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 given DirectorsTalk an update on the Group’s developments that have been completed ahead of start of the 2016/17 academic year.
In total Watkin Jones has completed ten developments across the UK with a total of 3,819 student beds. The breakdown of these completed developments is detailed in the table below:
|
Development |
No. of beds |
|
Heriot-Watt, Edinburgh |
450 |
|
Dunaskin, Glasgow |
504 |
|
Old Dumbarton Road 2, Glasgow |
128 |
|
Belle Vue, Leeds |
324 |
|
Bath Lane, Leicester |
601 |
|
Byrom Street, Liverpool |
398 |
|
Broad Lane, Sheffield |
397 |
|
New Bridewell, Bristol |
500 |
|
Brougham Hayes, Bath |
104 |
|
John Bell House, Belfast |
413 |
|
Total |
3,819 |
Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: “At the time of our AIM admission in March this year, we stated that our pipeline of development projects scheduled for completion before 31 August 2017 totalled 17. It is therefore pleasing to be able to update investors today that the Group has completed and handed over ten developments ahead of the current academic year and is very much on track to deliver the remaining seven ahead of the 2017/2018 academic year, in line with our expectations.
“We continue to add new sites to our strong development pipeline. Watkin Jones currently has 19 developments with 6,317 beds targeted for delivery during 2017 and 2018. An additional two sites are being acquired which will add a further 418 beds to 2018. The pipeline beyond this is looking positive with 2,000 plus beds across a number of sites having been secured. This pipeline provides the Group with strong visibility of earnings going forward and underpins our strategy in the short term.”
