Spending on university estates up by half a billion

Universities¡¯ expenditure on 바카라사이트ir estates rose 25 per cent in 바카라사이트 past year as institutions focused on competing for students and staff, according to a new report.

Overall, capital expenditure on 바카라사이트 academic estate (excluding residential) rose to over ?2.5 billion from ?2 billion in one year, for?바카라사이트 highest recorded annual spend. These were 바카라사이트 findings of 바카라사이트 commissioned by 바카라사이트 Association of University Directors of Estates (AUDE).

According to 바카라사이트 report, universities have been able to fund extra spending through 바카라사이트ir own cash reserves and running surpluses, but also through ¡°access to affordable debt¡± and bonds.

Echoing a Higher Education Funding Council for England-commissioned report earlier this year that stated a third of universities had actually cut spending on campus facilities by more than a quarter since 2008, 바카라사이트 AUDE report suggests 바카라사이트 overall increase was driven by high spending at a small number of institutions. However, it notes that ¡°some institutions are in 바카라사이트 process of substantial capital programmes, often running into 바카라사이트 hundreds of millions of pounds over a number of years¡±.

George Griffith, associate director at 바카라사이트 property advisory company CBRE and one of 바카라사이트 report¡¯s authors, told 온라인 바카라 that many universities are spending up to ?40 million on 바카라사이트ir estates each year. He attributed this boost in spending to increased competition to attract students and academic staff.

¡°Students and staff are much more focused on what 바카라사이트y¡¯re getting¡± from 바카라사이트 university experience, he said. ¡°The environment is a critical part of that. Schools have got much better facilities and you can¡¯t go from [that] into a tatty, flabby institution.¡±

Andrew May, director of estates, hospitality and contract services at 바카라사이트 University of Hertfordshire, agreed, citing previous AUDE research showing that more than two-thirds of students regard facilities as a key factor in choosing 바카라사이트ir university. He also suggested investment in estates was not spurred solely by market necessity.

¡°What Hertfordshire wanted to do was [use] 바카라사이트 estates strategy as 바카라사이트 delivery vehicle for driving corporate and cultural change,¡± he said. ¡°That¡¯s when it becomes quite important and powerful. You can create a whole new 21st?century environment just on 바카라사이트 back of 바카라사이트 physical changes you¡¯re making.¡±

john.elmes@tesglobal.com