Watkin Jones plc Planning consent granted for Hunter Street,Chester (5049K)
22 September 2016 - 8:01AM
UK Regulatory
TIDMWJG
RNS Number : 5049K
Watkin Jones plc
22 September 2016
For immediate release 22 September 2016
Watkin Jones plc
('Watkin Jones' or the 'Group')
Planning consent granted for Hunter Street, Chester
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 development of
land currently being used as a car park on Hunter Street in
Chester, Cheshire.
The development of Hunter Street will consist of 77 beds. The
total gross development value of the scheme is around GBP6.5
million. The development is anticipated to be completed in the
summer of 2018. This adds to the 330 student beds already being
developed in Chester, by Watkin Jones for delivery during the
summer of 2017.
Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc,
said: "The Group is delighted to have secured planning consent for
this new development. This development when completed, will service
students at the University of Chester and the University of Law and
we are pleased to have added the Hunter Street site to our already
impressive portfolio in Chester. The look and appearance of the
development will be modern however we will ensure the selected
materials will be reflective of the overall character and
appearance of the area. The demand for student accommodation is
growing and this latest scheme adds further validation to our
business model."
- 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 5000
Oldworth / Jamie Hooper
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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