Year: 2009

The Government has confirmed that the fresh cuts to higher education funding announced by Lord Mandelson are in addition to the £600 million cuts set out in the pre-Budget report, prompting warnings that £915 million is to be slashed from the sector over three years.

In last week’s grant letter to the Higher Education Funding Council for England, Lord Mandelson announced a cut of £135 million in its 2010-11 settlement, alongside the £180 million in “efficiency savings” announced in the 2009 Budget.

The Department for Business, Innovation and Skills has now confirmed that the £135 million reduction will be on top of the £600 million cut to higher education and science funding announced in the pre-Budget report earlier this month, which is to be implemented between 2011 and 2013 …

View original article

King’s College London and Investream are proposing to demolish the existing Capital House building and replace it with a 31-storey tower containing 525 student bedrooms and a bar, gym and library at the top of the building.

The site is part of King’s College London’s Guy’s Campus and is close to the Shard of Glass which is now under construction at London Bridge, as well as the proposed ‘Three Houses’ development further east along St Thomas’ Street …

View original article

A huge block of city flats which would house almost 200 international students is set to be given the go-ahead.

Plans for three linked wings containing 31 flats and 18 bedsits, housing 188 students, have been submitted for the former Canterbury Hall site in Garstang Road, Preston.

Councillors will consider the proposal in the new year after officers this week recommended approval …

View original article

House prices are likely to finish the year up by about 7%, despite dire predictions of falls of up to 20% at the start of 2009.

The value of the average property fell by 19% from a peak of £186,044 in October 2007, to a trough of £147,746 in February this year, according to the Nationwide house price index.

Confidence returned, however, with the market bouncing back 8% to £162,764 in November as the expected flood of repossessions failed to materialise and buyer demand outstripped the supply of property coming on to the market …

View original article

Gloucestershire chairman John Light insists the club’s plans to redevelop their Bristol home remain unaffected by an annual loss of £167,000.

The club have blamed the deficit on a £126,000 shortfall in gate receipts compared to what they had budgeted for …

View original article

Unite, the student housing group, has completed a £167m capital raising for the Unite UK Student Accommodation Fund (USAF), which will be in part used to acquire five of its properties for £95.4m.

The acquisition from Unite comprises 905 bed spaces across five properties in London, Edinburgh, Exeter and Glasgow, taking the USAF portfolio to 58 properties in 18 cities.

USAF, in which Unite co-invests, provides a buyer for the properties developed by Unite as well as from third parties. Taking into account debt, USAF has the capacity to invest up to a further £225m in further acquisitions, as well as funding a programme of modest refurbishments of certain properties …

View original article

Academics and vice-chancellors from across England’s universities united today to oppose cuts announced yesterday of more than half a billion pounds from their budgets next year.

Vice-chancellors warned of “severe pressures” that would compromise the quality of degrees while academic leaders said the cuts would lead to larger class sizes.

Lord Mandelson yesterday set out the cuts for next year, which include £263m that was already known about and an additional £270m. The £533m reduction leaves a serious hole, reducing the universities’ budget to £7.3bn next year. Universities that over-recruited students this summer – after record applications in the recession – will also be fined £3,700 for each extra student they accepted …

View original article

The government is to cut university funding in England by a total of £398m for 2010-11 compared with this year, Business Secretary Lord Mandelson said.

In a letter to the Higher Education Funding Council For England (Hefce), he also asks universities to protect quality and access to higher education.

His letter confirms efficiency savings of £180m and £83m – and makes a further £135m budget reduction …

View original article

Construction of a futuristic 31-storey building in Plymouth city centre could begin next spring.

The £89m Devington Homes Oceanique development near Derry’s Cross was approved by planners in May.

Thought to be one of the tallest outside London, the building will include a hotel, flats, student accommodation and space for businesses …

View original article

Plans are being drawn up for a £30m student skyscraper on the edge of Leeds city centre.

If the scheme gets planning permission, a 35-storey block would be built in North Street on the site of flats that have stood empty since experts advised they were potentially unsafe in high winds.

The £3m Caspar (City Centre Apartments for Single People at Affordable Rents) development was completed nine years ago by Japanese construction company Kajima …

View original article