The Property Marketing Strategists at Property Week 2021

As 2021 came to a close, we attended the Property Week Student Accommodation 2021 Conference Showcase and Awards, and it sparked some interesting avenues of thought for the year ahead. 

The annual conference brings together experts from across the board to reflect on their learnings over the past year and discuss what is likely to reshape our thinking, and accelerate innovation over the last year. In this post, we analyse some of the key points raised during the conference and offer our thoughts

Opening Remarks

Speaker Mark Easton (Home Editor, BBC)

Home editor of the BBC, Mark Easton, talked about the importance of listening to students more. He stated that whilst they have ‘been paying through the nose’, they haven’t necessarily had their voice heard.

Our reflections are that while the cost of university is frozen at £9,000 a year, accommodation costs are going to continue to rise which could look like less value for money in comparison to the education costs. 

A Question of Trust

Speaker: Dame Tanni Grey-Thompson (Chancellor of Northumbria University and Britain’s best known Paralympic athlete)

In her keynote, Dame Tanni spoke about the question of trust in the sector which has been shaken in the last 12 months.

Images of students barricaded in accommodation. 

Public can’t always differentiate between universities and PBSA, so how has this impacted the sector?

How can we restore trust and repair reputational damage?

TPMS – What did this situation teach us about the importance of relationships between Uni and PBSA? And a consideration to the differences between the Home Nations on policy and guidelines – this highlighted the lack of awareness about how PBSA is different to universities.

CEO Panel Discussion: Future Proofing PBSA: The Residual Impact of COVID-19

Speakers: Richard Skeels (Chief Executive Officer, CRM), Steve Grant (CEO, Kinetic Capital), and Joss Muirie (Chief Executive Officer, Abodus)

Some of the key points raised in the panel discussion were centred around the offering to PBSA residents. In a volatile international market, can we offer a more balanced and affordable offering for domestic students?

Offer a range of options to suit different students and markets.

You can't force a service on students

Amplifying the Student Voice: What do Students want?

Speakers: Paul Humphreys (Founder and CEO, StudentCrowd), Jenny Shaw (Higher Education External Engagement Director, Unite Students), Elinita Suman (Director of Accomodation and Operations, University of Birmingham), and Tim Pankhurst (Executive Director, CBRE) 

We found this session to be the only one that really represented the customer and got to the key of uncovering their needs and wants.

The talk went beyond the fundamentals of just location and price, and touched on the plethora of factors that are critical in student decision-making.

As Elinita pointed out, it’s ‘the stuff that makes you feel good that students remember’

Unite Students - aiming for Zero Carbon for staff, students and investors. 

Fireside Chat: The Future of the UK Higher Education Sector as a Global Brand

Speakers: Nick Hillman (Director, Higher Education Policy Institute), and Philip Hillman (Chairman, Living Capital Markets, JLL)

Philip Hillman and Nick Hillman discussed the future of the higher education sector, based on the prediction that the UK will see a 25% increase in the number of 18 year olds over the next decade.

With 380,000 extra 18 year olds by 2035, we need to think beyond higher education – this won't be for everyone.

TPMS - But if degree-level apprentices are being supported by Government, but not by local planners, these students won't be able to live in PBSA with their traditional degree counterparts. 

Similarly, if hybrid courses are the future, there will be more room on campus where FT and apprentice students could be utilising? Diversity?

The Advantages and Concerns of Partnering with the Private Sector 

Speakers: Paddy Jackman (Independent Consultant), Graham Galbreith (Vice Chancellor, The University of Portsmouth), and Helen Watson (Chief Operating Officer, Goldsmiths University of London)

There are still not enough protections in place for students against landlords that Universities have no control over.

Partnerships with private providers will become more important for the higher education sector.

PBSA should consult with universities when developing in a city.

Smart Thinking

Speaker: Tom Cheesewright (Applied Futurist)

Adolescence is being extended due to parental involvement.

Is the reach for net zero a luxury? Students want greener living without the cost. It should be a given, they do not expect to pay for a premium service. 

Invisible Technology – functional and discreet – simplicity and longevity

Metaverse Ready

TPMS – How does the impact of parental involvement feature in the decision-making process of PBSA?

TPMS - Metaverse Ready? If we are still talking about wellbeing and ESG, surely we are a long way from the metaverse?

