What to take into your next appraisal
- EstateMaster and ARGUS Developer are separate Altus products.
- Document custom formulas, workbook links and reporting dependencies before evaluating a move.
- Test a supported import and a meaningful scenario; do not assume every file or customisation will transfer.
What this comparison covers
This comparison brings together the linked vendor product information and Feasly’s available workflows. It is not an independent benchmark. Compare the edition, access and commercial terms you would use, and ask each provider to demonstrate the methods your project needs.
The comparison concerns ARGUS EstateMaster’s development workflows. It does not describe ARGUS Developer as a renamed EstateMaster product, and it does not substitute for a review of your particular version and modules.
Sources: Altus Group: ARGUS EstateMaster product information and FAQ
Compare the workflow, not just the interface
| Decision | ARGUS EstateMaster | Feasly |
|---|---|---|
| Working with existing models | A spreadsheet-style interface and Excel connections support flexible modelling. | Supported file workflows make an existing case a starting point. Reconcile the import and check editable areas before adopting it. |
| Financial analysis | The DF training scope includes profit, residual land value, IRR, NPV, financing and risk analysis. | The Calculation Engine supports financial modelling; the public UK case provides inspectable monthly outputs and scenario results within its stated scope. |
| Moving beyond initial appraisal | Separate DF, DM and Corporate Consolidation modules cover different stages of work. | Keep scenarios, documents and review with the workspace. Confirm any monitoring or portfolio requirement against current availability. |
| Connections | Altus lists accounting, CRM, Excel and Word integrations. | Excel add-in testing and scoped engine integration discussions are distinct from the current web workspace. ChatGPT is a private preview. |
| Adoption | Confirm the modules and subscription offered for your team. | Confirm methods, file compatibility, access and support using a representative assignment. |
Sources: Altus Group: ARGUS EstateMaster product information and FAQ; Altus Group: EstateMaster Development Feasibility training agenda; Feasly: Feasly Calculation Engine; Feasly: Supported file workflows and current limits; Feasly: Financial modelling workspace; Feasly: Feasly in ChatGPT: private preview
When Feasly is a useful alternative
Feasly’s case is strongest when the friction sits between tasks: receiving a model, understanding its assumptions, investigating a question and carrying the result into a review. Keeping that work together can matter more than reproducing the appearance of the starting spreadsheet.
For example, ask for a demonstration that opens your supported source case, identifies the inputs you can change, saves a higher-cost scenario and shows its financial consequences while retaining Base. Have a second reviewer reopen it and explain the difference. That tests the product outcome you would be buying.
The ChatGPT private preview adds a further route into the same saved workspace. Use it to create models, import supported files, edit assumptions and compare separate scenarios. Preview access is limited; public directory publication is still pending.
Sources: Feasly: Supported file workflows and current limits; Feasly: Financial modelling workspace; Feasly: Feasly in ChatGPT: private preview
When staying with EstateMaster may make sense
If your team relies on customised worksheets, established Excel links or a particular development-management process, those dependencies belong in the decision. A replacement should support the required work or make an acceptable change to it. Familiarity and an established review process also have value.
Do not infer that a new interface automatically gives a better appraisal. Check the cost definitions, calculation periods and financing basis first. A difference in results may reflect a different assumption or method rather than a defect.
Sources: Altus Group: ARGUS EstateMaster product information and FAQ
A practical evaluation for an EstateMaster user
Take a completed case that your team understands. Record its reporting date, currency, units, assumptions, customisations and linked workbooks. Specify which outputs must be retained and who signs off the comparison.
- Check the starting data and monthly cash flow before making changes.
- Identify source-controlled or unsupported inputs instead of treating them as editable.
- Run a cost change and a programme change as separate scenarios.
- Inspect peak funding, profit and returns on a consistent basis.
- Agree how the team will share, review and export the work after the demonstration.
Sources: Feasly: Supported file workflows and current limits; Feasly: Feasly Calculation Engine
Inspect a calculation before booking a demonstration
The worked UK appraisal publishes five cases and their source inputs and outputs. In its delay case, peak equity rises from £6.77m to £7.80m while profit stays unchanged because the stated costs are held constant. It shows why a profit-only comparison is incomplete.
This is a fictional, all-equity case before corporation tax. It is evidence of the calculation shown, not a claim that an EstateMaster file will produce identical results. Use your own supported model to evaluate the workflow that matters to you.
Sources: Feasly: A worked UK development appraisal with downloadable calculations
Sources and further reading
- ARGUS EstateMaster product information and FAQ Altus Group
- EstateMaster Development Feasibility training agenda Altus Group
- Feasly Calculation Engine Feasly
- Supported file workflows and current limits Feasly
- Financial modelling workspace Feasly
- A worked UK development appraisal with downloadable calculations Feasly
- Feasly in ChatGPT: private preview Feasly
Published by Feasly. How we prepare our guides. Suggest a correction.
