Will bricks and mortar save universities?

Despite some return of international students from December 2021, times remain tough at Australia's universities.

The pandemic has severely impacted the bottom line of the tertiary sector, with a massive ongoing revenue shortfall from absent international students, as discussed in our Higher Education Insight ² from September 2021. The ongoing shortfall means universities still have to radically rethink their economic futures.

Australian universities have historically explored real estate opportunities on a limited or 'tactical' basis, but the immediate revenue crisis has prompted many to consider their large real estate holdings as a lifeline. Real estate decision-making has elevated from the facilities department to Vice Chancellors, Chancellors and their committees.