Panel Discussion: Is Student Accommodation still hot or not?

Speakers: Mark Quigley (Managing Director - UK Real Estate Finance, Beaufort Capital Management UK), Paul Bashir (Chief Executive Officer, Harrison Street Europe), Michelle Beaumont (Head of Housing, Irwin Mitchell), Eric Clarke (Relationship Director, Investec Real Estate), and Brian Welsh, (Head of Student, Round Hill Capital)

What does the investment market look like for student accommodation in 2022 and beyond?

What are investors looking for?

Paul Bashir – understand your micro location – building next to competitors creates community

ESG – we are all doing it/new buildings are super-efficient. 

TPMS - So is that true and marketers aren’t doing their jobs sharing it or is it not actually true? We haven’t seen/heard evidence of this.

TPMS - What is the S in ESG? It was talked about like it means events but we think it means so much more – it's about the wider community, integration, diversity.

Panel Discussion: Smart Thinking: how Covid-19 hit the Innovation Accelerator

Speakers: Anviksha Patel (Chief Investigative Reporter, Property Week), James Tiernan (Head of Energy & Environment, Unite Students), Rebecca Hopwood (Head of Sales, UCAS), Tuely Robins (Head of Insights, StudentCrowd), Nick King (Business Development Director, Amber), and Billy Kontoulis (Business Development Director-Europe, ASK4)

Technology became a lifeline for students during the pandemic. Remote studying relied on high-speed broadband, online communication platforms and virtual tours. 

With new measures included in packages to ensure they are COVID-safe and future-proofed, what do students want post-pandemic? And what does the smart student accommodation of the future look like?

Spotlight Session: Lockdown but not out

Speaker: Andrew Southern (Founder and Chairman, Southern Grove Group of companies Southern Grove & Future Generations)

Evolve or die.

Andrew Southern talked about more green, social hubs, leisure facilities, integrated and reusable technology, homely feel in rooms and BBQs.

Spotlight Session: UK’s first Holistic Smart Technology Innovation Trial in Student Housing

Speakers: Mandisa Khabo (Technical Manager, Greystar), and Hamish Neale (Director Smart Building Suite, RealPage Europe)

Mandisa Khabo and Hamish Neale spoke of the UK’s first holistic smart technology innovation trial in student housing.

Future plans for smart technology in student housing.

Panel Discussion: The Affordability Conundrum

Speakers: Neil Young (Chairman, We Are Kin & Investment Chair, Young), Merelina Sykes (Partner, Joint Head of Student Property, Student Property Capital Markets, Knight Frank), Michelle Singleton (Operations Director, Abodus), and Richard Stott (Managing Director, Kexgill Group)

Neil Young – you don’t need lots of facilities if you build in a ready-made community and cities in locality

The pandemic levelled the playing field between PBSA and the student HMO market which was previously more popular with domestic students due to lower prices. But this discussion argued we should be looking at value rather than price.

TPMS - What can PBSA learn from HMOs seeing as the domestic students have loved living in that product for years? 

TPMS - Are institutional landlords really the example of the HMO model as they are basically run as PBSA but in houses rather than flats?

Panel Discussion: What impact can Smart Technology have on Operational Efficiency and Reducing Costs?

Speakers: Justin Harley (Regional Director, Yardi), Richard Skeels (Chief Executive Officer, CRM), Scott Berry, Finance & Commercial Director, Fresh), and Tim Pankhurst (Executive Director, CBRE)

As we toy with the concept of a smart sector, the industry sees opportunity to turn data into actionable insights that drive innovation and smart decision-making.

The role technology has played in operating assets and communicating with residents during the COVID crisis. 

Lessons the panel have learnt from the application of technology through the pandemic.

How they are rethinking the student experience.

TPMS – We learned from our Youth Forum that if there are efficiencies, students are savvy enough to want a benefit from these.

Spotlight Session: The Role of Technology in the next Generation Student Experience

Speakers: Meri Braziel (Chief Executive Officer, Glide), Matt Shakespeare (Managing Director - Operations, Study Inn) 

Sisi – service not just product diversity

Alternative uses for families, hybrid learning and travellers should be considered 

Modular builds are difficult to sell off-plan as look unfinished on the outside 

TPMS – Gone are the days when void units need to be that way for the whole year, there are lots of opportunities for flexibility as the demand from the tenant demands different contracts, products and services.