REG - Watkin Jones plc - Development Partnership for 260-unit Aparthotel

Watkin JonesAnnouncement

31/01/2025 10:00

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RNS Number : 4705V  Watkin Jones plc  31 January 2025

 31 January 2025

 

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."

 

- Ends -

 

For further information:

 Watkin Jones plc
 Alex Pease, Chief Executive Officer                        Tel: +44 (0) 20 3617 4453
 Simon Jones, Chief Financial Officer                       www.watkinjonesplc.com

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 Adam McGhin, Chief Legal Officer & Company Secretary

 Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker)                                                                                                                                     Tel: +44 (0) 20 7418 8900
 Mike Bell / Ed Allsopp                                                                                                                                                                         www.peelhunt.com
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Media enquiries:

 MHP Group (Watkin
 Jones)
   Tel: +44 (0) 7770 753544

 Reg Hoare, Rachel Farrington, Charles
 Hirst
  Email: watkinjones@mhpgroup.com (mailto:watkinjones@mhpgroup.com)

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
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