Real Estate Feasibility and Due Diligence Training Course

Duration 5 days 10 modules · 33 contact hours
Level Intermediate Certificate on completion
Who attends Real Estate Development Managers, Property Investment Managers and others
Fee from USD 1,100 KSh 95,000 for Kenyan organisations
Where 52 cities + online See dates by city
Next start 16 Nov 2026 Course code SD-RE-032

Before you join: Participants should have basic familiarity with real estate terminology, property transactions or development projects.

Dates & prices

Two start dates a month in every city, and live online on weekdays or weekends. Fees are per participant; classroom fees include tuition, materials, lunch and refreshments, and the certificate.

Suggest a date or city

Showing the next six months. Later dates, other cities and private deliveries for your team are available on request.

Course overview

Real estate decisions often commit substantial capital before construction begins or a purchase completes. A feasibility study must test whether a proposed scheme has a credible market, lawful development pathway, deliverable design, realistic cost plan and acceptable financial return. Due diligence must then confirm, qualify or challenge the assumptions behind the investment case. Missing title restrictions, planning obligations, utility constraints, weak rental evidence, cost escalation or debt covenant pressure can turn an apparently attractive opportunity into a loss-making project.

This course equips participants to structure feasibility studies and coordinate property due diligence for acquisitions, developments and redevelopment projects. Participants assess highest and best use, analyse market demand and comparable evidence, review title and planning matters, evaluate technical and environmental risks, build development budgets, and interpret discounted cash flow models. They test returns using NPV, IRR, residual land value, debt metrics and sensitivity analysis. The programme also covers valuation methods, risk registers, data-room controls, red-flag reporting and investment committee recommendations.

Teaching combines focused briefings with property cases, financial model reviews, group analysis and decision simulations based on realistic development and acquisition scenarios. Participants work through the evidence expected by lenders, investors, developers and corporate occupiers, including conflicting market data and incomplete technical information. They leave with a reusable feasibility and due diligence pack containing a study brief, diligence workplan, financial model structure, risk register, red-flag report format and investment recommendation template.

The course is suited to professionals who contribute to property investment, development, lending, valuation, asset management or project approval decisions. It is delivered over five days in the classroom in 50+ cities or live online, with approximately 6.5 contact hours each day. Participants receive a certificate of completion.

What you will be able to do

  • Define a feasibility study scope, investment thesis and decision-gate structure
  • Assess market demand, comparable evidence and absorption assumptions for proposed schemes
  • Conduct structured title, planning, environmental, technical and utility due diligence
  • Build a development budget and residual land value calculation
  • Interpret discounted cash flow outputs, IRR, NPV and debt coverage metrics
  • Apply sensitivity analysis, scenario testing and risk-register controls to investment cases
  • Evaluate property value using income, sales comparison and cost approaches
  • Prepare a red-flag report and investment committee recommendation

Benefits of attending

For you

  • Assess whether a proposed property scheme meets stated investment hurdles
  • Challenge unsupported assumptions in acquisition and development appraisals
  • Identify title, planning and technical issues before they become costly commitments
  • Present feasibility findings clearly to lenders, investors and approval committees
  • Use a structured evidence trail for property investment recommendations

For your organisation

  • Improves consistency of feasibility studies across property acquisitions and developments
  • Reduces exposure to untested planning, title, utility and construction risks
  • Strengthens underwriting evidence for lending and investment approval decisions
  • Produces clearer conditions precedent, remediation actions and transaction protections
  • Supports better capital allocation through documented downside and sensitivity testing

Course modules

10 modules over 5 days

Participants can define a feasibility brief linked to a clear investment decision.

  • Defining the investment thesis, decision gates, and feasibility study scope
  • Sponsor objectives translated into measurable development, return, risk, and timing criteria
  • Highest and best use tested through legally permissible alternatives
  • Site constraints mapped from title, access, utilities, and planning evidence
  • RIBA Plan of Work stages aligned with investment approvals
  • Feasibility brief separating assumptions, evidence, sensitivities, and decisions

Participants can form market assumptions using demand, supply and transaction evidence.

