Brookes makes over £3 million profit from its halls of residence every year
And they only want to upgrade the rooms every 25 years
In a Freedom of Information request by The Tab Brookes, it was discovered that Oxford Brookes University makes approximately £3,587,586 profit every year from its halls of residence.
In 2015/16, the overall revenue from student halls run by Brookes was £15,187,273 from the 3844 students living in halls at the time.
The request returned that: “The University works on a ‘contribution per bed space’ of £933 (in 2015/16) for each bed space. This generates a sinking fund to refurbish rooms completely every 25 years at an assumed cost of £25k per room. Any shortfall is topped up from other sources of University funds.”
When asked about the increase in rent prices in the last three academic years, the university clarified that “Rents are increased by an average of 2% per annum to cover rising costs.”
A spokesperson for Oxford Brookes responded to this matter stating “the University has charitable status which means that any surplus made from money coming in to the University is directly reinvested into University operations. This includes investing in the redevelopment and ongoing maintenance and refurbishment of our estates and facilities, both of which enhance the experience of students studying at Oxford Brookes.”