Student Accommodation
Over the past decade, there has been a 28% growth in student numbers, with record applications in 2010 and again in 2011 in advance of the increase in university tuition fees. While this may result in a fall in applications from UK students, the market has an ongoing 30% excess demand for university places. Further growth in the number of overseas students, who currently make up 16% of the total market, is expected.
Accommodation is supplied by:
- Universities which house some 19% of full time students (309,000 rooms)
- The professional private hall sector which provides around 150,000 beds. About 10,000 new beds come on stream each year
- The privately owned or rented sector (shared houses)
The universities' capacity is shrinking and 35% of university provided accommodation is considered to be in poor condition. This provides very good opportunities for the private sector in academic estate rationalisation, which is under occupied and expensive, with a 25% usage rate in term time and an estimated £11.5bn expenditure requirement
iQ
iQ was established in 2007. It is a 50/50 joint venture with Wellcome Trust. Quintain is the asset manager and fund manager. We are one of the top ten operators in the UK with 11 schemes now operational providing 4,253 rooms.
| 31 March 2011 | 31 March 2010 | |
|---|---|---|
| Quintain holdings | 49.98% | 49.98% |
| Assets under management | £309m | £209m |
| Capital invested | £67.7m | £46.0m |
| Income generated1 | £11.3m | £8.5m |
| Contribution to profits | £9.9m | (£1.0m) |
1Fee income plus share of joint venture
You can find out more about iQ through this link: www.iq-student-accommodation.com
