MSc Real Estate Investment Finance: Student Profile - Oliver Leeming

The Real Estate Investment Finance (REIF) programme at Oxford Brookes attracts students from across the world - bringing students together online. I caught up with Oliver Leeming who has recently completed the MSc Real Estate Investment Finance and he agreed to answer my questions...

What is your background?  
After an undergraduate degree, I joined the British Army. In 2011 I deployed on my first operational tour of Afghanistan. Two years later, as a captain, I returned to Helmand as the second in command of the Warthog Group, a 260+ strong, 33 vehicle combat group, tasked with conducting strike operations to protect the NATO withdrawal in 2014. My final role in the army, before leaving in 2016, was as Adjutant, a bit like a Chief of Staff, of a 400+ strong specialist unit back in the UK. Naturally, when you reach a certain point in your military career you must decide to stick or twist, and as I had always been interested in business, I started to explore other opportunities outside the army. I think real estate lends itself to veterans because as a soldier you need to have an appreciation for the environment around you, build relationships quickly, and manage projects efficiently – all important skills in real estate. I started my career in the industry working for a pioneering Build to Rent (multifamily) provider and that was when I decided to return to formal education. 

Why did you decide to do a course in Real Estate Investment Finance?  
Since leaving the army I have been constantly seeking to equip myself with the knowledge I need to succeed in business. The MSc in Real Estate Investment Finance has been a major part of that continuous professional development. It augments the management and leadership skills fostered in the military with a deeper understanding of real estate as a financial asset within the investment market. 

Why did you choose the MSc REIF at Oxford Brookes? 

I heard the School of the Built Environment at Oxford Brookes was one of the best in the country and I was keen to study with a globally recognized institution. Distance learning is clearly very different from a residential course, but it provided the flexibility to study around work. I knew it was a long commitment (2 years) which would require sacrifice, and this made me determined to get everything I could out of the experience. An immense motivator was that everything I learnt was directly applicable to my workday and career path. 

What did you gain from the course and how has it helped you in your career?  

The module I most enjoyed was the Real Estate Finance and Investment module because it covered financial reporting, a subject I am relatively familiar with, and introduced property business elements incrementally. I particularly enjoyed studying investment appraisals. In one of the projects, we were asked to analyse the profitability, leverage, gearing, and operational efficiency of a fictitious department store operator and provide an investment recommendation. I ended up analysing three real-life comparable operators to use as a benchmark which was fascinating given the pressure department stores have been under in the last few years. As the Business Development Director within the Valuation & Advisory Service line at CBRE it was immensely useful to be able to learn valuation concepts, standards, and techniques alongside working in the largest real estate investment and advisory firm in the world.   

What did you choose for your dissertation topic and why? 

I have followed the emergence of coworking in the office sector with interest over the last few years. Following WeWork’s IPO attempt in 2019 and a recent paper published by MIT on the financial impacts of coworking on the commercial office market in the US I wanted to apply a similar methodology to explore the impact of coworking on yields, rental prices, and market dynamics in Central London. It was fascinating. 

Thanks Oliver - to find out more about the MSc/PGD REIF and book a place on one of our REIF Online Information Sessions follow the links below:

MSc/PGD Real Estate Investment Finance - course details

REIF Online Information Session - click to book a place

MSc/PGD Real Estate Investment Finance - student profiles