Watkin Jones plc Planning consent granted for site in Newcastle (6241J)
13 September 2016 - 4:00PM
UK Regulatory
TIDMWJG
RNS Number : 6241J
Watkin Jones plc
13 September 2016
For immediate release 13 September 2016
Watkin Jones plc
('Watkin Jones' or the 'Group')
Planning consent granted for Market Street, Newcastle
Analyst Site Visit
Watkin Jones plc (AIM:WJG), a leading UK developer and
constructor of multi occupancy property assets, with a focus on the
student accommodation sector, is pleased to announce that the Group
has received planning consent to progress with the redevelopment of
Northumbria Police's old headquarters in Newcastle's city
centre.
The proposed redevelopment of the former police station in
Market Street, consists of 225 beds (177 beds and 48 studios). The
total gross development value of the scheme is around GBP17
million. The development is anticipated to be completed in
2018.
Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc,
said: "We are very pleased to have secured planning consent for
this exciting development. Located in the city centre of Newcastle
with easy access to university campuses, local facilities and
public transport it is well positioned for student accommodation.
This latest scheme adds to our growing pipeline and further builds
our visibility around the Group's business model."
The Group also announces that it is today holding an analyst
site visit. The primary objective of the event is to provide
analysts with the opportunity to view two of the Group's
London-based developments and to meet the Group's management team
and learn more about the long term growth potential of Watkin
Jones. During this visit, no new material information will be made
available.
Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc,
added: "Today's site visit provides an excellent opportunity for a
City audience to experience first-hand two of our developments, one
of which is completed and the other currently under construction,
as well as gain an insight into our business as a whole."
- Ends -
For further information:
Watkin Jones plc
Mark Watkin Jones, Chief Tel: +44 (0) 1248 362
Executive Officer 516
Phil Byrom, Chief Financial www.watkinjonesplc.com
Officer
Zeus Capital Limited (Nominated Adviser
& Joint Broker)
Corporate Finance
Dan Bate / Nick Cowles / Jamie Peel Tel: +44 (0) 161 831
1512
Corporate Broking Tel: +44 (0) 20 3829
5000
Dominic King / Benjamin Robertson www.zeuscapital.co.uk
Peel Hunt LLP (Joint Broker) Tel: +44 (0) 20 7418
8900
Mike Bell / Matthew Brooke-Hitching www.peelhunt.com
Media enquiries:
Buchanan
Henry Harrison-Topham / Richard Tel: +44 (0) 20 7466
Oldworth / Jamie Hooper 5000
watkinjones@buchanan.uk.com www.buchanan.uk.com
Notes to Editors
Watkin Jones is a leading UK developer and constructor of multi
occupancy property assets, with a focus on the student
accommodation sector. The Group has strong relationships with
institutional investors, and a good reputation for successful,
on-time-delivery of high quality developments. Since 1999, Watkin
Jones has delivered over 28,000 student beds across 88 sites,
making it a key player and leader in the UK purpose built student
accommodation market. In addition, Watkin Jones has been
responsible for over 50 residential developments, ranging from
starter homes to executive housing and apartments.
The Group's competitive advantage lies in its experienced
management team and business model, which enables it to offer an
end to end solution for investors, delivered entirely in-house with
minimal reliance on third parties, across the entire life cycle of
an asset. Key components of the business model are:
-- Site identification - extensive experience of site
identification and acquisition facilitates high quality sites being
acquired;
-- Planning consents - in depth knowledge and experience of the
planning consent process specific to this type of asset facilitates
high success rates on planning applications;
-- In-house construction and delivery - in-house construction
expertise, management and delivery limits reliance on third parties
and, together with favourable contractual relationships with key
suppliers, enhances control of cost;
-- Funding structure - forward sale model reduces risk for
Watkin Jones and provides security and visibility of the asset
pipeline for investors. The Group has strong relationships with
blue chip investors, including a number that are repeat investors
in Watkin Jones developments; and
-- Asset management - dedicated property management division
provides a continued service solution to investors post development
completion and completes the 'end to end' business model.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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