Lessons in estate management: How independent schools can use their assets

Independent schools: taking a strategic approach to long-term resilience

Independent schools are navigating a period of significant change. While the challenges vary from one institution to another, many are facing increasing pressures, including the introduction of VAT on fees, declining pupil numbers linked to falling birth rates, and the growing cost of maintaining ageing estates.

Against this backdrop, schools must continue to attract pupils, manage operating costs, and ensure their facilities meet the needs of both students and staff. For bursars and estate managers, taking a strategic view of property assets can play an important role in supporting long-term financial resilience.

This was a central theme of discussion at the recent ISBA Conference, attended by Carter Jonas, where a range of approaches were explored to help schools strengthen their position for the future.

Understanding the estate

Building resilience starts with understanding the estate in its entirety. A comprehensive review of property assets, their condition, value and potential, provides the foundation for informed decision-making and future planning.

Once there is a clear picture of the portfolio, schools can assess how their assets align with operational priorities and identify opportunities to adapt to changing circumstances. Whether responding to demographic shifts, financial pressures or evolving educational requirements, a well-informed estate strategy enables schools to plan with confidence.

For schools considering a merger as a response to falling enrolment, a detailed review and valuation of assets is particularly important. Understanding the condition, suitability and value of buildings can help identify where investment is required and whether parts of the estate may be surplus to requirements.

Similarly, schools exploring a transition from single sex to co-educational provision will need to consider the implications for their estate. Facilities may require adaptation to ensure they are fit for purpose and capable of supporting a broader student demographic.

Making the most of existing assets

While new development may form part of a school's long-term strategy, a thorough estate review can often reveal opportunities to improve, repurpose, or reconfigure existing buildings before new facilities are considered.

Assessing building condition should be a core element of any business plan. At the conference, delegates discussed the use of a simple traffic light system to categorise assets according to their condition and urgency of intervention. This approach can help schools prioritise investment and establish a clear programme of works.

Importantly, assets classified as being in good condition should not be overlooked. Planned maintenance remains one of the most cost-effective ways to protect value and avoid more significant expenditure arising from reactive repairs in the future.

Planning for change

The planning landscape continues to evolve, with potential changes to the National Planning Policy Framework (NPPF) and Green Belt policy likely to create both challenges and opportunities for some schools.

Maintaining an up-to-date masterplan can help ensure estates are prepared for future changes and capable of supporting long-term objectives. Forward planning also allows schools to respond more effectively as new opportunities emerge.

Current property valuations can prove equally valuable. Whether supporting borrowing for estate improvements, expansion projects or wider investment plans, up-to-date valuations provide important evidence for funding discussions and strategic decision-making.

Alongside this, planning appraisals can help schools better understand the development potential of individual assets, identifying opportunities for repurposing, conversion or, where appropriate, disposal.

Managing heritage assets responsibly

Many independent schools occupy historic or listed buildings that form an important part of their identity. While these assets can offer considerable character and appeal, they also require careful management.

Specialist heritage advice can help schools understand what changes are permissible and where Listed Building Consent may be required. This is particularly important when undertaking refurbishment, adaptation, or sustainability improvements, where regulations must be carefully considered to preserve the historic significance of the asset.

Unlocking additional income streams

For some schools, property assets can provide opportunities to generate additional income.

Disposing of underused buildings or land may release capital for reinvestment elsewhere in the estate. Alternatively, converting surplus space for commercial occupiers can create ongoing revenue streams while ensuring assets remain productive.

The conference also highlighted opportunities to maximise the use of existing facilities. Sports amenities, for example, can be opened to community groups or local organisations, helping to offset operating costs while strengthening community engagement. Shared use can also support planning applications for new facilities by demonstrating wider public benefit.

One example discussed was Stowe School, whose rugby facilities are used by Northampton Saints for pre-season training.

Outside term time, schools may also be able to generate income through alternative uses of their estate, including holiday accommodation, wedding venues, corporate events, or filming. In Bristol, for example, one school rents its entire campus to television production companies during the summer holidays.

For schools considering this route, Carter Jonas offers a specialist film location service to help unlock opportunities and manage the process.

Every school is different

There is no single solution to the challenges facing the independent school sector. Each school has its own priorities, constraints, and opportunities.

However, by taking a proactive approach to estate management, supported by robust property advice, schools can better understand their options, make informed decisions, and develop strategies that support long-term operational and financial sustainability.