Students should choose an Architecture student whose design they wish to analyse. You will need to negotiate with the Architecture student so that you have access to their design details. in particular you will need the following information:
A floor plan for each floor of the building which clearly indicates:
- the total floor area
- program
- net lettable area
An indication of any unusual design features, especially if these are likely to add to the construction cost of the building over and above typical costs as set out in Rawlinsons cost data handbook.
Examples of unusual design features might be very deep foundations, extensive use of cantilevered construction, special roof or facade treatments such as green walls, roof top swimming pools etc.
Using Devfeas, you should prepare an analysis of the design which clearly demonstrates the:
- Development profit
- Netpresentvalue
- Internal rate of return
along with any other summary statistics that you consider useful.
If the initial analysis indicates that the design does not deliver an acceptable return to the developer, you should use sensitivity analysis to determine what changes could be made to improve the return to an acceptable level. Youshouldwriteabriefreport(500wordsmaximum)thathighlightsthestrengthsandweaknessesofthedesign.If the original analysis indicates that the design does produce a viable return then you should perform a sensitivity analysis in relation to financial interest rates, development period and predicted income from the scheme to determine the vulnerability of the design. In respect of the latter point you might consider the impact on profitability of a 10% fall in sale price of apartments or a 10% cut in room rates for a hotel development.
You should clearly state at the start of your report whether you consider the design produces a viable return and why you have reached this conclusion.
You should submit your completed Devfeas file and the accompanying report in word/pdf format on line.
Please Note: You must also attach the comparable sales that you used to determine the market value of the various types of properties e.g. residential, office, retail, etc.
If you cannot find enough comparable sales, you need to clearly identify where you sourced your market data from i.e. which real estate report(s), property professional(s), etc.
In addition to this information, you need to detail how you arrived at your market values for each type of property. Inotherwords,howandwhydidyouadjustthecomparablesalesdatatodeterminethemarketvaluesofthevarioustypesofpropertiesatthesubjectsite.
The words that you write for this section on comparable sales are not included as part of the 500 word report which is based on the design of the development.
