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Insert/Update Job Code and Date Reading Real Estate Foundation Pathways to Property 2013–2014 Supported by British Land and The Sutton Trust Pathways to Property Project Report Executive summary Pathways to Property was established in 2012 with the week work placements within real estate firms and nearly aim to widen access to the real estate profession by raising 25% of students from the first Summer School are now awareness of real estate as a subject of study amongst studying a property related degree at university. academically able pupils from disadvantaged and non- In its third year the initiative is expanding its activities to traditional backgrounds. Led by Reading Real Estate reach out to a larger audience of teachers, careers advisors Foundation (RREF) with support from British Land, The and sixth-form students, focusing on regional hubs across Sutton Trust and a number of key real estate firms, the the UK , through increased communications, school visits, project is targeted at lower and upper sixth form students National Careers Shows and bespoke teacher events. This (16-17 year olds) to raise aspirations about a career in real will allow the project to attract the 100 brightest students estate through a series of initiatives both in and out of from targeted areas (low progression to university, areas the classroom. of high deprivation and across a broad spectrum of social, Support from 23 real estate and other firms has so far ethnic and gender diversity) to the 2015 Summer School provided funding to allow the programme to reach out to and on to study property at University. over 2,000 students, teachers, parents and careers advisers Pathways to Property is also working in collaboration with to introduce them to the idea of a career in property. Of a number of other initiatives including Changing the Face of those, 135 students have been able to attend Summer Property, Property Week’s Open Plan, RICS Surveying the Schools where academic activities, site visits and talks from Future and RTPI Future Planners programme to ensure the industry experts have sparked their interest in a career in diversity issue is top of the industry’s agenda. property. Fifty two of these students have taken up one 2013 2014 In 2013 40 students participated in the first Summer In 2014 95 students participated in the annual Summer School School. completed a work experience place- ment in a real estate firm 50% had no prior exposure to the 86% industry of attendees applied and were offered a place to study Real Estate & had no family history of attending 30% Planning at the University of Reading 77% university of those… have accepted and enrolled at the 25% University of Reading for 2014/15 44% were female have accepted and enrolled onto re- 40% lated programmes at other universities in the UK for 2014/15 indicated they would be interested in 70% pursuing a career in property of students described the Summer School as 99% having met or exceeded their expectations 2 October 2014 Project background It is acknowledged that the real estate industry has long suffered from a lack of diversity and this has been reflected in the applications to study real estate at university. There is a lack of awareness and understanding of the profession and the potential career prospects in all but a minority of schools and able students from less advantaged and non-traditional families are not being exposed to these opportunities. Since the project was launched in November 2012 , RREF, with the support of the Project Board, has been able to secure over £800,000 to support the delivery of the initiative over five years. Pathways to Property and its supporters, including British Land and The Sutton Trust, continues to lead the debate on diversity in the real estate sector. Our aim is to make a meaningful change to the make-up of the cohort of students at the University of Reading and the property industry. However this is a long term project ‘I have long been aware how lucky I was to find which aims for a steady and sustainable growth of students on the programme each year to ensure the brightest and an exciting career in Property when noone in most needful students are being encouraged to enter the my home or school knew anything about it. As property industry. a RREF Trustee and Chair of the Project Board I Project aims: am delighted that we are now in a position to 1 To increase the diversity of applications to the change this and I am determined to spread the University of Reading Real Estate & Planning degrees by word in state schools.’ promoting the attractions of a career in the property Alan Froggatt, Principal, Touchstone Advisers: Chair, Pathways industry to students from State schools, focusing on to Property Board and RREF Trustee an annual Summer School. Priority at the Summer School will be given to academically gifted pupils from ‘Pathways to Property is an important part disadvantaged and non-traditional backgrounds. 