  • Catchment definition using drive-time, demographic, and competing-supply evidence
  • Demand analysis distinguishing gross demand, effective demand, and absorption
  • Comparable evidence screened for date, quality, incentives, and relevance
  • Market segmentation by tenant, buyer, unit type, and price point
  • Absorption schedules derived from pipeline supply and transaction velocity
  • Rental and sales forecasts reconciled with comparable and macroeconomic evidence

Participants can identify legal, planning and site-control issues affecting project viability.

  • Title review identifies ownership, easements, covenants, charges, and restrictions
  • Land registry records matched against survey boundaries and possession
  • Planning status tested against zoning, density, height, and use controls
  • Environmental screening covers contamination, flood, heritage, and protected habitats
  • Utilities due diligence assesses capacity, connection costs, and delivery lead times
  • Access, rights-of-way, and off-site infrastructure obligations quantified

Participants can assess technical findings and their effect on design, cost and programme.

  • Survey scopes distinguish desktop findings from intrusive investigation requirements
  • Condition surveys assess structural defects, MEP systems, and lifecycle exposure
  • Concept design tested against net-to-gross efficiency and accommodation schedules
  • Quantity surveyor cost plan structured through elemental cost categories
  • Construction programme identifies critical path, procurement route, and contingencies
  • Climate resilience assessed for heat, flood, water, and energy risks

Participants can develop realistic cost and programme assumptions for property appraisals.

  • Development budget separates land, hard costs, soft costs, finance, and contingencies
  • Residual land value calculated from gross development value and target profit
  • Cost estimates benchmarked by unit, area, and functional component
  • Procurement routes compared for price certainty, speed, and design control
  • Inflation allowances and escalation indices incorporated into phased cost forecasts
  • Milestone schedule links permits, construction, sales, leasing, and cash requirements

Participants can interpret the financial outputs used to approve real estate investments.

  • Unlevered discounted cash flow model built from development and operating assumptions
  • Net operating income derived from rental income, vacancy, and operating expenses
  • IRR, NPV, equity multiple, and yield metrics interpreted correctly
  • Debt sizing tests loan-to-cost, loan-to-value, DSCR, and interest coverage
  • Waterfall cash flows allocate distributions between equity partners and sponsors
  • Exit value estimated using terminal yield, stabilised income, and selling costs

Participants can quantify downside exposure and assign practical risk responses.

  • Base case assumptions documented with source, owner, date, and confidence rating
  • One-way sensitivity tables test rents, costs, yields, timing, and interest rates
  • Two-way scenarios expose combined downside from delayed delivery and weaker pricing
  • Break-even analysis identifies minimum sales price, occupancy, and absorption requirements
  • Monte Carlo simulation concepts distinguish probability ranges from arbitrary contingencies
  • Risk register assigns likelihood, impact, mitigation, owner, and review date

Participants can manage diligence evidence, material findings and transaction conditions.

  • Due diligence workplan assigns streams, evidence requests, owners, and deadlines
  • Data room index controls document versions, access permissions, and audit trail
  • Materiality thresholds distinguish decision-critical findings from routine observations
  • Red flag reports state issue, consequence, recommendation, and unresolved evidence
  • ISO 31000 risk treatment options inform acceptance, transfer, mitigation, or avoidance
  • Conditions precedent and closing deliverables tracked through transaction checklists

Participants can assess valuation evidence and reconcile it with investment underwriting.

  • Income approach values stabilised assets using market rent and capitalisation rates
  • Sales comparison adjustments address location, tenure, condition, size, and timing
  • Cost approach applies replacement cost, depreciation, and external obsolescence
  • RICS Red Book principles distinguish valuation advice from feasibility conclusions
  • Independent valuation assumptions challenged against underwriting and market evidence
  • Acquisition price reconciled with residual value, comparables, and investment hurdles

Participants can prepare decision-ready findings, conditions and follow-up actions.

