LONDON--(BUSINESS WIRE)--University Partnerships Programme (UPP), the leading provider of on-campus student accommodation infrastructure and support services in the UK, has established a new 100% owned subsidiary company, UPP Management Limited (UML).
The creation of UML follows a strategic review and is part of UPP’s new five-year business plan, with the new asset management company set to focus on driving the long-term performance of UPP’s Special Purpose Vehicles, both individually and as a portfolio.
The move will see UPP moving to a three-subsidiary model in its twentieth anniversary year, having been founded in 1998, since which it has invested in excess of £2.5 billion in leading universities across the UK.
UML will work closely with UPP’s existing subsidiaries, UPP Projects Limited (the market-leading developer of on-campus university accommmodation) and UPP Residential Services Limited (the specialist provider of student residential management services).
The new company will play a pivotal role in the growth of UPP’s portfolio of around 33,000 rooms (under management or in construction) and 15 partnerships with leading UK universities, driving the long-term strategy for each partnership, while focusing on the condition of assets and plans to refresh accommodation.
UPP has appointed Mark Swindlehurst as Managing Director of UML. Mark joins from Lancaster University where he held the position of Director of Facilities. Having joined Lancaster in 2003, he led the University’s estates team through a significant campus redevelopment programme, including the investment of over £500 million in its Bailrigg Campus.
Sean O’Shea, Group Chief Executive Officer at UPP, said: “The creation of UML is an important milestone in the evolution of UPP with the Group moving to a three-subsidiary model in its twentieth anniversary year.
“UML will support our new five-year business plan as we continue to grow the number of rooms under management to more than 40,000 over the coming years and our portfolio of long-term partnerships with leading UK universities – reinforcing our position as the leading provider of on-campus student accommodation infrastructure and support services in the UK.”
Notes to editors
About University Partnerships Programme
University Partnerships Programme (UPP) is the leading provider of on campus student accommodation infrastructure and support services in the UK. We have around 33,000 rooms under management or in construction through long term partnerships with 15 leading UK universities. With over 800 employees, we work to deliver the very best student experiences, together with great universities.
We offer bespoke partnerships of typically 40 to 50 years which enable universities to make the most effective use of their assets, free up resources and improve services available to students. We design and develop high quality, affordable student accommodation on campus. Our innovative approach means our interests are aligned with those of each university partner.
Founded in 1998, we have since invested in excess of £2.5 billion in universities across the UK. We have established a long term growth strategy to ensure we remain well positioned to meet the growing demand for investment within the UK’s higher education sector, whilst at the same time helping our partners achieve their long term ambitions.
In 2013, UPP made its debut £382.1 million public bond issuance. With a multicurrency programme size of £5 billion, the issuance was the first of its kind within the sector and illustrates our ongoing ambition to bring long term institutional investment to higher education in the UK. In 2014, UPP launched a further tranche of £149.7 million index linked senior secured notes under its investment grade programme.
* All figures as at 31 August 2017.