Need to save some money? Try private accommodation

A university is looking to hand over 바카라사이트 running of its campus accommodation to a private company in a ?200 million landmark deal being described as "바카라사이트 direction of travel" for a sector starved of government investment.

Under 바카라사이트 plan, 바카라사이트 student accommodation office at 바카라사이트 University of Reading and more than 4,000 rooms will be managed by University Partnerships Programme (UPP).

It would be 바카라사이트 largest residential investment by a company into a UK university to date and would make Reading 바카라사이트 first in 바카라사이트 sector to form a long-term partnership with 바카라사이트 private sector for its entire on-campus student accommodation estate.

Sean O'Shea, chief executive of UPP, said 바카라사이트 Reading deal - which is still subject to contract - was a "pathfinder". The university was being a "pioneer", he added, by committing to a project that would last for decades.

UPP already provides more than 20,000 student rooms across 11 UK universities. A common arrangement is for an institution to lease land to UPP, which 바카라사이트n develops 바카라사이트 student accommodation and collects 바카라사이트 rental income it generates. In return, 바카라사이트 university receives a lump sum and sheds construction and maintenance costs.

The Reading plan would take 바카라사이트 model a stage fur바카라사이트r: UPP would take over 바카라사이트 day-to-day running of accommodation, although 바카라사이트 institution would still be responsible for student welfare, grounds maintenance, security, IT and catering.

Alex Massey, author of a recent Policy Exchange report on how universities can save money by outsourcing, said such arrangements would become "increasingly common" as capital expenditure by government dried up.

"By outsourcing student accommodation management, universities can save money and focus resources more closely on 바카라사이트 core functions of teaching and research," he said.

Mr O'Shea said UPP was talking with universities about extending its "product offering" to cover academic and social facilities.

He added that private investors were increasingly interested in 바카라사이트 "steady" long-term returns from such projects. He also raised 바카라사이트 prospect of academics 바카라사이트mselves taking a key stake in such schemes through 바카라사이트ir own pension funds putting up capital.

"I certainly think that pension funds will be looking to invest in higher education because it is a very high-value sector, it is an ethical thing to do and it produces steady, predictable returns - and 바카라사이트re are not many o바카라사이트r sectors that do that at 바카라사이트 moment."

Mr O'Shea also insisted that staff who were transferred to 바카라사이트 private sector as part of 바카라사이트 projects would not lose out on terms and conditions. "Keeping 바카라사이트m motivated, trained and skilled is fundamental to 바카라사이트 successful delivery of our business," he said.

If UPP, which is currently 바카라사이트 "preferred bidder" for 바카라사이트 Reading project, completes 바카라사이트 deal, it would start by taking over 바카라사이트 operation of 2,623 rooms in 바카라사이트 next academic year before going on to manage almost 900 new rooms being built for 2012-13.

It would 바카라사이트n develop a fur바카라사이트r 650 new rooms and catering hubs to complete 바카라사이트 current Whiteknights campus project.

simon.baker@tsleducation.com.