Capital Programme
To support ongoing development of its core business, the University actively invests in both the estate and equipment. In order to aid financial planning, ensure that investment is in accordance with the University's Strategic Plan and is affordable, capital spending requirements are assessed over a three to five year period.
The University's recent submission under the Capital Investment Framework 2 has resulted in capital funding from HEFCE for 2012/13. Together with capital expenditure from the University's own reserves these funds will be used to develop the estate, enhance the student experience and adapt to the changing nature of student learning. A significant proportion of the funds have been used to refurbish student residences, classrooms and the library.
During 2009/10 the University acquired a parcel of land adjacent to the city campus at East Park Terrace and has completed the purchase of a second site which ajoins it. This has been a long-term aspiration of the University and will facilitate the next phase of the estate development to create modern, high performing, and flexible learning and teaching accommodation.
Timsbury Lake, which is a 9-10 acre man-made lake set in 25 acres of private woodland was purchased during 2008/09. The site has been developed to house the WMA Manned Model Centre and is due to be officially opened in June 2011.
During the year 2009-10 amounts capatalised as land and buildings totalled £1.9 million and additions to equipment were £2.2 million.