Liberty Living plc is the property asset manager for the student accommodation business of Brandeaux Funds, a privately-owned funds management business.
Brandeaux Funds have recognised the potential for student accommodation to provide consistent low volatility performance for their investors and, through its asset manager, Liberty Living plc, has developed the LibertyLiving brand as the private-sector accommodation provider of choice for students and university partners
What benefits does this deliver universities?
In outsourcing accommodation, universities have the opportunity to redirect much-needed funds into their core business. With its focus on operational excellence, LibertyLiving works together with university partners to deliver quality accommodation at a value-for-money price over a long time horizon, to allow universities to focus on their key competences of education and research.
What benefits does this deliver to students?
Today's students are far more quality-focussed: the standard of accommodation required and expected by students is of an increasingly sophisticated standard. Whereas the key reason for choosing a university for study is the qualification that will result from the course taken, research has shown that the standard of accommodation is an important ingredient in the criteria of university choice. The demand for high-quality en-suite accommodation experienced in the past five years by many universities illustrates this point dramatically. Gone are the days of small private landlords working with students. LibertyLiving is recognised as a market leader in the service it delivers and is a founder member of the ANUK Code of Standards.
How specifically can this help our University?
LibertyLiving has great experience in working in partnership with universities and prides itself on being responsive to university as well as student needs.
LibertyLiving has experience in various types of partnership arrangements with universities, including new build, stock transfer, lease and nomination, examples of which are given below:
Example 1 – direct development
Liberty Park, Bedford was developed directly in partnership with the University that owned the Polhill Campus in Bedford, allowing it to release funds from unused land adjacent to the academic campus. Having acquired a long lease on the site, LibertyLiving worked in conjunction with the University to design and develop a 500+ bed residence. The University entered into a 20-year nomination with rolling 3-year breaks, allowing the flexibility necessary for the University to continue expansion and offer top-quality accommodation but without requiring any capital commitment to meet accommodation needs.
Example 2 – stock transfer
Queens Hospital Close, Hunter Court and The Beeches were three buildings owned by the University of Birmingham that were in need of renovation. The University needed to make a major investment in the buildings in order to bring them up to the standard required for today's discerning students. Instead of spending the substantial sum required, they instead realised value from the assets and banked over £47 million from the sale of the buildings. LibertyLiving delivered the refurbishment in just 9 weeks in the summer following acquisition to deliver top-quality accommodation to the following year's intake.
The University subsequently entered into a nomination agreement with LibertyLiving, ensuring that they were in control of the same number of bed spaces and were not limited in the number of students they could accommodate.
Example 3 – nomination agreements
LibertyLiving at Quay Point, Newcastle offered precisely the location, number of beds and standard needed for Northumbria University to support its ambitious plans for campus expansion. Following an initial trial period, the University were confident enough with the standard of customer care intrinsic in the LibertyLiving brand to negotiate a long-term nomination agreement giving access to almost 700 beds. The subsequent development of the £100 million City Campus East was made possible by the guaranteed beds at no financial cost that LibertyLiving had delivered.
Example 4 – lease agreements
Liberty House, Aberdeen offered the good functional accommodation in central locations important to Robert Gordon University. In this agreement, LibertyLiving controls the "hard FM" e.g. cleaning and maintenance. RGU accommodation staff control the allocation of rooms and student welfare issues, assisted by the LibertyLiving staff "on the ground".
LibertyLiving is in the student accommodation business for the long term and are interested in any opportunities to grow through the acquisition or development of suitable properties. With strong and stable financial backing, the Brandeaux Funds make an ideal partner for long horizon partnership plans. The LibertyLiving brand exemplifies a pride in responding flexibly and professionally to university and student needs and Liberty Living would be delighted to talk informally to any universities interested in discussing their accommodation needs future or present. University references are available on request.
For further information, or to arrange a meeting, please contact:
Charles Marshall - Chief Executive Officer
Email: c.marshall@libertyliving.co.uk
