Report shows 9% capital spend increase as institutions compete to attract students
Universities鈥� capital spending on their non-residential estates increased to more than 拢2bn in 2012/13, according to figures released this week.
The annual report of the Association of University Directors of Estates, compiled by CBRE, showed that capital spending increased by 9%, or 拢170m, from 2011/12 levels. The figures cover academic parts of the estate, including new builds and significant refurbishments, and exclude the sector鈥檚 sizeable residential spending.
The figures appear to reflect the anecdotal trend for universities to spend more on their estates in the hope of attracting more students. The report said: 鈥淭his is no doubt linked to student expectations as tuition fees have risen.鈥�
However, the report also warned that rising tender prices in construction 鈥渨ill have an impact on the HE sector, where either more capital will have to be found, or projects may have to be reduced in scale.鈥�
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