REMIRAS-Investment in Rural Assets

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2022/3

Module Convenor: Mrs Angela Cropley
Email: a.cropley@henley.reading.ac.uk

Type of module:

Summary module description:

Investment in rural land and property has been a significant element of the UK countryside for generations but the sector is seeing substantial change, with traditional family and institutional owners being joined by new investors, whether for individual or corporate investment.

Rural property has been seen as a conservative but safe asset, often demonstrating contra-cyclical performance, and thus attracting investors seeking to balance more speculative asset classes in their portfolios. Traditionally agriculture has been the focus of this investment, but emerging markets are gaining ground in the rural sector particularly in terms of natural capital and ecosystem services.

Those operating in this sphere need to demonstrate a range of technical knowledge from an understanding of the core influences on rural land as an asset class to the ability to analyse and project long-term financial performance. This module is intended to introduce Real Estate students, including those who wish to make a career in the rural sector, to the range of financial, economic and asset management skills required to offer strategic advice in this area.

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Aims:

The aims of the module are to provide students with the appropriate technical and strategic consultancy skills to:

• Analyse and interpret motivations for investment in the rural property sector


• Reflect on the ambitions and approach of different investors whether passive managers of legacy estates or active portfolio developersÌý


• Review the increasing demand for rural land for a variety of uses including food production, forestry, renewable energy, leisure and recreation, ecosystem services and residential and commercial development


• Explore the influences on owners and investors in the rural sector, including strategic opportunities, taxation and ESG

Assessable learning outcomes:

Upon completion of this module, students should be able to:

• Evaluate the varying strategic influences on rural property investment, management and disposal, including the key role of owners’ objectivesÌý


• Apply analytical techniques and problem solving skills to formulate strategic plans for rural investors and demonstrate how to implement themÌý


• Examine the increasing importance of diversification, sustainability and community engagement on rural asset managementÌý

Additional outcomes:

• Enhance communication skills through case studies and presentations in seminar sessionsÌý


• Develop report writing skills through courseworkÌý


• Enhance the ability to research and assimilate technical informationÌý

Outline content:

• Rural land ownership and occupationÌý


• Asset management and exploitationÌý


• Influences on rural asset investment, management and disposalÌý


• Appropriate investment vehicles


• Analysis of financial performance and riskÌý


• Rural planning and developmentÌý


• Diversification of rural asset portfolioÌý


• Sustainability and community engagementÌý


• Capital taxation and tax planningÌý


• Formulation and implementation of strategic plansÌýÌý


• International rural investmentÌý

Brief description of teaching and learning methods:

Delivery will be through lectures, possibly including visiting speakers from across the sector. Seminars will be used to provide a focus for applying knowledge and skills gained in the module to real-life examples. A visit to a rural site or estate may be included.

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

Written report (100%)Ìý

Submission dates: Week 11 spring termÌý

Formative assessment methods:

In-class case studies will provide students with the opportunity to apply their learning to real-life scenarios, and to receive informal feedback as to their understanding of core principles and concepts.Ìý

Penalties for late submission:

Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information:

http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspxÌý

Assessment requirements for a pass:

The pass mark for this module is 50%

Reassessment arrangements:

Reassessment will be by the same method as for the module’s original assessment requirements, subject to variations by the examination board where appropriate.

Additional Costs (specified where applicable):

Last updated: 22 September 2022