15th Dec 2025 17:18
(Alliance News) - Watkin Jones PLC on Monday said it has agreed to add a high-quality purpose-built student accommodation development opportunity in Bristol into its joint venture with Maslow Capital.
The London-based residential for rent developer and operator said the transaction will have an estimated gross development value of approximately GBP102 million upon completion of the development.
Watkin Jones expects it to deliver a cash inflow of around GBP2 million in financial 2026, as well as generate a secured revenue of approximately GBP55 million over the course of its three-year construction period.
The development is on Malago Road in Bedminster and will comprise 484 beds across three blocks.
The transaction is conditional on building work approval, which is expected during the first half of financial 2026, with completion of the PBSA targeted in time for the start of the 2028/29 academic year.
The transaction would be the second scheme in the joint venture between Watkin Jones and Maslow, following an earlier collaboration on a 784-bed PBSA scheme, The Ard, in Glasgow in September.
"This transaction reflects our strategy to deepen relationships with institutional capital and deliver sustainable growth in the UK's most attractive student markets," said Chief Executive Alex Pease.
"Bristol's strong fundamentals and connectivity make it a key location, and this scheme will reinforce our leadership in providing best-in-class accommodation that meets evolving student expectations while supporting our long-term value creation objectives."
Shares in Watkin Jones closed up 4.2% at 27.60 pence on Monday in London.
By Roya Shahidi, Alliance News reporter
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