11th Mar 2019 10:19
LONDON (Alliance News) - Watkin Jones PLC on Monday said it completed the forward sale of a purpose-built student accommodation development in Wembley to the real estate investment business of DWS.
The UK developer and constructor will initially receive GBP90 million for the development site, net of all client funding and acquisition costs.
The completed scheme, which will be managed by Watkin Jones's asset manager Fresh Student Living, will be delivered in time for the 2021-2022 academic year.
The Wembley PBSA scheme has a planning consent for 599 student beds with associated amenity and management space. It also includes a retail offering and substantial landscaped external communal area.
Watkin Jones shares were trading up 0.2% at 225.00 pence each.
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