Assessment title: Commercial Report
Assessment weighting: 50%
Semesters 1 & 2, 2023/2024
Assessment Brief 2
The Assessment
Select a shopping centre that is for sale, or you have some knowledge of through online sources. Please look to the case studies that we discuss in class and complete your independent research to find suitable options
You should emphasise the missed opportunities that you can take advantage of to add value. Identifying a shopping centre that has the potential for you to show your vision and entrepreneurial flair is crucial.
You will see problems that can be solved and must report on these, but the emphasis in this coursework is to recognise those extra things that can be undertaken. In some cases, previous students and apprentices have made radical changes to their portfolio, yet for others, minimal changes have given excellent returns, for example, on high value, well-managed investments.
Practical tips:
It is recommended that you select your shopping centre early, rather than waiting until later in Semester 2, so that you can discuss emerging issues with your peers and your Module Leader/teaching team. You will also find that the teaching content may influence your approach to the coursework.
You will find that the EG Radius, or CoStar database will be helpful to you in this assessment (available via the University LLR database search engine). You should establish your login details early on in the module.
There must be a section considering the most important terms of the leases for the properties in the portfolio, or the main standard lease terms you would expect if you do not have access to the actual terms. If you are putting in place new leases, you should also propose a brief head of terms.
You should also review your feedback from coursework 1 which may be useful to you in this assessment. While the properties are different between coursework 1 and 2, the strategies, decision-making, and nature of advice giving may be similar in places.
Once you have selected and identified your portfolio, look back over your decision route. You will see that you had several clear strategies and a choice of tactics on how to achieve each one. Therefore, you must also include your strategy and tactics within your submission. If you changed your strategy and/or tactics, then please also state how and why.
Please note that there is a formative feedback deadline for your Short Form report template of 8th April 2024. Further guidance on this will be provided on Blackboard and during class sessions
Assessment criteria
The assessment criteria and weightings show you what is important in the assessment and how marks are shared across each criterion. When you are completing your assessment, remember you need to fulfil the brief and the assessment criteria below. At the end of this document, we have provided you with a more detailed marking grid, often called the ‘rubric’ which describes both the expectation for each criterion and how marks would be awarded based upon performance.
Commercial Report (4,000 words): this allows students and learners to establish strategic decision-making to add value across a shopping centre scheme. Again, they will apply the theory learned especially in corporate management, along with the application of the law and case law, to advise on opportunities and constraints and make recommendations for how to successfully manage and maximise the value of the shopping centre. This assessment draws on LO5 (characteristics of commercial), LO6 (strategic decision-making and value-add), LO7 (innovative ideas and sound management), and LO8 (law and case law for commercial)
Assessment Criteria
Criterion | Weighting |
1. Accurately describe and apply the key characteristics of a shopping centre as an investment. Prepare a comprehensive tenancy schedule. Support Note: This should include identification of the locational area and portfolio size incorporating maps, photos, links and anything else relevant to support your portfolio. You must include the type of properties, tenants, tenure types, rental details and anything else deemed relevant for your Tenancy Schedule including Unexpired Lease Terms. Remember to include your key citations. |
20% |
2. Outline the key stakeholders in the shopping centre. Discuss day-to-day management of relationships and communication within the team. Include references to disputes and conflicts. Support Note: You need to consider the overriding interests of the landlord, tenants, and management team including property and asset managers, as well as rent review surveyors and letting agents. There will be the opportunity to meet with the management team of Westfields, Stratford in week 6, so please have your questions ready. |
20% |
3. Demonstrate a clear understanding of statute, relevant case law, and regulations (RICS, health and safety etc) that impact commercial property management decision-making. Support Note: Apply the case and statute law where appropriate. You should draw upon the relevant techniques and practices relating to property management, focusing on the relationship between the owner, occupiers and the managing agents (incorporate all the relevant law). Remember to include your key citations |
20 |
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4. Use strategic property management practices to add value through asset management initiatives and innovative ideas. Support Note: Accurately describe and explain how your commercial portfolio is managed. Property issues should be identified including defects, and management arrangements and repairs and solutions should be indicated. You should also make suggestions for value-added ideas and strategies. Remember to include your key citations. |
20% |
5. Provide a clear conclusion and recommendations throughout, together with the use of the `Cite Them Right Harvard` referencing system Support Note: Please visit the website and ensure that you are familiar with how to use the method of the ‘Cite Them Right Harvard` referencing system. 6. | 20% |
Total | 100% |
Do NOT include your name or student number within the file name or anywhere within your submission. The submission will be subject to anonymous marking. Having logged into blackboard the system will record your details anonymously and tutors will only see your name after the entire submission has been assessed and provisional marks have been released to all students at the same time
Referencing requirements for the assessment
Statements, assertions and ideas made in coursework should be supported by citing relevant sources. Sources cited in the text should be listed at the end of the assignment in a reference list. Any material that you read but do not cite in the report should go into a separate bibliography. Unless explicitly stated otherwise by the module teaching team, all referencing should be in Cite Them Right Harvard format. Select a shopping centre that is for sale, or you have some knowledge of through online sources. Please look to the case studies that we discuss in class and complete your independent research to find suitable options. If you are not sure about this, the library provides guidance (available via the library website pages).
If you are unsure about the above information, you should seek academic support from your module leader, personal tutor or your course leader. You will find details of your module leader in this module’s handbook and you can find the name of your course leader and personal tutor from your “My Student Records” page via the University’s student portal.
ACADEMIC SUPPORT & FEEDBACK ARRANGEMENTS
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| Very good management strategy and practices, including details on the key RICS resources and some other relevant authorities. Creative ideas are mostly forthcoming that add value to the portfolio. A varied assessment of remedies and solutions have been provided. | Competent management strategy and professional practices, including details on key RICS resources and other relevant authorities. Creative ideas are forthcoming and add real value to the portfolio. A thorough assessment and range of remedies and solutions have been provided. | Brillian manag strateg profes practic includi on key resour other r author Profes innova are for that ad to the thorou assess range and re have b provide |
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Demonstrate a clear understanding of statute, relevant case law and regulations (RICS, health and safety etc.) that affects commercial property management decision making (20%) | You have failed to demonstrate a clear understanding of statute, relevant case law and regulation that affects commercial property management decision making.
Please ensure you have read the assessment brief in the future. The university provides a number of skills workshops if you would like further support, and please do speak to your module leader or tutor for further feedback. | You have marginally failed to demonstrate a clear understanding of statute, case law and regulation that affects commercial property management decision making.
Please ensure you have read the assessment brief in the future. The university provides a number of skills workshops if you would like further support, and please do speak to your module leader or tutor for further feedback. | A sufficient application of the statute, relevant case law and regulation, although much of the technical details are missing. Further independent research needs to be completed. Decision making needs to be much clearer and supported by the relevant evidence and authority. | A good application of the statute, relevant case law and regulation including some of the technical details. Further independent research needs to be completed. Decision making needs to be clearer and supported by the relevant evidence and authority. | A very good application of the statute, relevant case law and regulation including many technical details and evidence of further research. Decision making is clear and supported by the relevant evidence and authority. |
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