RE3IRAS: Investment in Rural Assets

Module code: RE3IRAS

Module provider: Real Estate and Planning; Henley Business School

Credits: 20

Level: 6

When you'll be taught: Semester 2

Module convenor: Mrs Angela Cropley, email: a.cropley@henley.reading.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: na

Academic year: 2024/5

Available to visiting students: No

Talis reading list: Yes

Last updated: 19 November 2024

Overview

Module aims and purpose

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 technical knowledge in various areas, 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. 

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 developers. 
• 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. 

Module learning outcomes

By the end of the module, it is expected that students will be able to: 

1. Evaluate the varying strategic influences on rural property investment, management and disposal, including the key role of owners’ objectives. 
2. Apply analytical techniques and problem-solving skills to formulate strategic plans for rural investors and demonstrate how to implement them. 
3. Examine the increasing importance of diversification, sustainability and community engagement on rural asset management. 

Module content

• Rural land ownership and occupation 
• Asset management and exploitation 
• Influences on rural asset investment, management and disposal 
• Appropriate investment vehicles 
• Analysis of financial performance and risk 
• Rural planning and development 
• Diversification of rural asset portfolio 
• Sustainability and community engagement 
• Capital taxation and tax planning 
• Formulation and implementation of strategic plans 

Structure

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. 

Study hours

At least 30 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 40% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

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. 

Reassessment

Additional costs