31st Jan 2025 12:03
Watkin Jones PLC - London-based student accommodation developer and manager - Agrees development partnership to deliver 260-unit Aparthotel in London's Southwark borough with an unnamed "leading" private investment group. The nine-story scheme is due to be delivered in 2027 and replaces a brownfield site on New Kent Road. Watkin Jones estimates project revenue of GBP36 million "at margins consistent with the firm's strategic approach".
Chief Executive Officer Alex Pease says: "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."
Current stock price: 32.96 pence each, up 4.8% early Friday afternoon in London
12-month change: down 33%
By Tom Budszus, Alliance News slot editor
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