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Watkin Jones plc (WJG)

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Tuesday 28 August, 2018

Watkin Jones plc

Update on Student Accommodation and Build to Rent

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 Officer

Tel: +44 (0) 1248 362 516

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

Jamie Hooper / Steph Watson / Catriona Flint

 

Tel: +44 (0) 20 7466 5000

[email protected]

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 London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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