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Research and Prepare a bid.
The calculation part as appendix to the main report
Research and Prepare a bid.
The calculation part as appendix to the main report must be in Excel format, the main report may be in a separate sheet in Excel, or in Word format in another file. There are two submission links for each assignment, you may submit only 1 Excel file, in which case you only use the first link; you may also submit 2 files, e.g. one for Word report; the other for Excel appendix on calculation, in which case you use the first link for Word file submission and the second link for Excel submission.
3) The submission link has two parts, you may submit either 1 file (must be in Excel) in which case you use part 1 submission link only; you may also submit 2 files (main report in Word and appendix in Excel), in this case you use both parts in the submission link.
4) The submission must be written in the third person throughout (use of I, me, my, you, your, etc. are not to be used).
5) Students must proofread their work before submission for good grammar, use of English, choice of words and spelling.
6) The assignment shall be submitted no later than 23:59 Sun 17 Dec 2023 UK time
BRIEF
In week 11 of the module – you have been asked to research and prepare a bid for the care home site located to the west of Grantham Road in Navenby. The development has received outline planning approval. The management Board has requested for this particular proposal recommending the maximum bid price with detailed financial breakdown. You should include in your report:
• An introduction of the land and proposed project. (10 marks)
• The recommended maximum bid for the land, showing detailed financial appraisal and assumptions (e.g. the development & operation program, construction costs, per week per person rental cost, operational & maintenance cost, etc.); note that you are not submitting the bid, you are reporting to the management board recommending the maximum bid. (45 marks);
• A sensitivity analysis of Internal Rate of Return against stepped changes in land price and per week per person rental cost (15 marks)
• The major risk factors with reasoning that relate to your recommended bid value for the site. (20 marks)
2
Please note:
• The submissions should be presented in the form of a report that would be presented as a Board level meeting briefing paper, which would enable the Board members to distil key information quickly and make a decision based on the facts and risks detailed in the report;
• There is no word count for this assignment as you may wish to submit this using a variety of formats including using procedures and systems within your workplace.
• 10 marks are allowed for English, format and presentation of the report;
• The level of detail in the financial appraisal shall be appropriate to the level of information contained within the documentation; e.g. plan & sizes of different accommodation has been indicated, therefore a different per week per person rental cost should be used for bungalows and self-contained bedrooms;
• Your bid should be on the basis of running the site for 30 years; therefore you should use a combination of residual method and investment method, with reasonable assumptions on development & operation program, this can be done (you may use other suitable methods) in the following steps:
i. Work out Capital cost in development period, by assuming a suitable land value, estimating construction costs and other costs;
ii. Work out operational income for each year in the operational period, by assuming a suitable care rental income (per week per person), a suitable occupancy ratio and multiplying by the number of cared tenants, or other suitable methods;
iii. Work out operational & maintenance expenses for each year in the operational period, by assuming a suitable rate either per person or per m2 of GIFA, or as a percentage of rent, or other suitable methods (the expenses shall cover food and care staff cost).
iv. Work out disposal income & cost at the end of the 30 years period, by assuming the whole development is sold to an investment fund at an appropriate price (obtained by dividing the net annual income with a suitable yield);
v. Calculate the net cash flow for each year and then the Internal Rate of Return (IRR) for this cash flow pattern;
vi. Use the Excel’s Table function to obtain a sensitivity analysis for IRR by changing the land values and per week per person rental cost (for self-contained bedrooms) in appropriate steps (a total of 5 steps will suffice);
vii. Outline the ranges of minimum acceptable IRR in the sensitivity analysis, and recommending the maximum land price the company should offer;
• In this assignment, you can assume all capital costs are funded by the company, and therefore there won’t be interests payable to the bank
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