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The Property capstone is undertaken in a studio environment where the knowledge gained in prior property subjects is consolidated into a real-world project. Topics covered include business planning, site analysis, statutory planning analysis, markets and marketability, construction, financial feasibility, sensitivity and risk analyses, development funding, and property valuation. Broader urban planning concepts and sustainability in development are also covered.
Students in the Property capstone work in small groups where they are required to source and analyse potential property development sites, carry out high level feasibilities, choose an optimal business case, and develop multiple design / development options for a site. Detailed site, market and marketability analyses are also carried out, and statutory planning, financial feasibility and risk analysis are used to determine whether a project should proceed beyond feasibility stage.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Demonstrate their understanding of the design process and the role that property experts play in leadership and management of transdisciplinary project design and development;
- Demonstrate their emerging analytical, creative, flexible and multi-disciplined approach to the development of business cases for the design conceptualisation and feasibility of development opportunities;
- Demonstrate their understanding for the need to develop a strategic business plan that will determine an entity’s course of action;
- Demonstrate their capacity to source significant potential development opportunities, to undertake development l feasibility analysis.
- Prepare a detailed feasibility report for board of directors that substantiates and supports recommendations;
- Orally present as a team at critical stages to communicate progress and decision making to board of directors;
- Develop greater understanding of the studio-based learning environment, working in groups, applying multi-faceted skills through analysing real world case studies, interacting with stakeholders including planning authorities, construction managers, general public and communicating outcomes and results in a business environment.
Upon successful completion of this subject the student will have had the opportunity to develop the following generic skills:
- Analytical skills
- Communication skills
- Problem solving skills
- work collaboratively and productively in groups and across disciplines;
- apply critical and analytical skills and methods to the identification, evaluation and resolution of problems;
- engage confidently in self-directed study and research;
- communicate ideas effectively in written, graphic and oral formats;
- operate effectively in multicultural and diverse environments;
- use appropriate technologies;
- critically evaluate new ideas, research findings, methodologies and theoretical frameworks in their discipline; and
- recognise and understand the ethical responsibilities of individuals and organisations in society.
Last updated: 8 August 2023