Description

Contents

We review all our courses regularly to keep them up-to-date on issues of both theory and practice. Therefore, there may be some change to the detailed content of the modules and occasionally to module titles.

To satisfy the requirements of the degree programme students must complete:

• Eight core courses
• Three electives
• Business Research Project

Two Induction Weeks The MSc Real Estate starts with two compulsory induction weeks, focused on:

• an introduction to careers in real estate and the opportunity to speak to representatives from over 75 companies during a number of different industry specific fairs.
• a refresher course of basic financial mathematics, statistics, computing and electronic databases

Four core modules (30 hours each)

Property Valuation

This module will provide students with an overview of current valuation techniques commonly used and the legal background to both the valuation process and to the real estate markets generally. Classes discuss current UK and international valuation methodologies, examining both the similarities and differences in approaches. The module also covers legal issues in the valuation process.

Real Estate Economics

This module introduces students to the principles of economics, and the primary ways in which those principles are useful in the analysis of real estate performance and real estate markets. Particular attention will be paid to the impacts of changes in the economy on rental values, development activity, real estate returns and its returns relative to other assets.

Real Estate Asset Management

This module provides comprehensive coverage of the management of real estate as an asset. While the module will examine many aspects of asset management from a portfolio perspective it will also examine other issues. The module will look at the asset management of properties and how investors can add value. It will also examine real estate's role from the perspective of a corporate occupier.

Quantitative Techniques in Investment

This module introduces investment mathematics and statistical techniques. The module seeks to introduce techniques and concepts within the context of investment and portfolio research. The techniques learnt in this module will be applied and expanded on in other modules.

Real Estate Investment & Financial Analysis

This module introduces students to the primary issues in the evaluation of real estate investments. The course considers the primary valuation techniques, the financial modelling of investment appraisal of properties and also provides an introduction into the importance of financing structure. Students will examine alternative sources of capital and the impact on investment appraisals and performance.

Plus any three of the following modules:*

Real Estate Finance

This module enables students to develop an appreciation of the various techniques available in commercial real estate finance, to identify the different sources, both of debt and equity finance and to examine how risk and reward can be shared.

International Real Estate

This course is concerned with the considerations real estate investors and developers need to examine when looking at investing in international markets. The module covers the differing risk factors involved in global investment, such as market maturity, transparency, country risk and political risk. The module will also consider differences in valuation methods and market structure.

Landlord and Tenant Law

Provides a sound knowledge of legislation and case law affecting the commercial property market in order to enable students to apply the legislation when undertaking valuations and appraisals of such premises.

Real Estate Development & Planning

The aim of this module is to examine the various techniques used to analyse real estate developments. Students will examine real estate through the development and redevelopment process, the principals of development market analysis and appraisal, the importance of financing on the development process and the legal structures in place due to planning/zoning legislation.

Statutory Valuations

Examines the statutory aspects of appraisal. Rating law and procedures, and taxation, particularly capital gains and value added tax, are also studied in depth.

*Modules must have a minimum of 15 students to run

Three electives and a Business Research Project

Electives

You may choose from a wide variety of electives. For example:

• Building, Project Management & Procurement
• European Real Estate Markets
• Financial Regulation
• Real Estate Investment Law
• Real Estate Portfolio & Fund Management
• Residential Investment
• Securitisation & Structuring of Vehicles
• Work Space Planning

Requirements

Every year we welcome students from around 100 different nations to study with us here at Cass. It is essential that all students have an excellent command of English in order to participate fully in the collaborative learning process. We therefore require all students who have not previously studied in English to sit an IELTS or TOEFL exam. If you are not a native English speaker but have studied or are studying in English at degree level, please submit a copy of your most recent English language test along with your application.

IELTS

The required IELTS level is an average of 7.0 with a minimum of 6.5 in writing.

TOEFL

For TOEFL we require 107 (Internet Based Test)
Our TOEFL code is 7650, department code 02
We do not offer a pre-sessional English class as an alternative to achieving these scores. Any pre-sessional course should be viewed as a way of settling into living and studying in the UK and not as a way of topping up an IELTS or TOEFL score.

Other qualifications

To be accepted for these courses you will need a good Bachelors degree, usually a UK 2.1 or above or the equivalent from an overseas institution. Some level of previous study in finance or quantitative techniques is preferred for applications to the MSc in Real Estate Investment.

Applicants will need to submit two references, one of which MUST be an academic reference. No work experience is required, but please provide details of relevant experience that might enhance your profile.

English Language Requirements

Funding

We appreciate that a Masters degree is a significant investment. Applicants should therefore consider the financial commitment involved, and ensure that their personal finances for the year are fully thought through.

Each year, the Business School makes funds available for scholarships to outstanding students on each of the full time Specialist Masters courses. These include:

• Stelios Scholarships
• Santander scholarship
• The Sareen Foundation Scholarships
• September 11th Insurance Trust Scholarship
• The Michael M Xylas MSc Scholarship
• Pettman Scholarship
• Cullum/Towergate Scholarships
• The Dean's Scholarship, provided by The Curtain Foundation
• Fondazione Pietro Barbaro Scholarship
• The Hong Kong Alumni Bursary
• Chinese Alumni Bursary
• The Escola Nacional de Seguros Scholarship Awards
• The Singapore Alumni Bursary
• USA Alumni Bursary
• Cass Class Gift
• The Iain Allan Scholarship

Applications for scholarships are considered on a competitive basis. All applications must be received by 7 May 2012, we endeavour to make decisions regarding scholarships as early as possible but some decisions may be held over to July or August each year.

What to do next

To qualify for a scholarship you must have a first class degree or equivalent, be in need of financial assistance, and be in receipt of an offer of a place on a full time Masters course at Cass.

We do not accept scholarship applications from students who have not yet been made an offer of a place at Cass.

Cass Business School Bursaries

Every year dozens of students on our Programme are awarded this bursary in recognition of their previous excellent academic achievements.

This award is open to all applicants on full-time courses on the MSc Programme.

There is no need to apply for the bursary as it is awarded by the Admissions Panel and the candidates are shortlisted from the overall pool of successful applicants. The decisions are made on a merit basis and are usually published in August. If you are awarded this bursary, you will be notified in writing by your Admissions Officer.

The awards usually do not exceed 20% of the tuition fees and take the form of a discount deducted from the second instalment of the tuition fees in January.

Please be informed that it is School policy that only one scholarship/bursary award can be offered to each applicant. Should you be awarded any other scholarship or be funded by an outside source (with the exception of the Chevening Scholarship) you would have to make a choice of which award you would like to accept.

City University alumni discount

Separate to these scholarship schemes all Bachelors graduates of City University holding a 1st class honours degree are entitled to a 10% discount on the fees of a Cass MSc.

Other funding opportunities

• Career Development Loans
• Chevening Scholarship
• Spencer Educational Foundation Inc. (MSc in Insurance & Risk Management)
• Entente Cordiale Scholarships (French Students)
• Schools Competition Act Settlement Trust (Students from specific independent schools)
• Mansion House Scholarship (Overseas students)