Course Overview
Course summary
Informed by our extensive commercial and professional partnerships within the property sector, this practical Master’s course will prepare you to adapt and excel within the complex and ever-changing real estate market – from valuation and appraisal to the strategic management and development of commercial and residential property assets.
Accredited by the Royal Institution of Chartered Surveyors (RICS), it aims to provide a challenging, stimulating and professionally relevant course of study that is directly related to the valuation, management and development of real estate property. Capitalising on our excellent industry contacts, course content is informed by leading firms such as Barratt Homes and British Land, as well as Savills and Cushman and Wakefield, who regularly send their own staff to train with us.
Taught by staff who will share their own experiences as surveyors and planners, you'll gain a detailed understanding of the property development and appraisal process, encompassing the financial, physical, legal and social aspects. You’ll also develop the latest management skills and techniques to successfully deliver projects to meet client expectations taking account of any external constraints.
Our central London location enables us to invite a wide range of professionals to give guest lectures and we arrange various site visits, so you can experience real-life estate strategies and see developments from construction through to completion. As part of the Development Finance and Funding module, a limited number of students have the opportunity to participate in an international study trip, which in 2019 included visits to Brookfield Properties and Cushman and Wakefield in New York. To take part in this trip, you'll have to pay an additional fee of about £950.
The course is ideally suited to graduates with some existing property experience, who aspire to senior positions in real estate development or property management. However, you will be welcomed if you’re seeking to move to a career within this dynamic industry and can demonstrate your passion for property.
Most of our graduates go on to work for central London property firms, in real estate development, valuation or estate management, while others pursue property-related careers with local authorities and housing associations.
Top reasons to study with us
- One of the few UK universities to bring together all the disciplines that inform the design and development of our towns and cities
- Excellent industry links with property firms and construction companies including Lendlease, Knight Frank, Chase and Partners, RICS and Falcon Chambers
- Street walks taking in Marylebone, Euston and Fitzrovia, and street talks incorporating Kings Cross redevelopment, Baker Street and Mayfair
- London location enables us to invite directors of leading property firms to deliver guest lectures, previously from Cushman and Wakefield, Savills, CBRE, JLL, Lend Lease and BRE
- Multicultural learning experience with students from all over the world
- Contractors, developers, professional consultancies, client organisations, central government and local authorities all employ our graduates
Course structure
The aim of the course is to provide you with a detailed understanding of the property development and appraisal process, encompassing valuation, financial, physical, legal and social aspects. You'll analyse development situations and respond to particular development problems with derived solutions. You’ll also enhance your capability to critically appraise options and independently evaluate alternative courses of action. There are seven core modules, including the dissertation, and one option module.
Depending on your choice of option modules, you can tailor your studies towards valuation, legal or property finance and investment, learning more about procurement surveying, how to raise capital, take financial decisions or deal with banks and investors.
The modules below are indicative of what you will study on this course. You will take modules totalling 180 credits.
Semester 1
In the first semester, you'll study subjects including property and planning law, valuation and finance with examples from real case scenarios. Industry guest speakers will complement lectures delivered by the course team, and student activities will include site visits and work on property development and finance projects that will bring together skills newly acquired as part of your learning process.
Semester 2
In the second semester, you'll be given the opportunity to register for an optional field trip to an international property market destination (subject to additional cost). In the past, for example, students travelled to New York to study urban regeneration and real estate development in midtown Manhattan and the surrounding areas. They visited some of the major development firms, the city’s business department, business improvement districts and one of the world’s largest new developments at Hudson Yards.
To complete the course, you need to choose a research topic, conduct empirical research and produce an academic dissertation. Previous students have, for example, considered the impact of Crossrail on house prices in outer London boroughs, analysed the shortcomings and alternatives to the Help to Buy Scheme (HTB) and the impact of tenant rights on the residential property markets in the UK and Germany.
Core modules
The module aims to set corporate decision making in the context of the business environment, corporate goals and the practice of company finance, estate and portfolio management. You will gain a grounding in property as an asset class, and a practical and theoretical appreciation of the techniques and practices currently being used in the management and valuation of commercial property. In the financial element of this module, you will explore issues relating to accounting principles and financial management accounts, and the implications of tax. Equally important is an appreciation of ratio analysis and strategy.
20 credits
The module aims to build up practice-based skills by enabling you to produce a report based on an individually conducted research project. You will be supported by a series of research methods classes and by the appointment of a supervisor, who will provide advice and guidance throughout a research project.
