This module is designed to develop an understanding of how firms manage their property assets and align this with their overall strategy. In some industries, notably retail and hospitality, the process of the maintenance, improvement and management of property is an essential part of a firm’s activity. The module provides an overview of the process, looking specifically at facilities that have a life-span, where physical aspects need to be regularly regenerated. The module will also provide an overall appreciation of the need for creating and sustaining value over time, focusing especially on the role of asset management.  The concept of business continuity planning is also considered.

The aim of the module is to introduce students to some of the key property–related issues when managing existing operations. The module will be approached from the viewpoint of the manager, who needs to manage this complex activity with the aid of specialists both inside and outside his or her organisation.

        Property Markets and the corporate requirement 
Property valuation 
Property investment (inc. real estate investment trusts) 
Property Performance :Evaluation and projection 
Property User requirements 
Strategies for Property Management 
Maintenance and facilities management 
Renovation & expansion programmes 
Business continuity planning 

 The teaching and learning strategy is based on five weeks of two hour lectures (whole group) to establish the principles, followed by four weeks of two seminars (divided into hotel or retail groups) to demonstrate the application of principles in the specific industry context.

The teaching and learning methods include guest speakers and case studies would be used to demonstrate how the key principles apply in practice.  Students will be encouraged to discuss how the concepts apply to property in their geographical location, in order to highlight differences in culture and perceptions.

Expected Purchase 

Edwards, V. and Ellison, L. (2004) Corporate Property Management: Aligning Real estate with Business Strategy, Blackwell: Oxford  

Recommended 

Beals, P. and Denton , G. (200?) Hotel Asset Management: Principles and Practice, American Hotel and Lodging Educational Institute: Lansing 

Raleigh, L. and Roginsky, R. (2006) Hotel Investments: Issues and Perspectives, American Hotel and Lodging Educational Institute: Lansing  

Ransley, J. and Ingram, H. (2004) Developing Hospitality Properties and Facilities, Butterworth-Heinemann: Oxford .  

Stipanuk, D.M. (2002) Hospitality Facilities Management and Design, 2^nd ed. Educational Institute of the American Hotel and Lodging Association: Lansing .  

Other Indicative Reading  

Deakin M.,( 2002) The Transition to Property Management, Estate Gazette Books, London .  

Deakin M., (2004) Property Management, Ashgate Publishing Limited, London  

Seabrooke W., P. & How H. ( 2004) International Real Estate An Institutional Approach, Blackwell Oxford  

Scarrett D. (1995) , Property Asset Management , E & F Spon, London