Bayfield Training - Retail Property Investment School

Mon Nov 18 2019 at 09:00 am to Fri Nov 22 2019 at 05:00 pm
Holiday Inn - Stratford City, Chestnut Plaza, London, United Kingdom

Holiday Inn - Stratford City, Chestnut Plaza, London, United Kingdom

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Bayfield Training
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Who will benefit from this school?


Real Estate Professionals who would like to update their knowledge of the investment, performance and profit enhancement strategies of retail assets.

Shopping centre managers who would like to communicate more effectively with investors and owners on the financial impact of their management strategies.

Asset managers and fund managers who would like to understand the impact of their strategies on asset and shareholder value in a more granular and integrated fashion.

Suppliers to shopping centres to help them quantify and communicate how their product can add value.

Data companies’ providers who would like to further understand the needs of shopping centre investors in order to help them improve their service.

Analyst and modellers who would like to improve their understanding of financial models in respect of retail property assets.


 

The Retail Property School combines two courses:


Introduction to Shopping Centre Investment

Retail Property Appraisals


Note: You can also attend these courses separately. However, people attending the entire week will get £300 off and will receive the Retail Property School diploma.

OUTLINE

Day One

Retail and Shopping Centre History

Shopping Centre Definitions


Industry Definitions

Retail QuiltsTM

Creating your own definition


Revo, ICSC and other Membership, Research and Policy Bodies

Retailers, Consumers and Consumer Behaviour: Comparative study


  Retailer Classifications

  Consumer Classifications

  Operational Metrics


Footfall

Dwell

Frequency

Spend

Shopping Centre Design   

Humanics, Mechanics, Branding and Design

Design Considerations and Metrics


GLA v. GBA

Layout

Entrances

Facilities

Special Features


Game: Build your shopping centre

Day Two:


International Retail Industry

Retailers and Brands

Retail Categories Profit & Loss Statements

Key Performance Indicators

Retail Trends

Franchising  


Game: The Retail Trading Billionaire

Online Retailing


Development, Size & Structure of the Market


Retail Property Macro Economics


Global Demand and Supply

Retail Property Indicators in the global Retail Occupier, Asset and Development Markets

How retail space responds to trends


Understanding key retail lease covenants

Financial Modelling of Retail Property Assets


Retail Property Development

Retail Property Investment


Workshop: Calculate the development cost of your shopping centre

 

Day Three

Game: Lease your shopping centre

Reviewing the Leasing Strategy

Analysing the financial model of your shopping centre

Shopping Centre Ownership


   Companies, Partnerships, REITS and Joint Ventures

   Global retail property ownership and control


 

Day Four

Comparative quantitative study of 10 International Shopping Centres:


Bayfield Retail QuiltTM

Retailer Classification within sample

Catchment areas analysis within sample

Operational metrics within sample

Bottom up shopping centre definition

Analysis of vacancy and appropriateness of tenant mix

Footfall and sales data overlays

Catchment versus operational dimension analysis

Fragmentation, clustering and co-location analysis

Analysis of geometric facility

Analysis of aesthetics and design

Sustainability


Ranking the shopping centre sample

Understanding the interaction between Retail Property KPIs and their impact on asset level returns

Footfall, Threshold, Engagement and Conversion

The mathematics of optimising Retail Property KPIs

Resilience through demographic change and different stages of the business cycles

Retail Property Investment Appraisals

Using one of the 10 shopping centres above this session will create and analyse the following:


Turnover, affordability ratios and rental capture

Rental growth, inflation and fixed rents

Financial model layout

Retail Tenancy Schedules and ITZA calculations

Rent functions and rental projection

Service Charges and Operational Expenditure (OPEX) and

Capital Expenditure (CAPEX)

Project Financing

Internal Rate of Return (IRR), Net Present Value (NPV) and other metrics


Macroeconomic impacts on retail property KPIs

Sensitivity analysis and testing the impact of retail property KPIs on asset level returns

 

Day Five

In day two delegates will be guided through creating and analysing their own case study.

Delegates will be given a 60 unit shopping centre layout and 80 retailers. Delegates in teams, will then lease the shopping centre using the available tenants.

The retailers ‘played’ by the delegates are digitally captured in a tenancy schedule.

From the tenancy schedule delegates will be asked to generate a Retail Quilt in Excel

Delegates will then rank their shopping centre using the techniques learned in day one

Delegates will be required to build a rent function to project rent, complete a full project cash flow and calculate returns.

Various scenarios are presented to each of the teams who will be shown how to quantitatively answer the following:

1.    How resilient is your leasing strategy to the scenarios presented?

2.    Has your shopping centre performed within expectations?

3.    Which solutions might you propose to help maintain the value of your centre?

Delegates will have been asked prior to the course to send a shopping centre layout from a centre they manage or own or simply like the look of. A selection of these will be chosen and discussed in light of the techniques learnt over the last couple of days.
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Created By:
Bayfield Training
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