Edinburgh University sells £37 million of its estate over past decade.

University real estate sold off to raise money for new projects

Print article

Post to Facebook

Sarah Clark

16 March 2008

Edinburgh University has sold off more than £37 million worth of real-estate over the past ten years, including flats, houses and faculty buildings.

The figures, which also reveal that the entire estate of Edinburgh University is worth £1.25 billion, were obtained under the Freedom of Information Laws.

Since 1998, the university has disposed of over 90 residential properties, raising concerns amongst students and citizens in Edinburgh of the cultural, housing and spatial implications.

Josh MacAlister, president of Edinburgh University Students Association, told The Journal: “We have been heavily involved in the developments of the university's estate strategy.

“It is clear that in order to provide quality teaching and value to students, the university needs to be more efficient with its estate.”

The property deals range from just £100 for the change of a title deed on Waverly Road to the £14 million sale of the former Moray House campus at Crammond.

AMA Homes have already finished over half of the 155-house development at Crammond, with some properties being put on the market for over a million pounds.

Concerns have subsequently been raised not only that the university and council becoming cultural vandals of Edinburgh’s architectural heritage, but also that it is the developers, rather than the University, that are reaping the benefits.

Furthermore, the statistics are revealed at a time when more study and social space is being campaigned for at the new Moray House campus due to significant overcrowding, and students are complaining that there is not enough free space provided for their society events.

Additionally, former student halls in Roxburgh Place have also been sold off for £600,000, at a time where students are facing increased difficulties in finding affordable accommodation in Edinburgh.

However, a spokeswoman for Edinburgh University said that £270 million had already been invested in its buildings since 1998.

She said: “Our current estate strategy has identified an approved investment programme of around £380m and there will be further additional investment over the period of the strategy.”

James Alexander, President of National Union of Students in Scotland (NUS Scotland), agreed that in general institutions should be free to move forward into the future.

However, he stressed that students should be at the heart of this.

Mr. Alexander told The Journal: “It is important that universities consider students to be at the centre of their long term investment and selling plans, so that student experience is directly benefited.”