Anotherjohn, an £8,700 increase on £22k is around 70%. If it fell from £31k to £22k, it would be a fall of 38%.

Regardless of what the local market rates are, a rent hike of 70% would likely massively affect the profitability of any business. I'm absolutely sure that the costs to Dulwich Estates have not risen in the last 5-10 years as inflation has been near zero for a long time and therefore the only justification for this rent increase is profit. Regardless of the bursaries supplied to kids (the social value of which can be debated), the fact is that the school has a limited number of places and is unlikely to expand massively. I suspect all this free money that the landlords are intending to acquire will be spent on improving the facilities for current pupils and reducing the need for increased fees. Or, just as likely, will go towards the commission the estate manager receives.