UPP is rising above the recent doom and gloom as it celebrates another spectacular year with occupancy levels of more than 99 per cent across its portfolio of university partners.
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11/08/2008 - UPP Announces £111 Million Refinancing of Nottingham Trent University Student Residential Accommodation
University Partnerships Programme (UPP), one of the UK's largest providers of student accommodation, today revealed a major refinancing package being carried out in conjunction with Nottingham Trent University (NTU). Under the new arrangement, a ten-year lease extension has been agreed for the new company and represents the forging of a closer partnership between UPP and NTU. Involving £111 million, the refinancing will bring together the two UPP-managed schemes at the University under one new special purpose company.
The partnership was started in 2002 with an estate transfer of 2,300 rooms on the NTU campus, and strengthened when UPP built 446 new rooms in 2003.
Sean O'Shea, Managing Director of UPP, comments:
"This deal shows that significant new funding is still available for developments in the higher education sector, which remains highly attractive and stable despite the vagaries of other parts of the property market. It also underlines our commitment to partnership. NTU is a genuine stakeholder in the accommodation scheme, not just outsourcing its student housing. Students will benefit from high-quality, well-managed properties and the University gets a valuable injection of capital to utilise on the provision of its core services."
Stephen Jackson, Chief Financial and Operations Officer at NTU, adds:
"This marks the next evolution of our accommodation programme, strengthening our partnership with UPP via a financing package that provides significant benefits to both parties. The two schemes are a key element of our offering and will enable us to continue attracting the best students."
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Notes to Editors
University Partnerships Programme (UPP) is the trading name of the UPP Group of companies. It specialises in funding, developing and operating student accommodation schemes. It has invested almost £1 billion in the higher education sector and plans to invest a further £1 billion over the next two years.
15/07/2008 - UPP and Leeds Metropolitan University agree new £26 million student accommodation scheme
University Partnerships Programme (UPP), one of the UK's largest providers of student accommodation, today announced that it is designing, building, financing and operating a major new development for Leeds Metropolitan University.
With a total value of around £26 million, the Carnegie Village scheme on the university's Headingley campus consists of 479 rooms built to UPP's unique Eco-Residence model. This is a class-leading template for sustainable student housing that has also been employed at other UPP schemes.
Shepherd Construction is the contractor and UPP Residential Services Ltd will provide both hard and soft facilities management services to the development, which is currently on a 45-year lease.
This is the second UPP property transaction financed by Barclays Bank in as many months. It demonstrates the strength of the university accommodation market and its continuing appeal to funding providers, despite the global economic slowdown.
Sean O'Shea, managing director of UPP, comments:
"This marks our second accommodation project with Leeds Metropolitan, following an earlier scheme in 2005. We have a real partnership built on solid financial foundations.
"Leeds Metropolitan has also adopted the Eco-Residence design that is currently flourishing at Lancaster University and is in development at other UPP schemes. It marks a major step forward in sustainability and energy efficiency."
Stephen Willis, Director of Finance & Resources at Leeds Metropolitan University, adds:
"Carnegie Village is set to be a landmark scheme, with the Eco-Residences reinforcing our position as a high-quality and environmentally conscious university able to attract the best students.
"Our partnership with UPP is hugely important to us and has proved beneficial to both parties and most significantly, our students; not least through an accommodation design that puts us at the forefront of sustainable thinking."
UPP is already working on site at Carnegie Village and the development is scheduled for completion in August 2009.
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24/06/2008 - Lancaster students unveil racing car
A team of seven students from Lancaster University have unveiled a high-performance racing car they designed and built themselves, ready to take part in the Formula Student race at Silverstone on 10th - 13th July.
The students, all studying mechanical or mechatronic engineering, have spent nine months planning and creating the car from scratch. It weighs approximately 220 kgs, produces 400 bhp per tonne and can reach speeds of more than 100 mph, with acceleration of 0 - 60 in approximately 3.5 seconds. It is sponsored by student accommodation provider University Partnerships Programme (UPP).
Formula Student is the biggest student motorsport event in Europe, held every year to encourage future engineering talent. It is recognised by the Institute of Mechanical Engineers and developing the car was an integral part of the students' fourth year of study.
