28th Aug 2018 12:11
LONDON (Alliance News) - Build-to-rent and student accommodation firm Watkin Jones PLC said on Tuesday it has agreed to buy a site in Wembley, north west London for an unspecified sum.
The site has been bought from Kelaty Propco Ltd, which is owned by Singapore-based Lum Chang Holdings Ltd and Sin Heng Chang Pvt Ltd.
Watkin Jones said the site has planning permission for a 599 bed student accommodation, and the company hopes to have this ready for the start of the 2021-22 academic year.
Watkin Jones also will develop 300 build-to-rent apartments on a next-door site, which should be completed by March 2021.
Shares in Watkin Jones were 0.7% higher on Tuesday at midday, at 196.20 pence apiece.
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