If you work in real estate investment, asset management, or finance, understanding how to model a commercial lease is an essential skill.
This course shows you exactly how to build and analyse commercial lease cash flows in Excel – clearly, logically, and with a structure you can reuse across multiple deals.
We’ll cover the full lease lifecycle, from start to expiry (and everything in between). You’ll learn how to handle rent-free periods, lease breaks, rent reviews, voids, reletting assumptions, capital incentives, and stepped rents. You’ll also calculate metrics like WAULT, physical and economic occupancy, net-to-gross ratio, and discounted cash flow.
Throughout the course, you’ll be shown not just what to build – but why it matters. You’ll be taught how each element flows through to your cash flow, your valuation, and ultimately your investment decisions.
This is a practical, real-world course, based on how leases are actually structured in the market. It’s suitable for:
- Analysts building models from scratch
- Asset managers reviewing and adapting models
- Investors and lenders who want to understand the numbers behind the leases
By the end of the course, you’ll know how to:
- Build a flexible tenancy schedule with multiple lease layers
- Model lease breaks, incentives, and future scenarios
- Analyse how different assumptions affect your cash flow and valuation
- Create a one-page dashboard to summarise key metrics and risks
- Use Excel tools like INDEX, MATCH, SUMIFS, and data tables with confidence
