University Income Reaches £30 Billion

Posted by Richard Ward in ,

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A report produced by the Association of University Directors of Estates (AUDE) has revealed the UK university sector increased its annual turnover by £2 billion in one year, placing total turnover for the entire sector at £30 billion.

Spanning the academic year of 2014-15, the report outlines the evolving profile of the university estate in the UK. The report revealed income in the sector increased across all areas, with teaching income up 6%, research income up 12% and other income up 10%.

Capital expenditure during 2014-15 increased by 5.6% across the UK, driven by additional investment in the estate, as the sector continues to improve its facilities to meet increasing demand for high quality and attractive facilities.

The report suggests University estates have continued to grow, expanding by 200,000 square metres compared to the previous year to 14.3 million square metres. In particular, the universities of Manchester, Cambridge, Edinburgh, Oxford and Nottingham all have academic estates in excess of 500,000 square metres.

Despite the growth in the overall footprint of universities nationwide, total property costs have remained relatively flat for the past six years, increasing from £95 to £98 per square metre, suggesting the sector's continued commitment to driving efficiency.

Sir Ian Diamond, principal and vice-chancellor of the University of Aberdeen said of the findings: "A real feature of the evolution of the higher education estate in recent years has been how the local community is able to use the estate, or in which developments are a part of the community. Imaginatively developed facilities can support and enhance higher education's contribution to the economy and to society. But in this landscape, there is no room for complacency."