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 today that it has forward sold another two of its developments to two institutional investors, both for undisclosed fees. The first development is situated on Bridge Street in Cardiff and the other is situated on Queen Street in Belfast.
The Cardiff development occupies a prominent position in Cardiff City Centre, and is located close to Cardiff Queen Street station. The 472 bed scheme is due for delivery in August 2018, ahead of the 2018-19 academic year. The Belfast development also occupies a prominent position in Belfast City Centre directly opposite John Bell House that was completed by Watkin Jones in August this year. This 340 bed scheme is also due for delivery in August 2018, ahead of the 2018-19 academic year.
Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc LON:WJG said: “We are delighted to announce today that we have forward sold our developments in Cardiff and Belfast to two institutional investors in purpose built student accommodation, which further underpins the visibility of our earnings and cashflow. The interest in the sector remains strong.”
