Latest news with #studentAccommodation
BBC News
6 hours ago
- Business
- BBC News
Student housing plan for 18th Century building to be considered
Plans to convert a vacant 18th Century building and an office block in York into student accommodation are to be considered by councillors later this Residences UK wants to adapt the Grade II listed property in Main Street, Heslington, and an adjacent office building, known as The said the plan aimed to meet future demand for a forecasted shortfall in student accommodation, but Heslington Village Trust said the scheme threatened the area's quiet, rural plans, which have attracted 19 objections, are set to go before City of York Council planners on Thursday. The applicant's agent, O'Neill Associates, stated the plan to convert the buildings into four clusters, with 17 bedrooms overall and eight studio apartments, would allow existing buildings to be viably re-used after alternative uses had been deemed objectors to the scheme claim the development could cause parking problems, noise from its residents and conflict with the character of the village.A previous decision on the application in March was deferred to seek further clarity on campus-based student accommodation at the University of York and the marketing of the to the Local Democracy Reporting Service a council report on the plans, following the previous meeting, stated there was currently no unmet demand for housing that the university needed to it added that because the site was classed as being on the university campus, there was no requirement to address a potential loss of an employment site. Listen to highlights from North Yorkshire on BBC Sounds, catch up with the latest episode of Look North.
Irish Times
5 days ago
- Business
- Irish Times
UCD earned €42.8m from on-campus student accommodation last year
UCD netted €42.83 million from its on-campus student accommodation blocks, the largest such income across higher education institutions in the country. While down slightly from the €43.98 million revenue the university made in 2023, the accommodation income helped the university record a €34.5 million surplus for the year ending September 30th, 2024. The university's total revenue reached €848.4 million in 2024, a 12 per cent increase on the previous year. The institution credited the growth to increased research income which grew €16.1 million to €130.3 million and 'a very welcome increase' in government support under the Funding the Future scheme of €21.2 million to €124.7 million. A rise in student numbers led to student fee income rising by €9.8 million, to €301.4 million, a continuation of the trend which has seen student numbers increase by 30 per cent over the past 12 years. READ MORE [ Trinity College records €50.2m surplus as investment re-evaluation boosts bottom line Opens in new window ] Increasing 12.6 per cent, UCD's total expenditure hit €813.8 million, driven by a €45.1 million rise in staff costs due to a recruitment drive. Increased operating costs, which 'reflects an increase in costs associated with digital transformation, research expenditure and training and development' also drove the increase. UCD's borrowings increased to €454.6 million, as a result of drawing down on a €350 million term loan facility from the European Investment Bank to support the development of capital projects such as the construction of its new Centre for Future Learning and a more than €87 million development of its sports facilities . Consequently, its bank and cash balances reached nearly half a billion, €481.9 million. Following an assessment, UCD found that €1.46 million in expenditure was not compliant with public-sector procurement regulations during the financial year. The university paid a total of €21.56 million on external consultancy and advisory fees for the financial year, largely driven by work on capital projects and transformation costs. A further €217,443 was paid out by the university on legal settlements. UCD made €23.56 million from medical testing, a slight decrease from the prior year, in which it recorded revenues of €23.94 million. According to the accounts, the college's best-paid employee is not the university president Orla Feely on a salary of €238,993: a further employee receives a salary of between €340,001 and €350,000. UCD has total staff costs of €455.9 million across its 6,139 employees. More than 200 employees are paid a salary in excess of €150,000.
