7L005 Professional Practice Report - Property Management Coursework
Level 7 Assessment Brief
Part B
I hereby confirm that Generative AI as a source of information is NOT allowed in the assessment task ☒
Please note, ALL STUDENTS must include an Assessment Cover Sheet for RAP and GenAI declaration with their submission and indicate NO use of AI and NO use of AI support tools.
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Module name
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Asset Management |
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Module number
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7L005 |
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Staff member setting exercise |
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Moderator |
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Assessment components
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Professional Practice Report - Property Management (max. 1500 words). Coursework. |
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Learning outcomes tested |
ILO1 ☐ ILO2 ☐ ILO3 ☒ ILO4 ☒ ILO5 ☒ |
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Word or time length guide
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1,500 words to exclude title page, contents page, executive summary, reference list, appendices, figures and tables. No penalty will be applied for the first 10% over the limit (i.e. no penalty for 150 extra words), however, one mark will be deducted for every 10% extra words after that.
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Assessment weighting (%)
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50% |
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University regulations for assessment |
All assessments are subject to the Academic Regulations.
Work should follow normal academic conventions for acknowledging sources using the APA7 reference system).
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Marking criteria
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The assessment will be marked according to the following specific marking criteria: · Application and Understanding of key statutory rules and case law and how they are used in real estate asset management scenarios. (30%)
· Analysis and critical reasoning in relation to the interpretation of the legal and management framework and logical and clear recommendations given. (30%)
· Presentation of advice and recommendations with clarity of expression, fluency and coherence based upon sound professional judgment (30%)
· Referencing and reference list: evidence of, and accuracy in, citing and referring to the relevant legal authority and other resources relating to asset management (10%)
The assessment will be marked in reference to the to the RAU Coursework Marking Criteria for level 7
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Special instructions |
There is a lot of work to be covered within the word count limit. Students are encouraged to minimise descriptive text, use bullet points wherever possible without impacting on clarity and make appropriate use of appendices to set out relevant statutes, case law and legal interpretation. |
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General matters |
Referencing / academic misconduct: Please note the comments related to generative artificial intelligence provided at the top of this assessment brief.
All use of generative AI will be classed as academic misconduct.
Support Documentation:All guidance, marking criteria and regulation documents are available on Gateway. |
The Brief
You have just been instructed as the new managing agent for a commercial property investment in Swindon. You have been asked to prepare a report setting out your recommendations. Please note that the information below relates to a real property and a real planning application, but details of the tenants and the leases are fictitious.
Background information
RAU Investments Ltd, your client, owns the freehold interest in the subject property, 55-61 Regent Street Swindon, SN1 1JS; a retail parade containing five retail units. The property is arranged over the ground and first floors with a service yard to the rear which is situated close to a multi-storey public car park.
Your client has submitted a planning application to Swindon Borough Council (SBC), reference S/22/1803. The application form, Planning, Design and Access Statement and floor plans (existing and proposed) can be viewed on SBC’s planning portal (and for ease of access have been provided within the supplementary attached files).
Occupiers and Leases
· 55-57 Regent Street. Ground + First Floor above the whole parade – is let to ‘Oh Look!’ - Ladies fashion under a 12-year FRI lease due to end on 31st January 2027. The tenant has security of tenure under the Landlord and Tenant Act 1954, Part II, and is keen to renew the lease.
· 58 Regent Street is let to a hair stylist on a 7-year FRI lease that expires on 30th June 2028. The lease is inside the ‘54 Act. When the property was last inspected there were obvious signs of damage to the property from condensation and a flood from a broken waterpipe serving one of the washbasins. The estimated costs of repairs are substantial. No request has yet been sent to the tenant requesting that the repairs are carried out, but you understand the tenant has indicated that they are not in a position to pay for the repairs. The tenant has been persistently late in paying rent, which under the terms of the lease are due quarterly in advance. The Landlord has agreed to invoice monthly in advance to ease the tenant’s cashflow, but the tenant is now 2 months behind with the rent.
· 59 Regent Street is currently vacant, notwithstanding that it is let to ‘Scouse’ fashion retailers on an FRI lease inside the ’54 Act which ends on 1st May 2026. Your client, and their former managing agent, have been unable to track down the tenant and there are rumours that they may have emigrated. The empty property has already been broken into, and when you went to make it secure you noticed that there was no stock, no till, and most of the removable shop fittings had gone.
· 60 Regent Street. The tenant, ‘Trumps’, a bakery, have indicated that they do not want to renew their 12-year lease (which is inside the ’54 Act) when it ends on 30th May 2026 because the owner has just turned 64 and does not want to sign up to a new 12 year lease. They might consider a shorter lease but would not want to go beyond their pensionable age.