40 credits
This module fosters reflection on where the law comes from and how it develops (including the influence of European Law), and encourages your understanding of the relationship between the legal process and social change. You will develop mastery of the key principles (and their operation in practice) of English Law relating to business, including contract, tort, real estate law and regulatory regimes which particularly affect the property industry. You will also gain a greater understanding of legal theory, including statute and judicial precedent; the role of Europe; tort, contract and business law; administrative law and regulatory regimes; real estate law; and landlord and tenant law.
20 credits
This module critically examines the stages involved in developing land and properties, and the roles of key players involved in appraising physical, legal, financial and social aspects required for a successful outcome. The study concentrates on single and multiple use developments (with a focus on commercial and residential). Emphasis is placed on the needs of developers as well as end users as consumers of development projects, whilst also reviewing aims and objectives of other key players in the development process.
20 credits
The module addresses the strategic role of lending in the property sector. The sector has become dependent upon lenders for the vast majority of cash inflows into it; and the module will look at the history of the involvement of lenders, the risk assessment and risk mitigation, and the procedures involved in lending on property. The study of traditional banking will be supplemented with investment banking techniques.
20 credits
This module is designed to critically evaluate the merits and limitations of the traditional and contemporary approaches ;to real estate valuation in the broad economic, financial and social context. The module examines the challenges facing the global valuation profession in the valuation process due to technology advancement and social changes, and further explores the modern methods of valuation and the valuation practice that can fit for the future.
20 credits
The module develops a strategic approach to the implementation of sustainability into a building's lifecycle. Achieving sustainability is critically assessed throughout various stages of the Real Estate development (including project feasibility, design, planning, construction, estate management and refurbishment) with a focus on stakeholders’ roles, responsibilities and decision-making as part of a multidisciplinary team.
20 credits
Option modules
This module centres upon methods of valuation applicable to properties for rating, and compulsory purchase purposes together with leasehold enfranchisement and properties subject to the housing acts.
20 credits
This module covers the concepts and law surrounding commercial lease practice and rent reviews/lease negotiation, from both a landlord's and tenant's perspective. You will develop an understanding of, and familiarity with, the legal background to the landlord and tenant relationship, and its application in practice. This will include the study of statutory security of tenure, rent review, and other usual lease clauses including 'break' clauses, repair, user, alterations and alienation. You will also consider and discuss points of practical difficulty and complexity involved in negotiating lease terms and their subsequent implementation.
20 credits
This module provides an overview of the planning system in England and Wales. It examines what planners do in practice and the role of planning in the property development process. Students will learn how to determine whether something requires planning permission, and how to appraise the planning context of a site. The module will examine where local planning policies come from and how planning applications are determined.
20 credits
This module acquaints students with the integrated theoretical and practical concepts and knowledge on property investment. It examines the changing legislation and regulations relating to the management of property as a financial and investment asset amongst the alternative investment vehicles, and how investment theories can apply in the global property market. Gamification as one of the innovative learning technologies is employed to help students create,evaluate and appraise their investment strategies/decisions and the performance of their own investment portfolios.
20 credits
Professional accreditation
This course is fully accredited by the Royal Institution of Chartered Surveyors (RICS).
For more details on course structure, modules, teaching and assessment Download the programme specification (PDF).
To request an accessible version please email [email protected]
Get your copy of the University of Westminster prospectus and browse the range of courses on offer.
Contact us for general course enquiries:
+44 (0)20 7911 5000 EXT 65511
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Careers
Real estate is a dynamic, sociable and high-earning profession. It encompasses most areas of commercial (industrial, office and retail) and residential property.
The RICS accreditation will enable you to take the Professional Assessment of Competence after a period of suitable employment. When you enrol on this course, you’ll be entitled to register for RICS student membership and access training as part of the CPD Foundation. This, coupled with the relationships with other professional bodies and our alumni, gives you access to some excellent networking opportunities with city and suburban property firms.
On graduation, you'll find employment opportunities in the public, private and not-for-profit sectors. Previous students have undertaken roles in property development, valuation, law, finance and investment, as well as property management for major property firms, such as Cushman and Wakefield, Savills, Knight Frank, as well as other property development and consultancy companies within Greater London and surrounding areas.
With a growing global network of 3,000 employers, our Careers and Employability Service is here to support you to achieve your full potential.
Develop your CQ
Develop your cultural intelligence – or ‘CQ’ – studying alongside students and staff representing more than 100 nationalities.
