19th Jun 2026 07:02
(Alliance News) - Watkin Jones PLC on Thursday noted that its Refresh segment had secured work on a purpose-built student accommodation scheme in Reading.
The London-based property developer has been appointed by London-based investment manager Aprirose Ltd to refurbish the Central Studios property in Reading. This is a 141-studio site which Aprirose acquired last year.
"The upgrade programme being delivered by Refresh is focused on enhancing the functionality, utilisation and overall appeal of the asset through targeted, cost-effective improvements. Works include the soft refurbishment of studios, improvements to circulation spaces and a full reconfiguration of amenity and reception spaces, unlocking underutilised space and aligning the scheme to modern PBSA expectations," Watkin explained.
Work began in March and will be phased through the summer.
Andy Thorne, Watkin's technical services director, commented: "Central Studios is a strong example of how targeted refurbishment and clear, well-planned reconfiguration can reposition an operational PBSA asset. The focus has been on improving how the space works day-to-day for residents, while delivering upgrades that support long-term value for our client, all without disrupting ongoing operations.”
Sameer Gheewala, vice president of Asset Management at Aprirose, added: "We acquired Central Studios last year as we were attracted to the limited future PBSA supply in Reading, the fact the asset was established with strong occupancy and high re-booker rates and the clear asset management opportunities it presented through future refurb, cost reduction and lease regearing."
Watkin shares closed 0.7% lower at 19.52 pence on Thursday in London.
By Holly Munks, Alliance News reporter
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