2 To encourage interest in a Property career amongst of the Sutton Trust’s mission to widen access talented students from all backgrounds by increasing to the most competitive and sought-after the effectiveness of communications between the careers. It is supporting dozens of state school industry and students. students each year to recognise the possibilities of a career in real estate - and is helping the property sector to access the brightest and best young people, regardless of background.’ James Turner, Director of Programmes, The Sutton Trust 3 Pathways to Property Project Report Thank you Principal donors British Land and The Sutton Trust, along with 23 other real estate firms have provided funding, volunteers, guidance, expertise, contacts and support for Pathways to Property, without which we would not have been able to achieve our goals in these first two years. Thank you to the following firms for About British Land: British Land is one of Europe’s largest their financial support publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality commercial Gold Level property, focused on retail locations around the UK and London Offices & Residential. We have total assets in the British Land (since 2012) UK, owned or managed of £17.6 billion (British Land share The Sutton Trust (since 2012) of which is £11.9 billion), as valued at 31 March 2014. Our properties are home to over 1,000 different organisations Silver Level and receive over 300 million visits each year. Our objective is to deliver long-term and sustainable total returns to our UPP Group (since 2014) shareholders and we do this by focusing on Places People Prefer. People have a choice where they work, shop and Bronze Level live and we aim to create outstanding places which make a Allsop (since 2014) positive difference to people’s everyday lives. Our customer orientation enables us to develop a deep understanding of Aubrey Orchard-Lisle Charitable Trust (since 2014) the people who use our places. We employ a lean team of BNP Paribas Real Estate (since 2012) experts, who have the skills to translate this understanding Carter Jonas (since 2014) into creating the right places, and we have an efficient capital structure which is able to effectively finance these Colliers International (since 2013) places. Further details can be found at: The Crown Estate (since 2012) www.britishland.com Cushman & Wakefield (since 2012) About The Sutton Trust: The Sutton Trust was founded in 1997 by Sir Peter Lampl with the aim of promoting social CBRE (since 2012) mobility through education. It has funded a wide range DTZ (since 2012) of access projects in early years, school and university settings, with a focus on research, policy and innovative The Ellis Campbell Group (since 2014) practical projects with a system-wide relevance. The Trust Gerald Eve (since 2012) exists to combat educational inequality and prevent the Gooch Cunliffe Whale (since 2014) subsequent waste of talent. It is particularly concerned with breaking the link between educational opportunities Hammerson (since 2014) and family background, and in realising a system in which JLL (since 2012) young people are given the chance to prosper, regardless of their family background, the school they happen to attend Knight Frank (since 2012) or the area in which they live. Since 1998 the Trust and Lambert Smith Hampton (2012–13) its partners have committed £40 million to educational access projects and research. Further details can be found Oxford Properties (since 2014) at: www.suttontrust.com Redevco (since 2013) Savills (since 2012) SEGRO (since 2014) Strutt & Parker (since 2012) Vail Williams (since 2014) 4 October 2014 Over 70 volunteers from industry, both in business and HR, have given their time to : • Inspire students during school talks and at careers fairs • Visit the 2014 Summer School • Engage with students and teachers at the Teacher Engagement Event • Write articles and publications • Promote the project within their networks • Encourage and co-ordinate other volunteers to participate. Support given during the 2014 Summer School • UPP Group: student accommodation • Oxford Properties, Hammerson and The Crown Estate: site visits to Green Park, The Oracle and Windsor Great Park • British Land,CBRE, Cushman & Wakefield, Knight Frank, Prudential and Strutt & Parker: allowing staff to volunteer their time and help students with their group work and presentations. Companies that provided work experience placements for students Colliers International LSH The Crown Estate SEGRO 5 Pathways to Property Project Report The Pathways to Property Reading Real Estate Project Board Foundation The Board provides vital strategic guidance Supporting education, forging links, and support to the Pathways team and building futures includes alumni, academics from the School RREF is a unique and forward-thinking educational charity, established to support real estate and planning education of Real Estate & Planning, representatives at the University of Reading.
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