Meet leading employers
Our Annual Property and Construction Careers Fair attracts leading employers, which in 2019 included CBRE, Mace, Barratt Developments, Savills, Carter Jonas and Grainger.
Develop your network
Our relationships with professional bodies and our alumni give you access to excellent networking opportunities.
Industry links
Our course was designed with input from a range of industry professionals and, to retain currency and relevance, we receive ongoing feedback from the School’s Employability Advisory Board. Current members include practitioner representatives from the multinational construction, property and infrastructure company Lendlease, commercial property experts Chase and Partners, and CABE.
We are proud of our excellent industry links with a host of property companies, large and small, together with key professional bodies, including RICS, CIOB and CABE. They enable us to host a highly successful Annual Property and Construction Careers Fair, which in 2019 attracted 40 employers, including:
- CBRE
- Mace, JLL
- Barratt Developments
- Bouygues UK
- Savills
- Carter Jonas
- Grainger
Immensely popular with our students, the fair provides a unique opportunity for them to meet with leading employers in the property and construction sector, learn first-hand about their organisations, secure work experience or receive guidance from a panel of speakers on the graduate scheme application process for some of the larger employers.
Job roles
This course will prepare you for roles in major property companies and advisory practices including:
- Property development
- Valuation
- Commercial/residential agency
- Property consultancy
- Property investment
- Investment/asset management
- Corporate real estate/facilities management
Graduate employers
Graduates from this course have found employment at organisations including:
- Savills
- Cushman and Wakefield
- The British Land Company
- Montagu Evans
- Countryside Properties
- Chase and Partners
Westminster Employability Award
Employers value graduates who have invested in their personal and professional development – and our Westminster Employability Award gives you the chance to formally document and demonstrate these activities and achievements.
The award is flexible and can be completed in your own time, allowing you to choose from a set of extracurricular activities.
Activities might include gaining experience through a part-time job or placement, signing up to a University-run scheme – such as mentoring or teaching in a school – or completing online exercises.
Read more about our Westminster Employability Award.
Course Leader
Dr Gheorghe Multescu
Senior Lecturer
A Senior Lecturer in Property and Senior Fellow of the Higher Education Academy (SFHEA), Gheorghe leads Westminster Business School’s postgraduate property programmes. This includes the MSc Real Estate and the joint MBA International Real Estate (London block) course, which is run in partnership with Akademie der Hochschule Biberach (Germany).
Gheorghe has achieved Chartered status with the Architectural Registration Board (ARB UK) and his professional experience includes work on residential and commercial design schemes. His expertise in real estate includes over 16 years of teaching and research on various aspects of UK and international property development and planning, European and international real estate and construction markets, corporate real estate management, urban development, regeneration, and planning policy. His research training includes scholarships held at the Technische Universität Wien (Austria) and London South Bank University, as well as regular participation in academic conferences, such as the European Real Estate Society.
A trained Architect and Planner, Gheorghe graduated with a BArch DipArch (RIBA accredited) from the University of Architecture and Urbanism (UAUIM) in Bucharest, Romania, where he subsequently studied his MSc in Architecture and Town Planning before gaining his PhD in Urban Development and Policy from London South Bank University.
The property industry is a fascinating and dynamic place that has moved a long way in recent years to achieve new local and global dimensions. As a professional, I like the complex and cyclical nature of property, combining bricks and mortar with a mix of economics and finance, law and policy, as well as business and management knowledge. This makes property a very exciting area to go into and here at the University of Westminster we teach you the right practical skills and competencies for a successful property career.
Course Team
Teaching and assessment
Your learning experience is designed to provide both a highly practical and theoretical understanding of real estate, property and planning. By regularly drawing on real-world situations and getting you to undertake professional activities, such as valuations, you’ll receive excellent preparation, able to make an immediate impact, when you start work.
To assist the learning experience, we provide reading lists, lecture and seminar materials in advance via Blackboard, our virtual learning environment. Where possible, lectures are recorded using specialist software and similar tools so you can reference them at a later date.
How you’ll be taught
Through a variety of teaching methods – from lectures and seminars to case study analysis, project work and workshops – you'll apply your study to real-world experience. This will develop your understanding of the links between the subjects and, equally importantly, your presentation, writing and team-working skills.
