Watkin Jones plc Update on Student Accommodation Developments (3575I)
March 21 2018 - 2:00AM
UK Regulatory
TIDMWJG
RNS Number : 3575I
Watkin Jones plc
21 March 2018
For immediate release 21 March 2018
Watkin Jones plc
('Watkin Jones' or the 'Group')
Update on Student Accommodation 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, confirms that the
Group has achieved planning consent on Whitefriars Lane in Coventry
for 778 student beds which will be delivered ahead of the start of
the 2020/21 academic year.
In addition, the Group has secured, subject to satisfactory
planning, a further site in Sheffield which is targeted to deliver
in excess of 700 student beds ahead of the start of the 2021/22
academic year. The growing momentum within the Group's student
accommodation development business has led to the student
accommodation development pipeline exceeding 9,800 beds with over
8,300 beds having received planning consent.
All the developments due for delivery ahead of the 2018/19
academic year have been forward sold. Five of the seven schemes
scheduled to be delivered ahead of the 2019/20 academic year have
been forward sold, with the remainder now having received planning
consent. Five developments, totalling 2,167 beds, scheduled to be
delivered ahead of the 2020/21 academic year, have also now
received planning consent.
Mark Watkin Jones, Chief Executive of Watkin Jones plc, said:
"The excellent visibility in our student accommodation development
business continues with this successful planning consent and
further site acquisition. The demand for student accommodation
remains high and this, coupled with the growing momentum in our
build to rent development business, reinforces our confidence in
our business model and the markets in which we operate."
The Group with be issuing its Pre-Close Trading Update for the
half year ended 31 March 2018 on Thursday, 5 April 2018.
- 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
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 Tel: +44 (0) 20 7466 5000
Oldworth
Jamie Hooper / Steph Watson
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 company news service from the London Stock Exchange
END
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