Watkin Jones plc Update on Student Accommodation and Build to Rent (8774Y)
28 August 2018 - 4:00PM
UK Regulatory
TIDMWJG
RNS Number : 8774Y
Watkin Jones plc
28 August 2018
For immediate release 28 August 2018
Watkin Jones plc
('Watkin Jones' or the 'Group')
Update on Student Accommodation and Build to Rent
developments
Watkin Jones plc (AIM:WJG), a leading UK developer and
constructor of multi occupancy property assets, with a focus on the
student accommodation and build to rent sectors, announces that is
has exchanged contracts to acquire a site in Wembley, London from
Kelaty Propco Limited (a joint venture ultimately owned by
Singapore incorporated Lum Chang Holdings Limited and Sin Heng
Chang Private Ltd) (the 'Vendor'). The site benefits from an
existing planning consent for a 599 bed student accommodation
scheme, which will be developed by the Group for delivery in time
for the 2021/22 academic year.
In addition, as part of the arrangement, the Group has entered
into a development agreement with the Vendor to deliver 300 build
to rent apartments on an adjoining site, to be completed in March
2021.
The securing of this opportunity in Wembley represents a
significant addition to the Group's FY 2021 student accommodation
and build to rent delivery pipelines.
- Ends -
For further information:
Watkin Jones plc
Mark Watkin Jones, Chief Executive Tel: +44 (0) 1248 362 516
Officer
Phil Byrom, Chief Financial Officer www.watkinjonesplc.com
Peel Hunt LLP (Nominated Advisor & Joint Broker) Tel: +44 (0) 20 7418
8900
Mike Bell / Justin Jones www.peelhunt.com
Jefferies Hoare Govett (Joint Broker) Tel: +44 (0) 20 7029
8000
Max Jones / Will Soutar www.jefferies.com
Media enquiries:
Buchanan
Henry Harrison-Topham / Richard Oldworth Tel: +44 (0) 20 7466 5000
Jamie Hooper / Steph Watson / Catriona
Flint
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 and build to rent sectors. The Group has strong
relationships with institutional investors, and a reputation for
successful, on-time-delivery of high quality developments. Since
1999, Watkin Jones has delivered more than 34,500 student beds
across 107 sites. In addition, Fresh Property Group, the Group's
specialist accommodation management company, manages more than
16,000 student beds on behalf of its institutional clients. Watkin
Jones has also been responsible for over 50 residential
developments, ranging from starter homes to executive housing and
apartments. The Group is now expanding its development and
management operations into the build to rent sector.
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.
Watkin Jones was admitted to trading on AIM in March 2016 with
the ticker WJG.L. For additional information please visit:
www.watkinjonesplc.com.
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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