Watkin Jones plc Planning Update on Developments (7742A)
03 Januar 2018 - 8:00AM
UK Regulatory
TIDMWJG
RNS Number : 7742A
Watkin Jones plc
03 January 2018
For immediate release 3 January 2018
Watkin Jones plc
('Watkin Jones' or the 'Group')
Planning Update on 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, is pleased to
announce the receipt of a number of planning consents during
December 2017.
Student Accommodation
Building on momentum gained in the 2017 financial year, Watkin
Jones confirms it has achieved planning consent for two student
accommodation developments in London. The first of these is for a
283 bed development at Albion Way in Wembley. The second scheme is
a 353 bed development at Forest Road in Walthamstow, close to the
Group's Mannequin House site which was successfully completed in
August 2017. In addition to the London schemes, the Group has also
secured planning consent for a 323 bed development in Chester. All
of the above-mentioned student accommodation developments are
anticipated to be completed in 2020 ahead of the 2020-21 academic
year.
General momentum within the Group's student accommodation
division is excellent, with the overall current pipeline standing
at 9,120 beds, of which 6,090 beds are forward sold and 7,497 have
achieved planning consent.
Build to Rent
The build to rent division continues to progress well and Watkin
Jones is pleased to announce that it has secured planning consents
on three developments. These encompass 147 units at the Group's
site at Holdenhurst Road, Bournemouth, an increase from 132 to 165
units on its Sutton site and 62 units on its site at Stepney
Street, Sheffield adjacent to its completed 78 unit scheme.
In addition to the progress made on these three sites, the Group
is pleased to announce that it has exchanged contracts on a build
to rent development site in Uxbridge, which subject to planning
consent, will deliver approximately 270 units.
Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc,
said: "The Group is continuing to deliver in the UK student
accommodation sector and these schemes will increase our presence
in key markets nationally, including our first site in West
London.
"Build to rent is progressing well and we are extremely pleased
with this division's performance in its maiden year. The additional
planning consents and securing of the site in Uxbridge strengthens
our pipeline as we continue to target the development of
approximately 1,500 units between FY18 and FY22."
As previously announced, the Group will be issuing its Final
Results on Monday, 15 January 2018. An analyst briefing will be
held at 09.30hrs at the offices of Buchanan, 107 Cheapside, London
EC2V 6DN.
- 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 Adviser & Joint Corporate Tel: +44 (0) 20
Broker) 7418 8900
Mike Bell / Justin Jones / Matthew Brooke-Hitching www.peelhunt.com
Jefferies Hoare Govett (Joint Corporate 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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