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| Brexit a 'significant risk' to income of universities Brexit a 'significant risk' to income of universities | |
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| British universities have been warned that Brexit presents a significant risk to their income, after a year in which a bumper crop of postgraduate students, campus construction and rising research income lifted their turnover to £30bn. | British universities have been warned that Brexit presents a significant risk to their income, after a year in which a bumper crop of postgraduate students, campus construction and rising research income lifted their turnover to £30bn. |
| The annual report by the Association of University Directors of Estates found that while undergraduate numbers remained static in 2014-15, an influx of 10,000 postgraduate research students, higher research fees and a surge in building work pushed up turnover by £2bn in the space of a year. | The annual report by the Association of University Directors of Estates found that while undergraduate numbers remained static in 2014-15, an influx of 10,000 postgraduate research students, higher research fees and a surge in building work pushed up turnover by £2bn in the space of a year. |
| With the consequences of Britain’s vote to leave the EU yet to be felt, the organisation said: “It is impossible to predict the level of impact, although opportunities are also likely to emerge.” | With the consequences of Britain’s vote to leave the EU yet to be felt, the organisation said: “It is impossible to predict the level of impact, although opportunities are also likely to emerge.” |
| The recruitment of EU nationals as staff and students was identified as one of the major risks, along with rising construction costs and changes to EU funding. | The recruitment of EU nationals as staff and students was identified as one of the major risks, along with rising construction costs and changes to EU funding. |
| “EU research funding generates more than 19,000 jobs across the UK and £1.86bn for the UK economy. This equates to 14% of all UK income from research grants,” AUDE said. | “EU research funding generates more than 19,000 jobs across the UK and £1.86bn for the UK economy. This equates to 14% of all UK income from research grants,” AUDE said. |
| Staff numbers rose by 2,000; income from research rose by 12% and from teaching and tuition fees by 6%, with a slight fall in undergraduate numbers outweighed by the rise in postgraduates. | Staff numbers rose by 2,000; income from research rose by 12% and from teaching and tuition fees by 6%, with a slight fall in undergraduate numbers outweighed by the rise in postgraduates. |
| Trevor Humphreys, the director of estates and facilities at Surrey University and the AUDE chair, said: “Universities have been through a period of significant upheaval and the sector should be commended on its robust management and efficiency strategies, which continue to serve it well. | Trevor Humphreys, the director of estates and facilities at Surrey University and the AUDE chair, said: “Universities have been through a period of significant upheaval and the sector should be commended on its robust management and efficiency strategies, which continue to serve it well. |
| “However, the future remains uncertain as we try to plan for the impact of the higher education white paper currently going through parliament. Brexit is also likely to affect our student demographic, our workforce, our costs, as well as research funding.” | “However, the future remains uncertain as we try to plan for the impact of the higher education white paper currently going through parliament. Brexit is also likely to affect our student demographic, our workforce, our costs, as well as research funding.” |
| The campus building boom in Britain continues apace, with capital expenditure in excess of £2.75bn, up by 5% compared with the previous year. | The campus building boom in Britain continues apace, with capital expenditure in excess of £2.75bn, up by 5% compared with the previous year. |
| The survey found that universities added 200,000 sq metres to their combined estates in 2014-15, for a total of more than 14m square metres. The universities of Manchester, Cambridge, Edinburgh, Oxford and Nottingham each have academic facilities bigger than 500,000 sq metres, not including student residences. | The survey found that universities added 200,000 sq metres to their combined estates in 2014-15, for a total of more than 14m square metres. The universities of Manchester, Cambridge, Edinburgh, Oxford and Nottingham each have academic facilities bigger than 500,000 sq metres, not including student residences. |
| Universities have been keen to make the most from their properties. Examples include the University of Hertfordshire boosting income by renting office space to businesses such as Ocado and signing leases with banks and the NHS. | Universities have been keen to make the most from their properties. Examples include the University of Hertfordshire boosting income by renting office space to businesses such as Ocado and signing leases with banks and the NHS. |
| The University of Sheffield has built laboratories and office space in a new business park near the M1, expected to generate 4,000 jobs and more than £200m a year to the region when fully developed. | The University of Sheffield has built laboratories and office space in a new business park near the M1, expected to generate 4,000 jobs and more than £200m a year to the region when fully developed. |