We adopt a problem-based approach to learning, which often draws on real-life situations you would encounter in professional life. So, for example, when studying the 1925 Law of Property Act, you may consider a past compulsory purchase and determine which rights and responsibilities are involved, or you might hear directly from a solicitor who deals with related issues day-to-day. You won’t just learn about how to appraise a property appraisal, you may be given a laser tape measurer and tasked with measuring up a property.
You’ll have plenty of opportunities to gain valuable insight from current practitioners, which in the past has included guest lectures from RICS, Cushman & Wakefield, Savills, and Chase and Partners. Where possible, we also take you to visit and learn first-hand from various organisations and businesses.
Taught by staff with many years of experience in surveying, in property lending, corporate acquisition, property training and development consultancy for and on behalf of local authorities and housing associations, you’ll also study alongside a number of part-time students who are currently working in the industry and will often bring live scenarios they are tackling into the classroom.
In the following graph you'll find examples of how study time has been distributed in the past (data from the academic year 2022/23). Changes to division of study time may be made in response to feedback and in accordance with our terms and conditions. Learning typically falls into three broad categories:
Scheduled hours: examples include lectures, seminars, practical classes, workshops, supervised time in a studio
Placement: placement hours normally include placement opportunities, but may also include live projects or virtual activity involving employers
Independent study: non-scheduled time in which students are expected to study independently. This may include preparation for scheduled sessions, follow-up work, wider reading or practice, completion of assessment tasks, or revision
How you’ll be assessed
Using a wide range of techniques, you can expect to be assessed on the learning outcomes of your course in core modules through coursework in the form of essays, reports, presentations, case studies as well as time-constrained in-class tests and exams.
We try to make assessments as practical and relevant as possible, incorporating the type of work required by future employers, for example, including valuation reports, technical reports and presentations.
In the following graph you'll find an indication of what you can expect (data from the academic year 2022/23). Changes to assessment weights may be made in response to feedback and in accordance with our terms and conditions. Assessments typically fall into three broad categories:
- Practical: examples include presentations, podcasts, blogs
- Written exams: end of semester exams
- Coursework: examples include essays, in-class tests, portfolios, dissertation
Why study this course?
Accredited course
Our course is accredited by the Royal Institution of Chartered Surveyors and enables you to pursue a successful career in property.
Combine theory and practice
The course links theory to global practice through real-life case studies, projects, field trips and insights from practitioners.
Learn from experts
Experts will share their professional experiences of working in the property and construction industry.
Entry Requirements
A minimum of a lower second class honours degree (2:2) and GCSE Grade C Maths. Relevant degree disciplines include geography, economics, finance, a traditional science, a property-related discipline or law, or membership of a recognised professional body whose entry requirements are equivalent to graduate level and/or alternative professional qualifications with at least three years of relevant professional experience.
If your first language is not English you should have an IELTS 6.5 overall with 6.0 in each component.
Applicants are required to submit one reference.
View more information about our entry requirements and the application process.
A minimum of a lower second class honours degree (2:2) and GCSE Grade C Maths. Relevant degree disciplines include geography, economics, finance, a traditional science, a property-related discipline or law, or membership of a recognised professional body whose entry requirements are equivalent to graduate level and/or alternative professional qualifications with at least three years of relevant professional experience.
If your first language is not English you should have an IELTS 6.5 overall with 6.0 in each component.
Applicants are required to submit one reference.
More information
University preparation courses
Our partner college, Kaplan International College London, offers Pre-Master’s courses that may help you gain a place on a postgraduate degree at Westminster.
To find out more, visit University preparation courses.
Student work
In 2020, students travelled to New York to study urban regeneration and real estate development in midtown Manhattan, where they visited some of the major development firms, including Brookfield Properties and Cushman and Wakefield, and a range of new developments, including Hudson Yards. They also met up with former students now working in America, for some of the large corporations, giving them unprecedented behind-the-scenes access to properties.
In 2018, a study visit to Hong Kong enabled students to compare Hong Kong and London core property market features. The trip included presentations by top Hong Kong Property development and investment consultancies including Savills, FTI Consulting, Jones Land LaSalle (JLL) and Swire Properties. Architects from leading practices, such as Aedas, Lead 8 and Studio QUAD, talked to them about some of their major projects in Hong Kong and mainland China, including West Kowloon railway station. In addition, local tours of some of the top residential and commercial landmarks gave the students a real insight into Hong Kong’s vibrant property markets. These included visits to the Gold Coast (largest residential development in Hong Kong by Sino Group), Swire’s Taikoo One place, Emperor Group’s headquarters and a double-decker (Ding-Ding) tram tour of the Hong Kong Island retail market led by K K Wong (retail consultant).