· 61 Regent Street is let to ‘Daps’ a shoe shop. Their FRI lease will end on 1st June 2026 and no notices under the ’54 Act have yet been served. The lease does benefit from the security of tenure provisions under the ’54 Act. However, the tenant has served notice under the 1927 Act requesting compensation for tenant’s improvements. They have provided a certificate of tenant’s improvements which shows that they had permission 7 years ago to rack out the storage area. Talks to date reveal that those works would cost around £17,000 to carry out now (including an allowance of depreciation), and it is estimated the works add around £15,000 to the value of the unit.
Client objectives:
RAU Investments Ltd wishes to redevelop the property in accordance with the planning application that has been submitted which is likely to secure planning permission in July 2026; they have the funding in place for the refurbishment and will put the project out to tender with contractors as soon as consent is granted. It is likely that they will be ready to start construction work on the redevelopment in March 2027.
They need a strategic plan to secure vacant possession of the building, because the nature of the works proposed will make it entirely unusable during the refurbishment. They need to maximise income and minimise outgoings, however the main priority is to secure vacant possession by March 2027.
The Task
Prepare a report advising the client on:
1. The best negotiation approach for each unit given the details of the leases and the information set out above.
2. What next steps should be taken including contact with tenants and any notices that should be served under relevant legislation or lease terms for each unit.
3. Whether there are any compensation payments that might be due to any of the tenants.
4. How best to manage the property from now until the start of construction works, to maximise income and minimise costs.
Your report should alert the client to any potential risks, and highlight key dates where appropriate. Your recommended course of action for each unit needs to be clearly and professionally set out.
Given the word limit restrictions and your client’s desire for brevity, advice can be set out in bullet point form, where appropriate, so long as the meaning of the advice and analysis is clear. You can assume that the client is familiar with some of the concepts of the Landlord & Tenant Acts but needs guidance and advice on interpretation and application.
Explanations as to the effect of sections of relevant statutes and how they apply, together with details of relevant case law, can be set out in appendices.
(Assume terms and conditions of engagement have been agreed. Consequently, no cover letter is required.)
University’s Grading Criteria – Level 7
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Assessment Specific Grading Criteria What are the specific marking criteria for this module assessment? |
70-79 Excellent Pass |
80-100 Outstanding Pass |
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Understanding of the underlying key concepts, theories, topics and/or practices commensurate with the module learning outcomes associated with the context of the area of study. |
Understanding Demonstrate a sound understanding of the England legal framework, including contracts, statute and case law, as well as the commercial priorities of landlords and tenants when managing real estate assets. |
Excellent knowledge and analysis of key concepts, theories and topics. Synthesis of existing scholarship and evaluation and development of scholarly argument informed by latest research and developments in the discipline. Demonstration of independence of thought. High level of consistency with no or very few errors. |
Outstanding evaluation of the topic showing deep knowledge, understanding of key concepts, theories and/or topics from a broad perspective. May include new ways to present or organise discipline content. Synthesis of existing scholarship. Evaluation and discussion explicitly informed by latest research and developments in the discipline. |
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Application
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Application Demonstrate a clear and consistent ability to apply the understanding of the legal framework and commercial priorities of landlords and tenants into real world situations, taking on board the complexities and uncertainties that will exist. |
Excellent application of relevant theories, concepts and ideas. Very appropriate skills, methods and approaches used with originality to address the task. Informed interpretation (of theory) draws on a number of frameworks leading to informed decisions. |
Exceptional and sophisticated interpretation and application of ideas and concepts. Highly appropriate skills, methods and approaches used, with creativity and originality, to address the task. Excellent interpretation (of theory) draws on a number of frameworks leading to informed decisions. |
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Analysis |
Analysis Demonstrate the ability to assimilate and analyse information from clients, the market place and own research in a professional and appropriate way to allow the application of understanding into real word situations. |
Excellent analysis and development of critical thought and reasoning. Use of complex arguments, including consideration of different perspectives. Development of detailed and convincing conclusions. Work shows originality. |
Exceptional and thorough analysis and development of critical thought and reasoning. Use of highly complex and current arguments, including consideration of different perspectives. Work shows originality. Synthesis and development of detailed and convincing conclusions. |
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Argument |
Argument Demonstrate the ability to draw together understanding, analysis and application to enable the formulation of logical, professional and compelling arguments, conclusions, advice and negotiating positions. |
Critical engagement with a wide range of relevant resources including those at the forefront of current research. Evidence of self-directed and independent research and scholarship. Consistent and accurate use of referencing and academic conventions. Excellent presentation of ideas and concepts. Work addresses the task and has a coherent and consistent structure resulting. Work is effectively, clearly and persuasively expressed with no or very few errors in style and formatting. |
Excellent and creative critical engagement with a wide range of relevant resources including those at the forefront of current research. Evidence of self-directed and proficient research and scholarship. Consistent and accurate use of referencing and academic conventions. Excellent presentation skills demonstrated with work having a coherent and consistent structure. Sophisticated, effective and innovative expression of ideas and concepts. Impressive clarity of expression, work may be close to publishable or exhibit able quality. No errors in style and formatting. |