Watkin Jones Secures Consent For Two Student Bed Portfolios

21st Mar 2018 12:19

LONDON (Alliance News) - Property developer Watkin Jones PLC said on Wednesday it has received planning consent for two student housing developments in Coventry and Sheffield.

The developer said it has received planning consent on Whitefriars Lane in Coventry for 778 student beds, which is due to be delivered for the start of the 2020-21 academic year.

In addition, a further site in Sheffield has been secured subject to satisfactory planning, which is expected to deliver 700 student beds ahead for the start of the 2021-22 academic year.

Commenting on the company as a whole, Watkins Jones said all the developments due for delivery ahead of the 2018-19 academic year and five of the seven schedules to be delivered for the 2019-20 academic year have been forward sold, with the remainder having received planning consent.

Watkin Jones's student accommodation development pipeline has now exceeded 9,800 beds with 8,300 beds having received planning consent.

"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," said Chief Executive Mark Watkin Jones.

Watkin Jones will release a trading update for the six-month period to the end of March on April 5.

Shares in Watkin Jones were up 0.4% at 184.40 pence on Wednesday.

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