Daily Mail
12-05-2025
- Business
- Daily Mail
EXCLUSIVE Demand for student digs and plush offices helping buoy commercial property 'revival'
Demand for student accommodation and high-quality sustainable office space is fuelling a commercial property 'revival' in Britain, new research claims. Having grappled with inflationary pressures, a 'punitive tax regime' and new development regulations, commercial real estate is 'turning a corner', exclusive dat from Together shows. Together said its average customer commercial loan size in the year to date was £252,707. More than 80 per cent of property professionals, investors and developers surveyed said they believed investing in purpose-built student accommodation over the next five years represented a 'good opportunity.' Around 18 per cent of those surveyed said they expected to boost their revenue from student accommodation investments by between 11 and 20 per cent in five years. One in 10 said churning money into student accommodation would help them boost their revenue by between 31 and 40 per cent within the next five years, Together said. It said in its latest Cities in focus 2025: Commercial property insights report: 'At a time when universities are struggling to manage and government funding has been frozen, the private sector is being increasingly relied on to meet the shortfall. 'Even with a recent dip in student dorm reservations, demand is still high for student accommodation, particularly purpose-built student accommodation.' Honing in on demand for student accommodation in the city of Manchester, Together said: 'With currently 2.5 students per bed, demand for the vital rental accommodation is set to see further opportunity-seeking investors get involved in the sector.' It said the average monthly private rent in Manchester currently stands at £1,310, having risen significantly in the last decade or so. Demand for houses in multiple occupation and co-living spaces was also helping buoy the sector, Together claimed. Conversely, Together said the most common reason for buy-to-let landlords to quit last year was capital gains tax, at 13.76 per cent, followed by stamp duty changes, rising interest rates and energy efficiency targets costs. Some landlords also said they had quit in order to move their funds to a 'less volatile market.' Together's research was conducted by Censuswide, which carried out a survey of 500 commercial property investors, developers and property professionals in April. Office space in demand - but only if it's top notch The return to office-based working, either hybrid or full-time, looks set to continue over the coming years, Together said. Four in five industry insiders surveyed said they believed offices represented a strong property investment opportunity over the next five years. Together said: 'But it's evident that businesses aren't just settling for any office space as we've seen an increasing demand for higher quality stock (Prime and Grade A) whilst the available supply of lower grade premises (Grade B and C) largely goes ignored. 'Sustainability has become one of the key drivers of this trend as businesses become increasing conscious of their carbon footprint, implementing initiatives to reduce the environmental impact of their operations.' As well as being high-quality and sustainable, many businesses are on the hunt for new premises which 'cater to hybrid working patterns and lower overheads', the report said. Demand for modernisation and technology upgrades across existing premises is also strong. Ryan Etchells, chief commercial officer at Together, said: 'Attracting and retaining the bets talent is also a major reason for businesses moving to higher quality offices.' Outlook for retail spaces Many high-street retailers have been hammered by high business rates and dwindling footfall in recent years. High parking charges imposed by councils are also a major problem. However, last year the value of retail sales rose 1.4 per cent to £517billion and the number of transactions increased by 0.7 per cent, according to the Office for National Statistics. Together added: 'And 2025 has started off in similar fashion, with the ONS announcing that sales volumes in the first three months grew by 1.7 per cent when compared to the same months in 2024. 'But the overall outlook remains optimistically cautious as we wait to see the economic effects of National Insurance rises, export tariffs and inflation on consumers and retailers. 'The number of sales made online grew again in 2024. So, we're expecting to see the continued increase in quality logistic and distribution hubs popping up around the country in strategic locations.' Together said it had seen an increase in the number of property investors considering snapping up 'semi-commercial' property. Chris Baguley, a managing director at Together's corporate arm, said: 'I'm happy to see how many have thought about investing in a semi-commercial property (94 per cent) as it's a sound way to offset risks and generate multiple incomes from one property. 'At Together, we expect to see a rise in these mixed commercial and residential rental properties in 2025.' Seventy-nine per cent of industry experts surveyed said they viewed retail shops as a good investment for the next five years. However, only 32 per cent expect an increase in revenue from these investments over the same timeframe. How to find a new mortgage Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you What if I need to remortgage? Borrowers should compare rates, speak to a mortgage broker and be prepared to act. Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it. Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees. Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone. What if I am buying a home? Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be. Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power. How to compare mortgage costs The best way to compare mortgage costs and find the right deal for you is to speak to a broker. This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice. Interested in seeing today's best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs. If you're ready to find your next mortgage, why not use L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you. > Find your best mortgage deal with This is Money and L&C Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you.
