Module title: Investment Appraisal

SCQF level: 09:
SCQF credit value: 20.00
ECTS credit value: 10

Module code: BSV09112
Module leader: Alison Andrews
School School of Engineering and the Built Environment
Subject area group: Building and Surveying

2018/9, Trimester 2, Face-to-Face, Edinburgh Napier University
Occurrence: 001
Primary mode of delivery: Face-to-Face
Location of delivery: MERCHISTON
Partner: Edinburgh Napier University
Member of staff responsible for delivering module: Alison Andrews
Module Organiser:

Learning, Teaching and Assessment (LTA) Approach:
Students will be encouraged to develop a critical understanding of property as an asset class within a multi asset spectrum of investment opportunities and the nature of the investors in property. The returns available from property investments will be examined and the methodology for assessing these returns. They will undertake evaluate and understand the limitations and shortcomings of conventional valuation models of both freehold and leasehold property. The contemporary growth explicit models will be evaluated and the students will obtain a comprehensive knowledge of the methods available including long and short form discounted cash flow. Current professional reports will be made use of to evaluate the returns available on the various investment asset classes. The tutorials will be used to expand upon the lecture material and to undertake valuations using the appropriate methods.

Embedding of employability/ PDP/ scholarship skills
The module shall assess the standards of communication, creativity and problem solving skills needed to answer such questions posed by investment appraisal and evaluation and required by the students to demonstrate such competency.

Research/ teaching linkages
Close links are maintained with the Royal Institution of Chartered Surveyors and industry. This includes reference to research papers and guest lecturing from practitioners.

Formative Assessment:
The provision of formative feedback is a key component of the LTA approach underpinning this module. Formative feedback opportunities are built into each practical session where you will be encouraged to engage with and reflect upon module themes via a series of different learning tasks. These provide opportunities for the module tutor to help with your understanding and interpretation of module topics. This formative feedback is delivered in class time in response to student contributions both individually and collectively. Formative feedback arises via the discussion and analysis of tutorial questions, practical examples/cases and associated reflection on a range of learning tasks. The coursework assessment is supported by 1:1 sessions for formative feedback on the coursework plan and the exam assessment is supported in the tutorial classes.

Summative Assessment:
The coursework assessment is designed to evaluate the student's understanding of investment returns and conventional and contemporary appraisal techniques. (LOs 1,5,6).
The timetabled exam will assess all learning outcomes (LOs 1-6)

Student Activity (Notional Equivalent Study Hours (NESH))
Mode of activityLearning & Teaching ActivityNESH (Study Hours)
Face To Face Lecture 22
Face To Face Tutorial 22
Independent Learning Guided independent study 156
Total Study Hours200
Expected Total Study Hours for Module200

Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Report 30 1,5,6, 9 HOURS= 0, WORDS= 2000
Centrally Time Tabled Examination 70 1-6 14/15 HOURS= 3, WORDS= 0
Component 1 subtotal: 30
Component 2 subtotal: 70
Module subtotal: 100

Description of module content:

Investment principles; property investment.
Technical analysis of investment returns; empirical analysis of investment returns.
Conventional models of property valuation, critiques of conventional models.
Contemporary models; freehold and leasehold valuations using contemporary models.

Learning Outcomes for module:

On completion of this module you will be able to:
LO1: comprehend and evaluate a broad range of investment principles;
LO2: apply a critical understanding to the qualities of property as an investment;
LO3: apply investment techniques to analyse the return from property;
LO4. apply specialist knowledge of returns from the investment of capital in the property market;
LO5. critically evaluate conventional property valuation principles;
LO6. comprehend, evaluate and apply contemporary (growth explicit) models of property valuation.

Indicative References and Reading List - URL:
Investment Appraisal