WJG Watkin Jones Plc

Watkin Jones plc

('Watkin Jones' or the 'Group')

Development Partnership for 260-unit Aparthotel in Southwark

Watkin Jones, the UK's leading developer and manager of residential properties for rent, is pleased to announce it has agreed a development partnership to deliver a 260-unit Aparthotel in Southwark, with a leading private investment group.

The development will regenerate a brownfield site on New Kent Road. Upon completion, it will deliver a nine-storey scheme. The space will provide flexible living solutions and create a vibrant neighbourhood destination.

Over the course of the project, which is due to be delivered in 2027, the development is expected to generate revenue of approximately £36 million for Watkin Jones at margins consistent with our strategic approach.

Alex Pease, Chief Executive Officer of Watkin Jones, commented: 

"We are delighted to announce this development, which will supply high-quality accommodation as well as lifestyle spaces for the local community.

"This development partnership underscores our market-leading expertise in constructing residential for rent real estate. It demonstrates our ability to continue to be proactive in leveraging our skills and experience by being flexible in our approach, as we continue our strategy to diversify our income streams and broaden our offering."

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Notes to Editors

Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the build to rent, student accommodation and affordable housing 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 over 49,000 student beds across 147 schemes, making it a key player and leader in the UK purpose-built student accommodation market, and is increasingly expanding its operations into the build to rent sector. In addition, Fresh, the Group's specialist accommodation management business, manages over 16,800 student beds and build to rent apartments 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's competitive advantage lies in its experienced management team and capital-light 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