The Lancaster team will be competing against other student teams from across the world, some of which have more than 100 people working on their teams.
The team's induction design engineer, Alex Bartlett, said:
"The last nine months have been a real learning curve for us. We're a small team, but this is great because it means we've each had an important role to play in the car's creation. We've all had to pitch in with both the mechanical and management aspects of the project.
"Students from Lancaster have been competing in Formula Student since its inception nine years ago and have had some great successes during that time. We'd love to finish in the top ten, but even if we don't the experience has been extremely worthwhile.
"We've developed a great sense of teamwork and time management as well as practical skills. What we've learned will be invaluable in our future careers."
Tony Allen, regional director at UPP, said
"UPP is proud to be working in partnership with Lancaster University and sponsoring Lancaster Racing 2008."
Ahead of next month's race, the car will be tested on a rolling road and on the tarmac at Samlesbury aerodrome.
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06/06/2008 - UK's largest student accommodation project to showcase eco-friendly living for students
With a portfolio of more than 16,000 student rooms across 10 universities partnerships, the University Partnerships Programme (UPP), the country's leading university partner in student accommodation, is celebrating 100% occupancy levels across all sites at the beginning of the academic year.
UPP has invested in excess of £200 million in the higher education sector in 2007 alone, bringing its total private finance commitment to the sector to more than £800 million in the last 10 years.
With the demand for exceptional students at an all time high, UPP's success has been punctuated by several new, innovative partnerships in recent months.
In June, UPP reached financial close on both Phase IV of the Lancaster University Residences Programme and a major £60 million on-campus development at Loughborough University. Most recently, a deal has also been confirmed with the University of Kent.
The student accommodation development at Lancaster University is the UK's largest to offer students eco-friendly living. Employing an array of energy-saving techniques, such as sourcing timber from sustainable managed forests, using enhanced insulation levels and water-based paints, sustainability of the development will be a priority from start to finish. The 'Eco -Residence' model, developed by UPP, is also now under construction at the University of Kent.
The deal with Loughborough University will provide 1,300 additional bedrooms. Described as the university offering the 'Best student experience', the partnership with UPP will help Loughborough University continue to lead the way in providing students with an outstanding university experience.
Sean O'Shea, Managing Director of UPP, commented:
"Our tailored and flexible approach to each partnership we engage in offers very tangible and real benefits to the universities we work with. This year has seen UPP go from strength to strength, and the 100% occupancy levels are testimony to the high quality accommodation and services we’re providing.
"As the competition for attracting exceptional students increases, it is very pleasing to see more universities wanting to forge new, innovative partnerships with UPP, as well as extending existing ones."
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05/06/2008 - UPP celebrates ‘topping out’ at Kent
The topping out ceremony for the University of Kent’s new college took place this week at the university’s Canterbury campus. The £25 million college, scheduled for completion in August, will offer first-class en suite accommodation for 544 graduate students and includes a state-of-the-art 500 seat lecture theatre.
Professor Julia Goodfellow, Vice-Chancellor of the University of Kent, carried out the ceremonial ‘tightening of the bolt’ with UPP Chief Executive Clive Crawford and Kevin Atkinson, Construction Director at Mansell Construction Services Limited.
Professor Julia Goodfellow said: “This ceremony marks the near completion of the college at the heart of our new Graduate School. With Professor Diane Houston as Dean, the School will provide postgraduate students at Kent with a distinctive and memorable graduate experience.”
The ceremony was hosted by project contractors Mansell. The college, designed by David Morley Architects, will be owned and operated by UPP Limited, a specialist provider of student residences throughout the UK. The university will be responsible for liaising directly with students in terms of allocating accommodation, administering room licences and also in all pastoral matters. Clive Crawford said: “This accommodation marks the latest in a series of Eco-Residences we are developing in the university sector, assisting us in achieving our goal of 35,000 rooms across the UK by 2010. We have established a strong partnership with the University of Kent and we look forward to a lengthy and productive partnership with the university over the years to come.”
