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Group Work – Investment Presentation for the Blade, Reading
XYZ Ltd plans to acquire the Blade, Reading’s most iconic building, at the end of
2023.
Picture source: https://www.loopnet.co.uk/Listing/Abbey-St-Reading/25825055/
As an investment analyst from XYZ Ltd, you are asked by the senior management
team to prepare a 10 min presentation to the board members. During your
presentation, you will explain your main assumptions of the DCF model for the
Blade, how you obtained the investment value of the project, and your
recommended bid price. You will use Land Securities or British Land’ cost of capital
as a benchmark for your investment analysis.
Your investment presentation should contain the following elements:
1. Cost of equity estimate
2. Cost of debt estimate
3. Targeted financial leverage and WACC estimate
4. DCF model with key inputs such as rental income, vacancy rate, exit yield, etc.
You should explain the relevant financial modelling methods that you used to obtain
these estimates and justify the key inputs in your models.
An excellent presentation will also contain information such as risk assessment (e.g.,
via sensitivity analysis or Monte Carlo simulations), local economic analysis (e.g.,
how will Elizabeth line influence your DCF model), asset management strategy (e.g.,
you refurbish a part of the building), and so on.
You can use the information from the group presentation materials (data extracted
in January 2023) and other sources (e.g., Costar, Yahoo finance, company annual
reports, etc. for more up-to-date information) to complete your analysis.
You will present your group’s investment analysis at the tutorial in week 5. Each
presentation will last 10 minutes, followed by a 5-minute Q&A session. There will be
a secret prize for the winner!
To register for access to CoStar Suite:
1. Email helpdesk@costar.co.uk
2. In the subject line write “University of Reading – CoStar SUITE Access Request”.
3. In the body of the email include:
full name
University email address (no other email address will be accepted)
your course name, start and end date
your tutor’s name
whether you are an UG, PG student or member of staff.
4. You will then receive an email to your University email account with your login
details and password.
5. You will then need to download the CoStar app on your phone from our app store,
as you will need to use this for verification. Please note that any requests received
after 6pm Friday will not be attended to until Monday morning 9am. For any further
queries, please email helpdesk@costar.co.uk or call 020 3205 4600.