MMP 122 Introduction to Property Development
MMP 122 Introduction to Property Development
Trimester 2, 2023
Assessment 2 Development Proposal Report
DUE DATE AND TIME: [Week 11, Monday 25th September, 2023 8PM]
PERCENTAGE OF FINAL GRADE: [35% of unit assessment]
WORD LIMIT: [Approximately 2,000 words]
010122573
Deakin's Bachelor of Commerce and MBA are internationally
EPAS accredited.
Deakin Business School is accredited by
AACSB and
EQUIS.
Deakin's Bachelor of Commerce and MBA are internationally
EPAS accredited.
Deakin Business School is accredited by
AACSB and
EQUIS.
Learning Outcome Details
Unit Learning Outcome (ULO) Graduate Learning Outcome (GLO)
ULO 1: Describe the fundamental requirements and stages of residential property development. GLO 1
ULO 2: Differentiate between the different residential property submarkets. GLO 1
ULO 3: Perform a highest and best use analysis and basic feasibility study of a residential property development. GLO 1 and GLO 5
ULO 4: Consider the impact of a range of social, sustainable, ethical, economic, and cultural issues in property development decisions. GLO 1 and GLO 8
Assessment Feedback:
Students who submit their work by the due date will receive their marks and feedback on CloudDeakin in 15 business days from the due date.
Description / Requirements
Context
This assignment builds on your/a first assignment and the information discussed throughout the weekly Cloud Deakin modules, lectures, seminars and also the prescribed text; Property Development by Richard Reed, 7th ed. You also may wish to draw upon additional resource material to assist in this assessment task.
There are five separate tasks to be undertaken for the assignment as follows:
Site Summary overview:
Provide only the essential/key information from the site inspection of your first assessment task (A-1). Essential/key information includes planning zones, overlays, dimensions, services on site, relevant authorities, council info and the three SDGs that you incorporated into the development project. For this task, assume that your reader already has a copy of A-1 and that this task is just to summarise the key points for them. The use of tables to summarise your information is encouraged for Assessment 2. Do not copy and paste this information directly from A-1 as this constitutes plagiarism.
Highest and Best Use Analysis (HBUA):
Undertake a highest & best use (HBU) analysis for your selected site and proposed development by examining the four factors of HBU (physically possible, legally permissible, financially feasible and maximally productive). Ideally you will have 2-4 development proposals and all but one of them will be dismissed, leaving 1 proposal as the HBU option. A comparative table of the different proposals (across the 4 factors) would be ideal. A (one) SWOT analysis here would be ideal.
Proposed development:
By drawing on the information sourced via the preliminary site evaluation, planning research, sustainability analysis, HBU analysis and market research conducted for A-1, identify and detail what you now propose to develop on the site. Within your development proposal you must include how your development contributes towards the three SDGs considered in the initial design of your project.
Additionally, include one paragraph on how you have considered the state of (and trends in) the global and local economies in your proposal.
To support what you are proposing you should include (but not limit yourself to) a detailed site and design plan (with different aspects), indicative floor plans including approximate building size, indicative images, car parking, etc. Remember to state the quality of development/ construction finish (e.g.: medium) and why you have selected this. Here is your opportunity to present to your client your vision for the site.
Financial Evaluation
Part One
You are required to detail & explain the:
site purchase value,
total construction cost, and
development sale value upon project completion.
You should support your purchase and sales value(s) with some sales evidence. This can be obtained from (for example) www.realestate.com.au; www.domain.com.au; www.pricefinder.com.au or speaking with local estate agents.
Note: To determine your building cost you may wish to consult Cordells or Rawlinsons building price books or the Archicentre Cost Guide to arrive at total costs of the project. Rawlinsons construction cost guide is available online via Deakin library (use the most recent guide)
If your site has an existing residence and you wish to demolish the dwelling, then allocate a notional sum of $30,000 for demolition.
Part Two
Once you have undertaken the above steps, you are now required to undertake a profit analysis. This profit analysis will be detailed in the seminar (tutorial) sessions. Make sure to review the tutorial session related with the profit analysis before you start to work on this part.
5. Recommendations:
You will need to provide a thorough recommendation to your client, justifying your recommendation on your findings from the market analysis, the highest and best use (HBU) and financial analysis.
Submission Instructions
Due Date: To be submitted dropbox online via the assessment tab on the MMP122 CloudDeakin page no later than 8:00 PM AEST, Monday 25th September, 2023.
Deakin has a universal assessment submission time of 8pm AEST. A late penalty will apply to assessment submitted after 11.59pm AEST. 5% of penalty will be incurred per 24 hours from 11:59PM AEST 25th September, 2023. Maximum penalty for late submission is 25%. Any submission after 5 days (5 X 24hours) from 11:59PM AEST 25th September, 2023 will not be marked. After 5 days, the dropbox will be closed for submissions unless an extension or special consideration has been applied for.
All assignments are to be submitted online in an area provided in CloudDeakin. They are counted as "on time" if submitted by the specified time AEST on the due date. If necessary, you can look up your local time.
Length: Maximum 2,000 words (+10%) which includes all words except title page, table of contents and references.
Format: Report. This assignment requires you to write a professionally written (and visually interesting) industry standard report. This aspect is important for this task. See your tutor if this is unclear for you. Please submit your report in PDF or WORD format only. Files in other format, such as Pages, are not allowed.
Support: http://www.deakin.edu.au/students/study-support Referencing: Students must correctly use the Harvard style of referencing.
For questions regarding this assignment please ask them either in the lecture, seminar or on the discussion board.
You must keep a backup copy of every assignment you submit, until the marked assignment has been returned to you. In the unlikely event that one of your assignments is misplaced, you will need to submit your backup copy.
Any work you submit may be checked by electronic or other means for the purposes of detecting collusion and/or plagiarism.
When you are required to submit an assignment through your CloudDeakin unit site, you will receive an email to your Deakin email address confirming that it has been submitted. You should check that you can see your assignment in the Submissions view of the Assignment dropbox folder after upload, and check for, and keep, the email receipt for the submission.
Notes
Penalties for late submission: The following marking penalties will apply if you submit an assessment task after the due date without an approved extension: 5% will be deducted from available marks for each day up to five days, and work that is submitted more than five days after the due date will not be marked. You will receive 0% for the task. 'Day' means working day for paper submissions and calendar day for electronic submissions. The Unit Chair may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the due date.
For more information about academic misconduct, special consideration, extensions, and assessment feedback, please refer to the document Your rights and responsibilities as a student in this Unit in the first folder next to the Unit Guide of the Resources area in the CloudDeakin unit site.
Building evidence of your experiences, skills, and knowledge (Portfolio) - Building a portfolio that evidences your skills, knowledge and experience will provide you with a valuable tool to help you prepare for interviews and to showcase to potential employers. There are a number of tools that you can use to build a portfolio. You are provided with cloud space through OneDrive, or through the Portfolio tool in the Cloud Unit Site, but you can use any storage repository system that you like. Remember that a Portfolio is YOUR tool. You should be able to store your assessment work, reflections, achievements, and artefacts in YOUR Portfolio. Once you have completed this assessment piece, add it to your personal Portfolio to use and showcase your learning later, when applying for jobs, or further studies. Curate your work by adding meaningful tags to your artefacts that describe what the artefact represents.
Deakin University has a strict standard on plagiarism as a part of Academic Integrity. To avoid any issues with plagiarism, students are strongly encouraged to run the similarity check with the Turnitin system, which is available through Unistart. A Similarity score MUST NOT exceed 20% in any case.