  • Investment committee papers connect findings, valuation, risks, and recommended conditions
  • Executive summaries distinguish facts, assumptions, uncertainties, and management actions
  • Go, revise, defer, or reject decisions tied to explicit thresholds
  • Negotiation priorities derived from diligence findings, valuation gaps, and risk allocation
  • Post-acquisition action plan assigns remediation, permits, financing, and monitoring
  • Stakeholder communications tailor evidence for lenders, boards, partners, and regulators

Exercises and examples are adapted to each cohort's sectors and roles.

What you take back to work

  1. Feasibility study brief template
  2. Real estate due diligence workplan
  3. Development appraisal model structure
  4. Sensitivity analysis matrix
  5. Property transaction risk register
  6. Investment committee recommendation template

Who should attend

  • Real Estate Development Managers — assess scheme viability before land acquisition and project approval
  • Property Investment Managers — test acquisition assumptions, pricing and downside exposure
  • Commercial Bankers and Credit Analysts — review property underwriting and lender protections
  • Asset Managers — evaluate redevelopment, disposal and repositioning proposals
  • Valuers and Property Analysts — connect market evidence with investment feasibility conclusions
  • Project Managers and Quantity Surveyors — identify delivery risks affecting cost, programme and return

Skills and tools covered

Feasibility study designProperty due diligenceDevelopment financial modellingResidual land valuationInvestment risk analysisDecision paper writing

Tools and standards

RICS Red Book Global Standards, International Valuation Standards, ISO 31000, RIBA Plan of Work

How the course runs

Training methodology

The course uses short instructor briefings to establish the analytical methods, followed by property cases, group exercises, appraisal reviews and decision simulations. Participants examine market comparables, planning evidence, cost plans, cash flows and diligence findings from development and acquisition scenarios. Facilitated discussions focus on the judgement required when evidence is incomplete or conflicting. Application planning helps participants adapt the study structure, risk controls and reporting formats to their own project pipeline, approval process or lending requirements.

Requirements and prerequisites

Participants should have basic familiarity with real estate terminology, property transactions or development projects. Experience reading budgets, lease data, valuation reports, project programmes or investment papers is useful. The course assumes confidence with percentages, discounted cash flow concepts and spreadsheet-based calculations, although participants do not need to build advanced models from scratch. Prior experience in valuation, lending, architecture, legal practice or quantity surveying is not required. This is not a substitute for jurisdiction-specific legal, tax, engineering or valuation advice.

A typical training day

08:30 – 10:30First session
10:30 – 10:45Refreshment break
10:45 – 12:30Second session
12:30 – 13:30Lunch and networking
13:30 – 15:00Third session
15:00 – 15:15Refreshment break
15:15 – 16:30Workshop and daily review

Live online deliveries follow the same structure in East Africa Time, with shorter screen blocks and longer breaks.

What the fee includes

  • Instruction by a practitioner facilitator
  • Full course workbook and materials
  • Exercise files, templates and case studies
  • Refreshments and lunch on classroom deliveries
  • Certificate of completion
  • Post-course application plan

Frequently asked questions

Participants should understand basic property, finance or project terminology and be comfortable with percentages and spreadsheet calculations. Prior valuation, legal, engineering or investment banking experience is helpful but not required.

Bring a laptop if possible, especially if attending live online, and a calculator if you normally use one for financial work. Participants may also bring a non-confidential project scenario to use during application planning.

It suits development, investment, lending, asset management, valuation, project management and property advisory professionals. It is particularly useful for people who review or prepare project approval papers.

Financial modelling is one important part of the programme, but the course also addresses market, legal, planning, technical, environmental and transaction due diligence. It focuses on deciding whether evidence supports an investment decision, rather than only constructing spreadsheet models.

Participants can use the feasibility brief, diligence workplan, risk register and red-flag report formats on live projects. The methods help them challenge assumptions, structure evidence requests and present clear conditions for approval.

The five days provide approximately 32.5 contact hours, normally from 08:30 to 16:30 each day. Time is divided among feasibility methods, market and site analysis, financial appraisal, diligence controls, valuation review and approval reporting.

Questions about this course?

Ask about dates, fees, group bookings or running it for your team. Our training team replies by email.