The speakers at the ceremony were Andy Bowler, Mansell’s Divisional Managing Director (London); Clive Crawford, Chief Executive UPP; and Keith Mander, Deputy Vice-Chancellor University of Kent who has played a key role in the building’s development.
It was attended by nearly 80 guests. Among those present at the ceremony were Sir Robert Worcester, University Chancellor; Valerie Marshall, Chair of the University Council; Steve Waite, Managing Director Mansell, and Mark Allen, Director, UPP.
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05/06/2008 - UPP opens its first regional office
The University Partnerships Programme (UPP), the country's leading university partner in student accommodation, is celebrating the opening of its first regional office, which is located in Leeds.
The UPP office is located at Kirkstall Brewery - a residence of 1,500 rooms run by UPP on behalf of Leeds Metropolitan University. It was officially opened by Professor Simon Lee, Vice-Chancellor of Leeds Metropolitan, on Wednesday 4th June.
The office will be headed up by Tony Allen, UPP's director for the northern region, and run by regional manager Beth Raine. Six staff will be based in the office, while a team of 30 on-site staff have been appointed from the local area. From this base, UPP will be able to enhance further the high quality, localised support it provides to its university partners across the region, including not just Leeds Metropolitan University, but also Lancaster University and the University of York.
The decision to open an office outside London is part of the company's strategy to double in size within the next three years, and reach a total investment of £2 billion by 2010.
Sean O'Shea, managing director at UPP, said: "2008 is a time of exciting and ambitious growth for us, following our most successful year to date. It makes sense that we begin expanding into the regions and our new office in Leeds will help us to provide an even more personalised service to our local university partners."
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06/05/2008 - UPP announces £190 million re-financing
The University Partnerships Programme (UPP), the country’s leading university partner in student accommodation, today announced that it has raised £190 million and re-financed nine university projects operated by UPP with four of its university partners.
The funds raised include £120 million from Dexia and £70 million from Barclays. Both have funded UPP projects in the past and have now signalled their continuing support for this successful niche of the commercial property market.
The nine projects that have been refinanced are operated by UPP in partnership with the University of Plymouth, Nottingham Trent University, University of Reading and Oxford Brookes University.
Sean O’Shea, managing director of UPP, comments: “Despite the talk of the credit crunch, banks are clearly still open for business when the opportunity makes sense. It adds to the £1 billion in financing that is already available to our business, with our stated goal of reaching £2 billion of total investment by 2010.
“Our pipeline of future business is also looking extremely positive and this transaction gives us the confidence that university infrastructure assets are an attractive sector for the banking market.”
The transaction also marks the final phase of a major corporate restructuring programme for UPP, which sees the creation of UPP Group Limited.
Sean O’Shea continues: “The restructuring has seen a rationalisation and focusing of our business that will greatly benefit our university partners. It was an integral part of our business plan and provides a solid platform for building towards our strategic goals.
“The process may have been complex but the outcome is enormously positive. We are now well placed to drive investment in high-quality student accommodation, working in close partnership with the higher education sector, for the years to come.”
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27/03/2008 - UPP to host third Universities and Built Estate Conference
The University Partnerships Programme (UPP), the country’s leading university partner in student accommodation, is to sponsor the third Universities and Built Estate Conference, taking place on Thursday 15th May 2008 at London’s Inmarsat Conference Centre.
This important annual conference, which gathers higher education leaders and senior managers from universities, will address a range of aspects regarding the planning and financing of sustainable university estates. The event is particularly pertinent in light of HEFCE’s recent guidance that future capital funding may be linked to an HEI’s success in reducing carbon emissions.
An international key note address will be given by Dr Avi Friedman, Professor of Architecture and Director of the Affordable Housing Programme, McGill University, Canada. Dr Friedman is also creator of the HE sector’s first scaleable template for sustainable accommodation – the Eco-Residence – which is being used by UPP to help universities accelerate the development of eco-friendly estates. The first Eco-Residence opened at Lancaster University in January 2008 and the model, which has been awarded a BREEAM excellent rating, is already being implemented by two other universities in partnership with UPP.
