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INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011
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INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Mar 29, 2015

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Page 1: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

INVESTMENT PLAN

Steven DicksonDirector of Facilities18 May 2011

Page 2: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Aims of Presentation

Update on Investment plan Status of approved projects Campus Phase 2 feasibility studies Residences Strategy

Questions

Page 3: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

University Estate Investment

• Headlines– Council approval in principal to £600m combined

Investment across Academic and Residential Estate– Investment assumptions revisited through planning

process against Strategic Plan deliverables– Capital funding cut by 68% by HEFCE– Financial planning/affordability modelling ongoing– Carbon Reduction increased to 36% by 2020

Page 4: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Investment Plan Status Update • Phase 1 Approved

– Total Investment £110m (excludes Vine Ct)– EIP, CTL, APEX, Building Infrastructure, Student Experience ,CBB, Campus

Enhancements/Public Realm, Student experience and Research Excellence – Projects procured 10% below PTE– Spend to date £50m

• Phase 2 (£140m)– Planning round captured additional £17m – Plan reprioritised in consultation with Faculties– Affordability

• Phase 3 2015-2010– £100m earmarked

Page 5: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Apex Phase 1

Phase 1 £30m budget estimate, £27m approved mandate

Provide state-of-art bio sciences support Unit, containment labs and specialised laboratories (6000m² GFA)

Building completion October 2011 Relocation phase 6 months On time/budget Phase 2 delivery subject to

financial closure with PFI consortia Allows relocation of all UoL

research activity from RLUH once PFI reaches financial close

Phase 1Phase 2

Page 6: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Central Teaching Laboratories

Project Summary

£25 budget estimate, £23m approved mandate

Provides three floors of state of the art highly serviced laboratories (8000m²)

Guaranteed Maximum Price negotiated 1000 student capacity Utilisation of 50%+ Full lab occupation 2nd semester 2012 Public realm improvements, art work

agreed, Dalwood sculpture secured and improved

Page 7: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Public Realm

Page 8: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Leahurst

• Refurbish post mortem facilities • £1m Equine Intensive Care Unit - First phase of new

Equine Development • Project Feasibility Group established

Page 9: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

2010/2011 Completed Minor Projects • Total c £15m investment• Student Experience - £5.5m

– External Fabric Improvements• Roof works Abercrombie Sq, Sherrington, Thomson Yates, EEE• Window replacement Thomson Yates• Central bookable rooms, toilets , south campus, teaching labs

life sciences• Research - £1m (energy institute, veterinary science)• DDA - £500k• Sustainability -£3.5m• Wyncote Sports Facilities – £500k• At Risk Infrastructure - £1.5m

Page 10: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

2011/12 Phase 1 Investment• Total Expenditure Identified £60m• Student Experience

– PGR Reading Room Senate Drum– Sports Facilities– Improve Teaching Facilities– Student Social Space – Public Realm

• Research Excellence– CFBB – Clinical Trials – Stevenson Institute

• Business Continuity– At risk Infrastructure– Energy Security– Sustainability

• South Campus Phase 1

Page 11: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

• 94% of South Campus built pre-1970

• 18 out of 36 buildings (50%) in poor condition (RICS Grade C & D)

• 16 buildings (44%) have no disabled access

• 23 buildings (64%) are Grade II listed with limited scope to remodel

• 9% of usable space (4,250 sqm) is vacant

• Teaching space significantly under-utilised (Frequency 39%, Occupancy

47%)

• School staff numbers projected to increase by c.16% (2014/15)

• Student numbers projected to increase by c.20% (2014/15)

South Campus

Page 12: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

• Enhance the student experience

• Upgrade 80% of retained estate to Grade A/B condition (building fabric)

• Upgrade the quality of teaching, learning and research facilities

• Improve utilisation of teaching space

• Co-locate Departments within their Schools as much as possible

• Align corporate space policies with the Academic Faculty Plan

• Ensure that office space is both efficient and effective

• Reduce overall space (GIA) by c.10% in line with Estates Strategy and Space targets

• Improve disabled access (DDA)

• Reduce building occupancy costs

• Improve Sustainability and reduce ‘carbon footprint’

Aims & Objectives

Page 13: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

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Space saving: 9.3%

School of the Arts

School of Histories, Languages & Cultures

School of Environmental Sciences

School of Law & Social Justice

UoL Management School

School of Psychology

General teaching Randal Building

Student Support Office

Building disposed of

5,667 sqm

2,367 sqm (half of Eleanor R.)

