The funding, allocated for the financial years from 2022-23 to 2024-25, consists of £399 million awarded through a bidding exercise and an allocation of £11 million each year to be distributed on the basis of a formula.
The OfS has also awarded £57 million to world-leading specialist higher education providers in England.
Successful capital bids demonstrated value for money, effective project management and environmental sustainability. Bids also demonstrated how they met one or more priority categories. These were:
- Category one: High-cost subjects of strategic importance. These subjects include laboratory-based subjects in science, technology and engineering, and healthcare disciplines in medicine, dentistry, nursing, midwifery and allied health professions, veterinary science and archaeology
- Category two: Enhancement of graduate employability and skills needs of employers and industry and therefore local and regional economies, in particular in supporting technical provision at Levels 4 and 5
- Category three: Part-time and other forms of flexible provision to include the development of higher education short course study.
Funding through the competitive bidding process has been provided to 100 universities, colleges and other higher education providers. Of these, 47 were awarded the maximum amount of £5.8 million per provider. The OfS received 203 bids requesting a total of £830 million.
The OfS has also awarded £57 million to world-leading higher education providers, that specialise in areas including clinical subjects, agriculture, business, and creative and performing arts. These universities and colleges were considered by an independent panel comprised of experts from various fields.
Susan Lapworth, chief executive of the OfS, said:
‘Investing in modern buildings and innovative equipment will help universities and colleges in England prepare students for their future careers. Modern laboratories and state of the art technology mean students learn with the best facilities. Our investment will also increase the provision of short courses that offer flexibility to boost the skills of the workforce.
‘Competition for funding was strong, with high quality applications from across the sector. The OfS-funded capital projects will ensure current and future students have a positive experience while studying expensive-to-deliver subjects that are strategically important to society. Taxpayers will feel these benefits too, as our investment will boost local and regional economies and support environmental sustainability.’