A full conference programme is available and bookings can be made at: http://www.neilstewartassociates.com/jb244/
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05/02/2008 - UPP to invest £2 billion in higher education infrastructure
The University Partnerships Programme (UPP), the country's leading university partner in student accommodation, has announced plans to double in size within the next three years and invest a further £1 billion in higher education infrastructure by 2013, delivering a total of £2 billion in private sector investment to the sector.
UPP achieved its most successful year to date in 2007, following a strategic restructuring of the company and the appointment of Sean O'Shea as Managing Director. Having completed three new partnerships over the year, UPP now has £450 million worth of construction in progress - all of which is on time and on budget.
With a further 17,000 new student beds in the pipeline, UPP is making early progress towards its expansion goals, which include a rent roll of £125 million from a planned portfolio of 35,000 rooms by 2010.
Sean O'Shea comments:
"Many organisations in the HE sector face significant funding challenges to retain or enhance their competitiveness, at a time when the government is championing a skills-based economy. Working in partnership with universities, we supply solutions that unlock significant capital against their estates, allowing our partners simultaneously to invest in key areas such as faculty expansion plans while regenerating their accommodation and facilities.
"Our plans are ambitious but we have an extremely strong track record in adapting our proposition to each university and delivering, consistently."
Last year also saw UPP deliver the first scalable template for eco-friendly student accommodation, which has been recognised with a BREEAM 'excellent' rating. Construction of the first Eco-Residence has just been completed at Lancaster University. The University of Kent is also leading the way by adopting the sustainable design for a new college which is currently under development.
Sean O’Shea adds:
"As a source of so much innovative thinking and a springboard for future generations, the HE sector must set an example by putting sustainability at the heart of its development. As a direct response, UPP's Eco-Residence offers a unique template for the sector to take bigger, faster steps in this direction.
"I'm looking forward to building on the successes of 2007, bringing further solutions to the sector and establishing new partnerships in the coming months."
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27/11/2007 - UPP selected to develop new college at University of Kent
The University Partnerships Programme (UPP), the country's leading university partner in student accommodation, is to develop a new college including mixed-use academic facilities and eco-friendly student accommodation in long-term partnership with the University of Kent.
The £26 million project, which will create ‘Virginia Woolf College', involves the development and management of a range of eco-friendly accommodation including 453 new en-suite study bedrooms for post-graduate students; 50 superior en-suite rooms ; 41 studios; almost 2000m2 of teaching and conference facilities; as well as a 496-seat lecture theatre and communal pavilion. The pavilion will include a reception area, launderette, FM office, FM store and staff welfare facilities.
The accommodation being built on the University's Canterbury campus is the second use of UPP's new landmark Eco-Residence model. Developed to provide sustainable, low cost housing, the Eco-Residence uses design solutions to lessen the impact on the environment. Using timber from sustainable managed forests for the building's superstructure, the carbon-footprint of the build will be 30% less than that of a traditional superstructure. With the Eco-Residence, UPP is enshrining sustainability as a key principle from the start of building to completion of student accommodation projects and beyond.
The 50-year contract with the University of Kent is the latest milestone in a highly successful year for UPP that has also seen accommodation projects at Lancaster University and Loughborough University reach financial close. Through these deals UPP will have invested over £300 million into UK universities during 2007.
Sean O'Shea, Managing Director at UPP, said:
"This is a particularly exciting time for UPP, as our expansion plans take on real momentum. Our partnership model is particularly effective for a wide-ranging project such as this where we are working with the University of Kent to develop a new, fifth college for the university.
"Through being able to offer first class accommodation, UPP is able to add real value to our university partners, assisting them in ensuring they remain competitive and enabling them to attract large volumes of applicants."
Professor Keith Mander, Deputy Vice-Chancellor of the University of Kent, said:
"the new college - our first new college for over 35 years - will accommodate postgraduate students, reflecting a significant growth in the university's postgraduate activities". The College is to be named after Virginia Woolf, one of the major English novelists and public intellectuals of the twentieth century, who wrote that, even compared with Florence and Venice, "There is no lovelier place in the world than Canterbury".
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