A Purpose-Built Student Housing Facility - Dissertation Example

This study investigates the feasibility of such facilities for LSCIT as a business opportunity. In this regard, students in London are interviewed about their lived experiences with accommodations in London, and parents who fund international student’s residences in London participate in open-ended questionnaires about their preferences and perspectives on purpose-built housing facilities. The results of this study are discussed and in particular, the implications for LSCIT are discussed.

The London School of Commerce and IT (LSCIT) is a higher education institution in London offering undergraduate and post-graduate degrees in Business. Although LSCIT reaches out to international students it does not specifically offer students accommodations. The only accommodations offered are in the form of assistance through estate agents and this is only a temporary arrangement for students who are entering LSCIT from outside of London. The purpose of this report is to provide a business proposal for a purpose-built student housing facility for the London School of Commerce in London’s Southwark area.

The London Borough of Southwark is a convenient location for the housing facility because, while it is a part of London, it is not entirely centrally located and therefore permits students to escape the higher prices of accommodations and general costs of living in Central London. Southwark is also noted for its history and was once home to Shakespeare, Chaplin, and Dickens. In addition transport into the city, to airports and out of the city is available in Southwark and this is particularly appealing to foreign students. International students will also feel comfortable in Southwark as, 43% of students in Southwark’s schools speak English as a second language (Southwark Council, n.d.).
International students and students who do not originate from London are both important to the continued success of LSCIT. A research report prepared by Kingdom (2012) reveals that with an increase in tuition for higher education in the UK, there was a 7.7% drop in applications for entry in 2012. However, international students remain strongly represented in the UK’s higher education institutions and in London in particular, one out of every three students are foreign (Kingdom, 2012).

Over the last three years or so, the private sector’s provision of accommodations has increased and this increase is primarily spurred by international students. It is expected, however, that there will be an increase in demand for purpose-built housing as students faced with higher tuition looked for improved quality in their university experience including accommodations (Kingdom, 2012).

According to a research report provided by Savills (2013), the student housing market in Europe is maturing and investors are looking for opportunities to invest in purpose build housing. One of the main drivers in cities such as London, where student populations are experiencing rapid growth and supplies are unable to keep up with this demand. Cities, such as London where rents are high are particularly appealing to investors who are looking for partner universities as a means of funding and co-operating purpose-built student housing (Savills, 2013).