On their return to London, students had to create an extended field trip report with a comparative property market analysis between London and New York or Hong Kong as part of their Development Finance and Funding module. One student, who visited Hong Kong and New York, described the experience as “two unforgettable trips, absolutely worthwhile and extremely inspiring and motivating”. They gave “a different perspective on real estate development and better understanding of the role of property as part of a country’s economic development and growth”.
Learn new skills
Build key skills
Develop time management, dispute resolution, communication and ethical skills needed in property.
Develop critical thinking skills
Learn to critically evaluate the strategies that managers use to help organisations adapt in an uncertain or complex environment.
Improve your problem-solving skills
Improve your problem-solving skills to better understand and tackle people management issues.
Westminster Business School blog
Read our blog and get an insight into life and studies at Westminster Business School.
Fees and Funding
UK tuition fee: £14,700 (Price per academic year)
When you have enrolled with us, your annual tuition fees will remain the same throughout your studies with us. We do not increase your tuition fees each year.
Find out how we set our tuition fees.
Paying your fees
If you don't wish to pay the whole amount of your fees at once, you may be able to pay by instalments. This opportunity is available if you have a personal tuition fee liability of £2,000 or more and if you are self-funded or funded by the Student Loans Company.
Find out more about paying your fees.
Alumni discount
This course is eligible for an alumni discount. Find out if you are eligible and how to apply by visiting our Alumni discounts page.
Funding
There is a range of funding available that may help you fund your studies, including Student Finance England (SFE).
Find out more about postgraduate student funding options.
Scholarships
The University is dedicated to supporting ambitious and outstanding students and we offer a variety of scholarships to eligible postgraduate students.
Find out if you qualify for one of our scholarships.
Additional costs
To take part in the optional international study trip, you'll have to pay an additional fee of about £950.
See what you may need to pay for separately and what your tuition fees cover.
International tuition fee: £17,500 (Price per academic year)
When you have enrolled with us, your annual tuition fees will remain the same throughout your studies with us. We do not increase your tuition fees each year.
Find out how we set our tuition fees.
Paying your fees
If you don't wish to pay the whole amount of your fees at once, you may be able to pay by instalments. This opportunity is available if you have a personal tuition fee liability of £2,000 or more and if you are self-funded or funded by the Student Loans Company.
Find out more about paying your fees.
Alumni discount
This course is eligible for an alumni discount. Find out if you are eligible and how to apply by visiting our Alumni discounts page.
Funding
There are a number of funding schemes available to help you fund your studies with us.
Find out more about funding for international students.
Scholarships
The University is dedicated to supporting ambitious and outstanding students and we offer a variety of scholarships to eligible postgraduate students.
Find out if you qualify for one of our scholarships.
Additional costs
To take part in the optional international study trip, you'll have to pay an additional fee of about £950.
See what you may need to pay for separately and what your tuition fees cover.
Supporting you
Our Student Hub is where you’ll find out about the services and support we offer, helping you get the best out of your time with us.
- Study support — workshops, 1-2-1 support and online resources to help improve your academic and research skills
- Personal tutors — support you in fulfilling your academic and personal potential
- Student advice team — provide specialist advice on a range of issues including funding, benefits and visas
- Extra-curricular activities — volunteering opportunities, sports and fitness activities, student events and more
Course Location
Our Marylebone Campus has benefitted from a multi-million-pound refurbishment resulting in new workshops, digital studios and development of the Marylebone Library. The campus is home to Westminster Business School and our award-winning Architecture, Planning and Tourism courses. For more details, visit our Marylebone Campus page.
Westminster Business School
Based in the heart of London's political, media and financial services, Westminster Business School has excellent industry links and a strong commitment to social enterprise.
Our courses are accredited by professional bodies including the Association of Chartered Certified Accountants (ACCA), Chartered Institute of Building (CIOB), Chartered Institute of Marketing (CIM), Chartered Institute of Personnel and Development (CIPD) and Royal Institution of Chartered Surveyors (RICS).
Our practical teaching relates learning to the real world, and we develop graduates who are ready to respond to contemporary business challenges.
Contact us
Call our dedicated team on:
+44 (0)20 7911 5000 ext 65511
Opening hours (GMT): 10am–4pm Monday to Friday
Opening hours (GMT): 10am–4pm Monday to Friday
More information
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