complex developments and more sophisticated funding arrangements, saving time and improving accuracy. Tim Havard brings over 25 years of industry and software experience to guide students and practitioners through the theory of development appraisals and feasibility studies before providing internationally applicable worked examples and potential pitfalls using Excel, Argus Developer and Estates Master DF.

This guide to the key legal, tax and valuation aspects of lending on commercial property, written by a solicitor and chartered surveyor, is tailored to the needs of practitioners dealing with the financing of commercial property transactions. Covering disciplines such as commercial property law, taxation, mortgages and security documentation, insolvency and valuation, it includes: strong valuation coverage - taking account of recommendations by the Royal Institute of Chartered Surveyors for changes to valuation techniques and recent court of Appeal decisions, checklists and bullet points for easy reference and quick advice, practical hints based on experience in practice, specimen clauses for interalia, security documentation, debentures and guarantees.

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