Watkin Jones plc Build to rent development site secured in Woking (8052R)
05 März 2019 - 8:00AM
UK Regulatory
TIDMWJG
RNS Number : 8052R
Watkin Jones plc
05 March 2019
For immediate release 5 March 2019
Watkin Jones plc
('Watkin Jones' or the 'Group')
New build to rent development site secured in Woking
Watkin Jones plc (AIM:WJG), a leading UK developer and
constructor of multi-occupancy residential property assets, with a
focus on the student accommodation and build to rent sectors,
announces that the Group has acquired a prime development site in
Woking town centre from McKay Securities PLC with capacity for
approximately 350 build to rent apartments on a subject to planning
basis.
The proposed development will comprise a purpose-designed build
to rent scheme in which residents will benefit from high quality
accommodation and outstanding communal facilities, including a
resident's lounge and roof terrace. The scheme is also expected to
include new retail and leisure space. The development is expected
to deliver a margin in line with target returns and is targeted for
completion in FY 2024.
Richard Simpson, Chief Executive Officer of Watkin Jones, said:
"We are delighted to have secured a prime located build to rent
development site in Woking. The site exemplifies the Group's target
to secure opportunities in prime urban micro locations with great
access to amenities and transport links. Woking is an established
commuter town with a strong local economy and affluent demographic
which is benefiting from considerable inward investment. The
acquisition represents an important addition to the Group's secured
build to rent development pipeline."
- Ends -
For further information:
Watkin Jones plc
Richard Simpson, Chief Executive Tel: +44 (0) 1248 362 516
Officer
Phil Byrom, Chief Financial Officer www.watkinjonesplc.com
Peel Hunt LLP (Nominated Adviser & Joint Corporate Tel: +44 (0) 20 7418
Broker) 8900
Mike Bell / Justin Jones 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 Oldworth Tel: +44 (0) 20 7466 5000
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 residential property assets, with a focus on the
student accommodation and build to rent sectors. 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 38,000 student
beds across 117 sites, making it a key player and leader in the UK
purpose built student accommodation market. In addition, the Fresh
Property Group, the Group's specialist accommodation management
company, manages over 15,000 student beds and build to rent
apartments on behalf of its institutional clients. Watkin Jones has
also been responsible for over 80 residential developments, ranging
from starter homes to executive housing and apartments. The Group
is now expanding its 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
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END
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