SPR Research Course, Bayes Business School
11-12 October 2022
After several postponements due to the pandemic, the SPR was able to hold its long delayed research course, ‘Property Research in the Real World: Practical Applications’. Twenty-one young researchers from across the industry undertook the two-day course, kindly hosted by Bayes Business School. Not only was this a great opportunity to develop their understanding of different facets of property research, but also an occasion to meet and network with other young real estate researchers. 

Split into five modules as well as a site visit and practical exercise, the course started with Andrew Smith, SPR President and CIO of Hearthstone Investments looking at how property research has evolved and helped to shape real estate markets. Andrew also discussed some of the challenges faced by researchers, what makes good research and different career paths for researchers.

In the second session, Professor Sotiris Tsolacos from Bayes Business School looked at property cycles and how real estate interacts with the real economy. Malcolm Frodsham then took participants through a session on occupier and leasing markets, how markets are measured and what should be taken into consideration when analysing different metrics. 

The first day concluded with a site visit and drinks reception at 22 Bishopsgate. Participants learnt about some of the challenges of the development and how research supported the decision-making process, before taking in spectacular views across London from the top. 

Professor Andrew Baum kicked off day two by taking participants through the investment process and different investment strategies, before Professor Yolande Barnes from the Bartlett Institute spoke about how financial, environmental, social, technological and biological factors have influenced real estate over the centuries and how they will continue influence and change real estate, and how we analyse it, in the future.

To put their new-found knowledge to the test, the course concluded with a group exercise which saw participants analyse the pros and cons of an existing asset in a portfolio before making a recommendation to their investment committee, formed of Andrew Smith and SPR Committee members Matt Soffair and Chris Dunn, on whether the asset should be retained or divested.

Hamish Smith