SECTOR FOCUS: PROPERTY


Plymouth’s students are good for the economy


Plymouth’s £305m-a-year student sector is vital to the local economy and now arguably the largest employer in the city, says the Chief Executive of Clever Student Lets, Henry Hutchins. Mr Hutchins, said: “The dramatic change the


student economy has made in the heart of the city centre where rows of shops lay empty for years, are now full, with students spending large amounts of money in them. “We’re talking an exciting regeneration,


cultural revolution, and a major transformation of Plymouth not seen since the blitz of the city in 1941, with new builds springing up all across the city.” Clever Student Lets carried out Devon’s first


ever research into the student economy with Santander Bank and the University of Plymouth, looking at the impact the multi-million sector has on Plymouth’s economy. Research revealed that 31,654 students living


in rented or home accommodation in Plymouth is worth over £305,559,934 every year, with foreign students bringing in over £34m bonanza to the city annually too. CSL has grown a minimum of 20% every year


over the past ten years, and the largest student accommodation provider south of the M4, and manages over 3,000 housing units, and the biggest single office in the UK, said Mr Hutchins.


“We won the Sunday Times top UK Student


Lettings Award 2016 for our innovation services and customer services. “We work with over 30 providers including landscaping businesses, decorators, maintenance crews, cleaners, locksmiths, IT, pest control, waste removals, roofing specialists, security companies and many others.” CSL recently organised a unique promotional


drone video to highlight the rise of the county’s ‘white van entrepreneurs’ servicing Plymouth’s student economy sector that is worth over £60m a year. Meanwhile, Clever Student Lets welcomes the


British Government’s review into the costs and benefits of overseas students studying in the county by the Home Office. The move follows


warnings by Devon businesses and education providers that say classing students as long-term migrants is deterring young people from coming to the South West region to study, and damaging the city’s successful student economy sector, added Mr Hutchins.


‘Clever


Student Lets carried out


Devon’s first ever research into the student economy’


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www.mblettings.co.uk 22 Chamber Profile November/December 2017


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