Student Letting Profits will be Spent on Bursaries

Student letting profits will be spent on bursaries Social landlords are ploughing excess cash from letting student homes in to helping young adults study at college and university. Cosmopolitan Student Homes expects to make profits of between £500,000 and £1.5 million from letting 4,500 homes to students in Birmingham, Liverpool and Manchester over the next year. Another 1,700 homes are under development. Bursaries will be available to help disadvantaged students in Cheshire and Merseyside with tuition costs. Plans go in for £30 million twin towers Architects have submitted plans to Birmingham City Council for two new skyscrapers to house students in the city centre. The £30 million development for towers of 11 and 16 floors is the second phase of the £40 million Bagot Street complex due for completion in July. The new phase will house 492 students in 70 studio rooms across the two new blocks. The ground floor will also incorporate shops and offices. Approval is expected in the autumn and completion is scheduled for 2013. Jobs to go as halls close The jobs of 22 workers are at risk if the planned closure of University of Arts London (UAL) student accommodation at Tooting goes ahead. The 350 room halls are due to shut for good at the end of this academic year because UAL reckons a predicted £400,000 spend on improvements to the aging blocks is too expensive. Although the improvements would cost £400,000, the university believes another £1.1 million would need spending to keep the rooms open and the cash would be better spent on new accommodation. City development rejected Proposals for developing accommodation for 445 students, homes, offices and shops at Sidney Street, Sheffield, have been thrown out because the site is too small. Councillors liked some of the points of the development, but felt developers were squeezing too much on to a conservation area site.

Landlord blog

Jennifer Leonard

Further reading

Students face higher rents and longer commutes - survey

Peer proposes to keep student tenancies as periodic

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