Development Partnership for 200-unit PBSA scheme

Watkin Jones plc

('Watkin Jones' or the 'Group')

Development Partnership to deliver c.200 units PBSA scheme in Bristol

Watkin Jones is pleased to confirm it has signed a development partnership to deliver c.200 purpose-built student accommodation units (PBSA) located on Freestone Road, Bristol.

The scheme will transform a disused railway embankment into a vibrant new community, delivering high-quality student beds and contributing to the wider regeneration of the Bristol Temple Quarter Enterprise Zone. The transaction is expected to deliver revenue in excess of £28 million over the development period, with construction scheduled to complete ahead of the 2027 academic year.

This transaction is a further demonstration of Watkin Jones' diversification strategy and has been executed notwithstanding the ongoing difficult conditions for residential real estate development and construction.

Alex Pease, Chief Executive Officer of Watkin Jones, commented: 

"This project demonstrates our ability to implement our strategy to diversify our revenue streams. Whilst the market remains challenging, with constrained liquidity for new development, we are encouraged by the continued desire from institutional investors to partner with Watkin Jones to leverage our proven expertise in residential development and construction. We look forward to the successful delivery of this project."

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Notes to Editors

Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the build to rent, student accommodation and affordable housing sectors. The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high-quality developments.  Since 1999, Watkin Jones has delivered over 50,000 student beds across 147 sites, making it a key player and leader in the UK purpose-built student accommodation market, and is increasingly expanding its operations into the build to rent sector, where it has delivered 2,200 apartments across 12 schemes to date.  In addition, Fresh, the Group's specialist accommodation management business, manages c.20,000 student beds and build to rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments.

The Group's competitive advantage lies in its experienced management team and capital-light business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.

Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L.  For additional information please visit www.watkinjonesplc.com.

The Group's competitive advantage lies in its experienced management team and capital-light business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.

Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L.  For additional information please visit www.watkinjonesplc.com