Watkin Jones plc Update on Student Accommodation Developments

Watkin Jones Plc

Watkin Jones plc (LON:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation and build to rent sectors, confirms today that the Group has achieved planning consent on Whitefriars Lane in Coventry for 778 student beds which will be delivered ahead of the start of the 2020/21 academic year.

In addition, the Group has secured, subject to satisfactory planning, a further site in Sheffield which is targeted to deliver in excess of 700 student beds ahead of the start of the 2021/22 academic year. The growing momentum within the Group’s student accommodation development business has led to the student accommodation development pipeline exceeding 9,800 beds with over 8,300 beds having received planning consent.

All the developments due for delivery ahead of the 2018/19 academic year have been forward sold. Five of the seven schemes scheduled to be delivered ahead of the 2019/20 academic year have been forward sold, with the remainder now having received planning consent. Five developments, totaling 2,167 beds, scheduled to be delivered ahead of the 2020/21 academic year, have also now received planning consent.

Mark Watkin Jones, Chief Executive of Watkin Jones plc, said: “The excellent visibility in our student accommodation development business continues with this successful planning consent and further site acquisition. The demand for student accommodation remains high and this, coupled with the growing momentum in our build to rent development business, reinforces our confidence in our business model and the markets in which we operate.”

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