An initiative led by British Land and Sutton Trust has been launched to tackle a lack of diversity in the UK property workforce.
Pathways to Property, run by the Reading Real Estate Foundation, aims to attract talented students from disadvantaged backgrounds into the £9bn property industry, which currently employs circa 100,000 people in the UK.
A four-day programme at the University of Reading played host to the first Pathways to Property summer school with 40 year-12 students from UK state schools learning about careers in property and real estate degrees offered at the University of Reading.
The students were also able to meet industry professionals during visits to a number of sites in the local area which include The Oracle , Reading Station and Green Park , and listened to a talk delivered by Reading borough council.
After the summer school participants will receive a mentor and will have the opportunity to apply for a week of paid work experience.
The property industry is well-known for suffering from a lack of diversity, with the vast majority of students who study real estate being either privately educated or benefiting from family connections already in the sector.
BL chief executive Chris Grigg said: “There is a convincing amount of evidence from right around the world that businesses succeed better over time if they represent and to some extent ‘mirror’ their stakeholders.
“Today, the property industry, like it or not, is something of a laggard in this regard and I worry that we will suffer, not least economically, unless we address the matter.”
The Sutton Trust programme’s director, James Turner, said: “The Sutton Trust believes that careers in real estate and property – which are important, rewarding and interesting – should be open to bright young people from a wide range of backgrounds.”
Reading Real Estate Foundation executive director Nicole Gillham added: “We hope other companies and universities will follow suit to help strengthen the long-term sustainability of professional skills and expertise in the industry.”
Firms pledging financial and other commitment to the initiative include BNP Paribas Real Estate, CBRE, Cushman & Wakefield, DTZ, Gerald Eve, Jones Lang LaSalle, Knight Frank, Lambert Smith Hampton, Savills, Strutt & Parker, The Crown Estate, Colliers International and Redevco.
nick.whitten@estatesgazette.com
