Retail Property Appraisals
If you already have the skills from our Real Estate Analyst course, then why not challenge yourself to more on our Retail Property Appraisals course?
Retail property models are some of the most difficult to master. The key reasons are:
- A greater number of lease terms
- More ways of calculating rent
- A larger number of tenants in a single building
- More detailed cost sharing agreements
Learn how to build a Retail Property cash flow model. This course takes delegates step by step through the creation of a full shopping centre cash flow model. As a modelling course it is almost entirely Excel based. The course starts by analysing the variables that influence shopping centre investment returns. Delegates will calculate Key Performance Indicators (KPIs) that can be shown to influence the financial model from Tenancy through to Risk.
This course is CPD accredited.
Suitability - Who should attend?
Who will benefit from this course?
- Fund managers who have done the Analyst course and need to be able to understand and model sophisticated Retail assets
- Analyst and modellers who would like to improve their understanding of financial models in respect of retail property assets
- Mid-level to senior Real Estate Analysts who would like to advance their financial modelling skills
Training Course Content
Retail Property Models
- What makes retail property models unique?
- Input Variables and the Profit Cycle
- Financial Model Layout and Design
- Understanding the nature of Retail Property Cash Flows
Advanced Cash Flow Modelling
- Internal Rate of Return (IRR), Net Present Value (NPV) and other metrics
- The three Rent Function methods
- Logic Functions and Arrays
- Multi-let Cash Flows
- Multiple and Period Varying Growth Rates
Retail Property Rent Functions
- Common Retail Property Lease Covenants
- Retail Tenancy Schedules
- Zone A calculations
- Turnover, affordability ratios and rental capture
- Rental Growth, inflation and fixed rent
- Rent Functions and Rent Projection
Analysing the Tenancy Schedule
- Hypothetical study of ‘The Galleries’ Shopping Centre
- Unit Plan and Micro Location
- Using Excel as a database and linking to external data sources
- Data visualisation methods
- The Bayfield Retail Quilt (Tenant Mix Analysis)
- Lease Expiry Profiles and Event Analysis
Round up and Conclusions of Day One
Shopping Centre Portfolio Case Study
- Choosing the Retailer Classification
- Cross Referencing Consumer Classification
- Completing the Tenancy Schedule
- Generating Typologies from tenancy schedules
Rent Functions for Shopping Centres
- Breaking Complex rent functions from existing models
- Planning the rent function
- Events and Rents Table formulae
- Full Rent Function
Full Project Cash Flow
- Scenario Testing and Risk Analysis
- Building a rent function for the case study shopping centre
- Testing the rent function
- Creating CAPEX and OPEX functions for the case study
- Calculating IRR, NPV and other Investment Metrics
- Testing the IRR for errors
Footfall and Performance Metrics
- Destination capacity calculations
- Footfall Signatures
- Peak hour performance
- Performance Metrics
Round up and Conclusions of Day Two
This Retail Property Appraisals course is available to participants at £2,650 + VAT*.
*Price for a place on public course in the UK. Please enquire for prices relevant to other locations.
If required, the training is also available as an in-house course. Please contact Bayfield Training for more information.
Bayfield Training is a prominent global supplier of investment grade Real Estate executive education. Having begun as pioneers in the field of Real Estate Financial Modelling, today Bayfield has a huge extended network of experts, specialists and professionals within this...
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