讲解 127.241 Property Market Principles Assignment 1讲解 Processing

127.241 Property Market Principles

Assignment 1 – Report worth 30% of your final grade.

This assignment will enable you to provide evidence of your competence in the following course learning outcomes:

• Describe the factors that influence the real property market.

• Critically analyse how environmental and/or sustainability factors impact on property decision making.

Summary: Prepare a report where you determine an alternative highest and best use for the Quad A and Quad B Building/s on the Massey Albany Campus. Please refer to the story of 18 December 2023, ‘Cash-strapped Massey University to sell or lease parts of its campuses’ by George Heagney: https://www.stuff.co.nz/national/education/301026066/cashstrapped- massey-university-to-sell-or-lease-parts-of-its-campuses

Working for HIJ Consultants, you need to address the report to Professor Jan Thomas, Massey University, PO Box 123, Auckland. Professor Thomas wants to understand what potential buyers may use the buildings and land for.

The buildings are currently used by Massey University staff; however, your task is to find an alternative use from this current use. Your conclusion cannot be that the current use is the highest and best use, as this is not the point of the assignment. There is noone right answer, rather, we are looking at how you determine your conclusions.

The definition of highest and best use is: “the use of an asset that maximises its potential and that is physically possible, legally permissible and financially feasible.” (International Valuation Standards Council). Consequently, you should base your answer upon the physical, legal, and financial dimensions of the property.

1. Physical: You should briefly describe the property, the location, and any other pertinent factors. What is the property best suited for, or what can it accommodate practically? You may find the screenshot in the appendix helpful, where you can estimate an area around the buildings. Please refer to the heading: ‘ Extract from Auckland Council Geomaps.’

2. Legal: What does the District or Unitary Plan say you can do with the property? You will need to visithttps://www.aucklandcouncil.govt.nz/plans-projects-policies-reports- bylaws/our-plans-strategies/unitary-plan/Pages/default.aspx

In this assignment you are required to identify how the Unitary plan protects the sustainability of landon the subject site. We prefer that you comment on one or two sustainability factors, in depth, rather than listing numerous examples.

Additionally, refer to the Record of Title, which is at the back of this question information.

3. Financial: What current market trends help to justify your choice? You do not have to carryout a detailed financial feasibility; however, any broad financial indications of the rent, sale price etc would be highly regarded.

With the above points 1-2 inclusive you need to critically analyse each possible option (i.e. residential, retail etc.) by evaluating the advantages and disadvantages. Also, include a recommendation for how the property could be redeveloped, or reused in an acceptable way to Massey University. Massey will continue to own and occupy other parts of the campus.

Further comments:

1. Be sure to comment on a sustainability factor/s from the unitary plan. Note that I would prefer that students go into depth on one or two factors rather than discuss many different factors.

2. To encourage attendance in class, for this assessment only, I will allow students to submit an assignment as a group. The maximum group number is five (5) students, but to be eligible, those students must regularly attend classes in person, or who have justifiable reasons for not attending e.g., a note from a doctor specifying they have been medically unwell. Please send me the list of group members prior to week nine.

The motive for allowing this option is to encourage class attendance. Students will need to manage the group themselves, as there will be different styles and motivation levels. In the worst-case scenario, some group members may not contribute at all, so choose wisely. There are no additional marks for level of participation for this assignment, but I do want you to indicate what contribution each student made (not part of word count). In serious circumstances where a student does not contribute at all then the other group members can provide me with written feedback, and after trying to communicate with the student, I reserve the right to award reduced marks or a mark of zero to the non-contributing team member.

Marking guidelines

Structure A well-formatted and clear document. It should include: 1. Title page. The report title, authors, author’s organisation, client, and date of completion should all be here. 2. Introduction. This should explain the rationale for the report, subject property description, report content, indications on how the report use, limitations and key recommendations. 3. The other items mentioned below, such as the discussion section, and recommendations. The content of the discussion and recommendation sections are assessed below.	Total marks out of 10	Comment if any
Discussion: Clear, logical, and accurate discussion of physical, legal, and financial aspects is used to justify selected highest and best use. A thorough research process should support your discussion. As part of this process, you need to critically analyse each of the options by evaluating the advantages and disadvantages of each option put forward. Internal Massey code: CRIT	Total marks out of 50
Sustainability: One two aspects of land development identified in the documentation that enhance sustainability are identified. Internal Massey code: ENVIRO	Total marks out of 10
Recommendation: Concisely stating the main recommendation of what the highest and best use is.	Total marks out of 5
Academic writing: Writing is fluent, coherent, and concise, and spelling and grammar show evidence of meticulous proofreading. Adherence to an 1800-word restriction, excluding references, Place the word count at the end of the main body of the report, just prior to the reference section. Internal Massey code: WCOMM	Total marks out of 20
Referencing: In-text citations and the reference list are complete, accurate and formatted consistently with APA style. Any supporting documentation, provided in the appendix.	Total marks out of 5

Report writing – some comments.

Insetting these assignment guidelines from the introductory Accounting course (115.112) have been used because it should be a format familiar to both Construction and Property students alike. Please use a reasonable layout that needs to be focused, concise and summarised.

The following extract may be of assistance:

‘Writing reports gives practice applying theoretical concepts to a real-life context. If you are planning a career in an organisational context, it is likely that at various stages in your career writing reports will be required. Learning to write a report, therefore, is not just a method by which your lecturers evaluate you; it is also part of professional development, and away of learning business principles, integrating them into your critical mind.

Organisations call for reports when they have difficult decisions to make. They therefore require the author to exhibit investigative skills, judgment, and the ability to write

persuasively. Writing persuasively for a report, means that you need to appear to be objective. You are required to produce proof or evidence to support your ideas.

Remember above all that a report is a practical project. A report assumes that someone has a problem, and they want guidance on how to deal with the problem. If you are writing for a