2,873 sqm (+ extension)

Usable Areas indicated

14

147A

Initial Proposals

8,326 sqm (excludes Reading Room)

Page 14: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Phase 2 Priorities - Feasibility Studies £500,000 approved mandate

Feasibility Studieso PFG establishedo South Campuso Refurbishment of Guild & Reilly buildingo Management School extensiono Veterinary Sciences relocation

Develop design to RIBA Stage C to achieve greater design and cost certainty

Page 15: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Next Steps

To complete Phase 2 feasibility studies To continue to review financial and affordability

model on project by project basis Further consultations with Faculties on capital

investment priorities Return to P&R and Council for detailed approval of

individual investments Ongoing consultation with Faculties on capital

investment priorities

Page 16: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Residences Strategy

Page 17: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Background

• A report in 2007 concluded that quality student accommodation is essential to ensure that UoL maintains its competitiveness

• The University has always offered accommodation to 1st year under graduates and a limited number, PGT and PGR students

• Student residences remain integral to UoL offering

• Decliners survey

• Browne review impact – students will expect more

• Updated review commissioned in 2010

Page 18: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Scope Of Review• Assess the condition of the current accommodation;

• Undertake a demand assessment including mix and quality of accommodation and projected increase in students (UK & International)

• Identify the investment required to lift the standard of UoL accommodation to that of other Russell Group Universities

• Assess and realign the balance of “on” and “off” campus accommodation

• Undertake Supply/Demand analysis

• Identify optimum development sites

• Undertake detailed investment appraisal

• Provide Flexible approach

Page 19: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Current Position

• The University has 3481 residential beds (2421 off campus and 1060 on campus

• Condition Survey – conclusion estate has exceeded its design life

• En-suite 9% UoL v 60% Russell Group• £2.70m per annum is only just keeping the ageing estate

operational• Without urgent intervention much of the stock will require

to be withdrawn within the next 3-5 years• Do nothing is NOT an option

Page 20: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.
Page 21: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Strategy Ambition• Deliver high quality, affordable fit-for purpose competitively priced

accommodation• Quality

• Pastoral Care Not a private sector experience• Offering expected of a Russell Group University• Student community• Broad range of accommodation type an pricing from non-en suite to loft

apartments• Meet PGR and PGT requirements in a village environment• Cater for our International students

• Sustainability• Whole life Cost• Repay finance and service debt• Institutionally affordable• Delivers positive cash flow• Influence rental levels to mitigate pricing risk

Page 22: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Strategy Ambition

Page 23: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Key Strategy - Outputs• Rebalance student accommodation with greater provision on Campus

• Undertake a phased new build (3577 Inc. of Vine Court / refurbishment (690)

• Mitigate risk using private sector to deliver 900 beds

• Meet increased demand requirement by an additional 1100 student lets (Direct for UOL)

• Deliver suitable accommodation (95 lets) to deliver pastoral care

• Phase 1 Off campus provision at Greenbank delivering a Student Village with ancillary sporting, catering and social facilities

• Phase 2 Carnatic - care and maintain existing bed numbers to be reviewed in 2017

• Deliver new financially viable residential estate at a total cost of £233m (inc Vine Ct)

Page 24: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Phase 1 Vine Court Eco - Residences

Project Summary

£44m Investment approved Sets new standards in Quality and Sustainability West Block designed to hotel standard Provides a mix 749 en-suite study bedroom

rooms, studio apartments and 2 bed loft duplex apartments

250 seat restaurant, cafe and retail space Building completion June 2012 On programme

Page 25: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Strategy – On Campus• Total 1400 new beds on campus

• Brownlow Hill/ Crown Street will deliver circa 1,000 beds plus other uses inc. small hotel.

• Mulberry Court rebuild will deliver 350 beds plus retail (Target 237 beds (150 lets).

• Alsop will deliver circa 1,000 beds plus other uses inc. small hotel (Target of 1061 beds (1039 lets).

Page 26: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Phase 1 - Off Campus

• Total 1870 beds• 1633 New beds • 166 refurbished • Village Environment• Enhanced Sporting and

Ancillary Facilities

Page 27: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Financial

• The strategy is estimated to cost £191.5m - £233.5m (inc Vine Ct over 5 years)

• Strategy proposed to be fully funded by bank debt (mortgage over 40 years)

• Detailed investment appraisal undertaken incorporating construction phasing, development and funding costs and recurring income and expenditure

• Investment self funding over life of asset

• Additional benefits

• Includes £12m of additional sports and student experience facilities

• Includes £6m of non - income generating accommodation for Tutor and Wardens

Page 28: INVESTMENT PLAN Steven Dickson Director of Facilities 18 May 2011.

Questions