Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: “We are delighted to have secured planning consent for this latest scheme in our pipeline which builds our visibility around our business model. We expect to be on site towards the end of 2016 and complete the scheme in 2019.”
Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, has told DirectorsTalk that the Group has received planning consent to progress with the redevelopment of Duncan House in Stratford.
The proposed redevelopment of Duncan House, which is located in Stratford High Street E15, consists of 511 beds (420 beds and 91 studios), 44 residential units and 30,000 square feet of academic space. The total gross development value of the scheme is around GBP100 million. Watkin Jones is in advanced negotiations with University of London (“UoL”), one of the world’s most prestigious academic institutions and their funding partners, to forward sell the student part of the Duncan House scheme as per the Group’s business model. The residential units will be sold in a separate transaction by Watkin Jones. The development is anticipated to be completed in 2019.