Zawya
08-05-2025
- Business
- Zawya
Committee on Higher Education Warns National Student Financial Aid Scheme (NSFAS) Against Cancellation of Student Accommodation
The Portfolio Committee on Higher Education has expressed concern about the cancellation of student accommodation agreements with unaccredited providers, warning that mid-term disruptions unfairly affect students. The committee was briefed by the newly appointed board of the National Student Financial Aid Scheme (NSFAS) for an update on student appeals, funding decisions for the 2025 academic year, the disbursement of allowances, student accommodation and other related matters. Committee Chairperson Mr Tebogo Letsie said: 'We fully support the cancellation of unaccredited accommodation and as the committee we concur on that point. However, when cancellations happen during the academic term or trimester, it creates serious challenges. Students are left stranded, unable to graduate, and burdened with debt for decisions they had no control over. We must urgently move toward ensuring that all accommodation is accredited.' The committee also highlighted that in the 2024 financial year, NSFAS's mid-year defunding of students caused significant disruptions. Institutions, having already budgeted for registered students, were left financially exposed, triggering a chain reaction of financial instability. Members of the committee stressed that NSFAS's operational shortcomings are exacerbating student debt levels and jeopardising students' academic success. The committee said the timing of NSFAS decisions, often at critical academic periods, was concerning. Lastly, the committee emphasised the urgent need to strengthen communication between NSFAS, higher education institutions and students, noting that delays and miscommunication in funding decisions continue to unfairly prejudice students. Distributed by APO Group on behalf of Republic of South Africa: The Parliament.
The Herald
08-05-2025
- Business
- The Herald
NSFAS in 'firefighting mode' over student accommodation crisis
The National Student Financial Aid Scheme (NSFAS) acting CEO Waseem Carrim acknowledged ongoing problems with student accommodation, citing inadequate planning and risk assessment before implementing the student accommodation pilot project. Nsfas launched the pilot project during the 2022/23 academic year to ensure that qualifying students were provided with conducive private accommodation. Carrim said that NSFAS had undertaken the project without doing necessary feasibility studies, capacity building, policy guidelines, or a legal framework, resulting in significant issues within the system. This came as NSFAS briefed MPs on updates related to resolving students' appeals, funding decisions for the 2025 academic year, disbursement of funding and allowances, the close-out report, student accommodation and related matters. Highlighting the structural problems within the student accommodation sector, Carrim pointed out the shortage of safe and secure student housing in South Africa. 'If you go to the University of Fort Hare today, Alice campus, there are insufficient beds, which means we end up paying the students an allowance. And say, go and find your own which is not a good way to run the system, but we must recognise that even where student accommodation exists, we do not have an effective and efficient distribution system of allocating, placing and paying for that student accommodation.' Carrim noted that in 2024, about 2,500 accommodation providers, representing about 81,000 students, were paid about R2.9bn for private accommodation. However, in 2025, though payments had been made to 3,828 providers representing more than 100,000 students, the disbursements amounted to about R1.3bn, significantly lower than the previous year. To address the immediate issues, Carrim said, NSFAS had finalised the 2024 reconciliation of unpaid student accommodation and instituted a 2024 claims process, with payments expected by May 31. Carrim said many small and medium businesses could not survive without NSFAS payments if there were no payments for two or three months. 'On the other side of that, we also have a fiduciary obligation to confirm that the students who are staying in those residences are confirmed students. We are picking up too many instances where students are living in accommodation as NSFAS students, but we don't have registration data,' he said. Further, Carrim acknowledged challenges related to unaccredited accommodation allowances, which were capped at R2,500 to encourage landlords to upgrade facilities to meet accreditation standards. He noted that this cap led to protests, such as at the University of the Free State, prompting NSFAS to grant a deviation for the 2025 academic year. Addressing the Eastern Cape situation, Carrim said that a system challenge had caused some landlords to receive only one month of disbursement after being owed four for months. He assured that a top-up payment was scheduled for May 2 . A member of the portfolio committee on higher education, Sedukanelo Tshepo Louw, recommended that by the end of May, institutions should have NSFAS officers on-site so that students could address their frustrations directly with them. 'Unaccredited private accommodation should not be paid for, however, providers should be encouraged to seek accreditation,' Louw said. TimesLIVE
