An introduction to the Target Return (sometimes known as required return) and its role in real estate Investment Worth analysis.

Learning outcomes

• Understand what the Target Return represents in Investment Worth analysis
• Distinguish the Target Return from Market Yields, discount rates, and IRR hurdle rates
• Learn why Worth analysis begins with a single, portfolio-level required return
• Recognise how the Target Return anchors the comparison between Worth and Market Value

Description
Investment Worth is a tool for evaluating whether:

• the market price offers sufficient return relative to the investor’s required return,
• the investor is overpaying or under paying relative to their objectives.

Worth is therefore a private, investor specific calculation that is not intended to match Market Value.

The Target Return is the anchor for this comparison by providing the investor-specific rate used to discount expected cash flows under Worth analysis.

Why many risks affect the expected cash flow, not the Target Return.

Learning outcomes

• Identify the difference between diversifiable and structural risks
• Understand why renewal probability, default risk and reletting periods belong in the cash flow
• See how an expected cash flow already captures diversifiable uncertainty
• Learn the baseline rule: no Target Return adjustment is required for diversifiable risk

Description
Investment Worth is based on expected cash flow, which incorporates:

• expected rental growth,
• expected renewal probabilities,
• expected letting periods,
• expected tenant default rates.

Worth uses probability weighted expectations: therefore diversifiable risks are reflected in the cash flow, not in the discount rate.

A single Target Return can therefore be applied across assets unless there is a structural difference in income security or risk.

How structural differences in income security justify changes in required return.

Learning outcomes

• Understand which risks truly justify a Target Return adjustment
• See why the unexpired lease term, letting periods and covenant strength affect Target Returns
• Learn how shorter leases lead to higher expected return volatility

Description
Worth analysis should reflect the investor’s own risk appetite and portfolio context.

This means the Target Return typically reflects:

• the investor’s overall return objectives,
• their tolerance for systematic market risk,
• their capital structure and cost of capital,
• their investment horizon.

Worth analysis should reflect the investor’s own return objectives and portfolio context.

Structural differences in income security—such as shorter unexpired lease terms, weaker covenants, or higher exposure to market timing—can justify adjusting the Target Return.  These risks cannot be diversified away and therefore require a higher (or occasionally lower) required return.

The Target Return should therefore be adjusted only when structural differences in income security lead to materially different return volatility from the portfolio baseline.

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Before analysis comes preparation. In this session, we’ll take a raw tenancy schedule and learn how to clean, reshape, and organise it using Power Query in Excel and Power BI. You’ll see how to remove errors, work with dates and currencies, and set the foundation for high-quality real estate analytics.

George Mount is the founder and CEO of Stringfest Analytics, a consulting firm specialising in analytics education and upskilling. He has worked with leading bootcamps, learning platforms, and practice organizations to help individuals excel at analytics.

Once your data is clean, it’s time to explore. This session walks through building relationships, creating calculated columns and measures, and uncovering insights into occupancy, revenue, and lease performance. You’ll learn key DAX concepts and visualisation techniques for property-level insights.

George Mount is the founder and CEO of Stringfest Analytics, a consulting firm specialising in analytics education and upskilling. He has worked with leading bootcamps, learning platforms, and practice organizations to help individuals excel at analytics.

Finally, we’ll bring it all together into a polished, interactive dashboard. Using the cleaned and modelled dataset, we’ll create visual KPIs, timelines, and filters that help decision-makers quickly assess performance across properties, tenants, and time periods.

George Mount is the founder and CEO of Stringfest Analytics, a consulting firm specialising in analytics education and upskilling. He has worked with leading bootcamps, learning platforms, and practice organizations to help individuals excel at analytics.

Most property professionals know AI exists but aren’t sure where to start. In this 20-minute session, Teddy James demonstrates practical AI workflows you can implement immediately — from analysing rent rolls to drafting client communications. No coding required, just real examples from real deals.

Teddy James is a real estate investment professional with 8+ years of experience, including 4.5 years at single-family offices such as Weybourne (the Dyson family office). Prior to that, he worked in indirect real estate fund of funds and REIT investments at LaSalle Investment Management and Aviva Investors.

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This session introduces ‘vibe coding’ –  the latest buzzwords to describe using AI to write code. We will look at currently available tools, give a brief tutorial on how to get started and explore the question of whether it is possible to build fully functioning apps without knowing how to code.

A tutorial demonstrating how to use vibe coding to build a basic real estate analysis web app.

Looking at options for building a more complex ‘full stack’ tool with a web based front end and python backend.

This webinar will cover how to use body language that commands respect, develop a strong and clear voice for financial presentations, and handle tough questions with confidence and assertiveness. You will also learn practical techniques to appear calm and self-assured under pressure.

This webinar offers a comprehensive introduction to the essential concepts of social and environmental sustainability in commercial real estate. We will explore the evolution of the sector—from the foundations of ESG integration to the key drivers that have shaped today’s market expectations. Participants will gain a clear understanding of where the industry stands, the factors that have brought us here, and the emerging trends, resilience factors, risks, and opportunities likely to define the future of commercial real estate.

In this webinar, we dive into the growing influence of artificial intelligence and the smart use of PropTech within the built environment. We will discuss how data, automation, and smart technologies are revolutionising the measurement of environmental and social impact. The session will also explore how assets, real estate operators, and investors can ensure profitability, resilience, and long-term value creation by leveraging technology. Expect practical examples and forward-looking insights into the digital transformation of sustainability.

In this webinar, we will review how evolving regulations and insurance frameworks are reshaping the risk landscape for real estate and hospitality assets. We will unpack the implications of reporting requirements, data management, climate-related insurance pressures, and shifting investor expectations. Most importantly, the webinar will highlight how proactive business strategies can transform asset risks into meaningful value creation. Participants will leave with a clearer understanding of how to anticipate change, protect asset performance, ensure compliance, and strengthen market positioning.

This webinar slot is available