THE Australian National University (ANU) is exploring interest in outside investment in its student accommodation to help fund an improvement and expansion of student accommodation and student facilities at the University.

Vice-Chancellor Brian Schmidt says successful investors would need to also fund additional student accommodation as required, to help the University meet the strong demand for on-campus accommodation.

“The proposal would give investors a 30-year financial concession, or lease arrangement, over some student accommodation but would not be a privatisation of accommodation,” Brian said.

“The University will maintain control of student accommodation operations and rent controls.

“The proposal follows extensive consultations and a survey of 4,800 residential students in 2015, which found a pressing need to upgrade existing facilities and build more student accommodation.

“Improving and providing more student accommodation on campus is one of the University’s highest priorities.

“Students have told us what is important to them, and we are exploring outside interest with these concerns front of mind.

“We cannot meet demand for accommodation on campus at the moment, and we estimate more than 1,500 students who wanted to live on campus in 2016 were not able to be accommodated.”

Around 5,000 students currently live in student accommodation.

Professor Schmidt said living on campus was a vital part of the University experience for many students.

Discussions with investors are around nine ANU residences: the new SA5 building currently under construction, Burton & Garran Hall, Graduate House, Toad Hall, Ursula Hall, Davey Lodge, Lena Karmel Lodge, Kinloch Lodge and Warrumbul Lodge. Those residences can accommodate 3,760 students.

Bruce Hall and Fenner Hall have been excluded from the current discussions with investors.

The University is simultaneously designing a major redevelopment of Bruce Hall, intended to open in 2018. Fenner Hall, which is off the main campus, will be relocated to the new SA5 accommodation development at the beginning of 2018.

Professor Schmidt said the University would remain responsible for student admissions to residences, and for all matters related to pastoral care, student safety and security.

The University will also ensure room rental increases are limited to the Consumer Price Index and will be maintained at or below 75 per cent of market rates.

ANU will also continue to be responsible for IT access and infrastructure, and will prescribe strict maintenance standards.

“Feedback we have from students and residential alumni tell us that pastoral care, the unique culture of each residence, safety and security, cost and standard of accommodation are all critical and need to be guaranteed,” Professor Schmidt said.

ANU has appointed Flagstaff Partners as advisers for the process. Investment proposals will close on 27 May, 2016.

“ANU is committed to making sure students who live on campus have access to the best quality accommodation and can contribute to the life and culture of the University,” Professor Schmidt said.