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 Northumbria Police’s old headquarters in Newcastle’s city centre.
The proposed redevelopment of the former police station in Market Street, consists of 225 beds (177 beds and 48 studios). The total gross development value of the scheme is around GBP17 million. The development is anticipated to be completed in 2018.
Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: “We are very pleased to have secured planning consent for this exciting development. Located in the city centre of Newcastle with easy access to university campuses, local facilities and public transport it is well positioned for student accommodation. This latest scheme adds to our growing pipeline and further builds our visibility around the Group’s business model.”
The Group also announces that it is today holding an analyst site visit. The primary objective of the event is to provide analysts with the opportunity to view two of the Group’s London-based developments and to meet the Group’s management team and learn more about the long term growth potential of Watkin Jones. During this visit, no new material information will be made available.
Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, added: “Today’s site visit provides an excellent opportunity for a City audience to experience first-hand two of our developments, one of which is completed and the other currently under construction, as well as gain an insight into our business as a whole.”
