Watkin Jones plc Planning consent for BTR development (8346N)

TIDMWJG

RNS Number : 8346N

Watkin Jones plc

14 August 2017

 
For immediate release  14 August 2017

Watkin Jones plc

('Watkin Jones' or the 'Group')

Planning consent for BTR development

Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation and Build to Rent sectors, is pleased to announce that the Group has secured planning consent for a further Build to Rent ('BTR') development at Bath Lane in Leicester.

The significant 322 unit site will consist of 174 one bed units, 137 two bed units and 11 three bed units. The Group expects to commence work on the site in FY 2018 with a phased completion anticipated during FY 2019 - FY 2020.

As reported on the 1 June, the BTR pipeline continues to grow and there are now six schemes currently targeted for delivery over the period FY 2019 - 2021, with a number of planning applications and other site acquisition opportunities in negotiation.

Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: "We are delighted to announce the further progression of our BTR business. Our plan to sustainably grow this exciting element of the Group continues and we are pleased to see that opportunities from within the development pipeline are moving forward. We believe the BTR business will continue to drive growth, alongside our student accommodation business, as well as providing excellent visibility of earnings and cash flow."

- Ends -

For further information:

 
Watkin Jones plc 
Mark Watkin Jones, Chief                            Tel: +44 (0) 1248 362 
 Executive Officer                                   516 
Phil Byrom, Chief Financial                         www.watkinjonesplc.com 
 Officer 
 
Peel Hunt LLP (Nominated Adviser & Joint Corporate     Tel: +44 (0) 20 
 Broker)                                                7418 8900 
Mike Bell / Justin Jones / Matthew Brooke-Hitching    www.peelhunt.com 
 
 
Jefferies Hoare Govett (Joint Corporate Broker)       Tel: +44 (0) 20 
                                                       7029 8000 
Max Jones / Will Soutar                               www.jefferies.com

Media enquiries:

 
Buchanan 
Henry Harrison-Topham / Richard   Tel: +44 (0) 20 7466 5000 
 Oldworth 
 Jamie Hooper / Steph Watson 
watkinjones@buchanan.uk.com      www.buchanan.uk.com

Notes to Editors

Watkin Jones is a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector. The Group has strong relationships with institutional investors, and a good reputation for successful, on-time-delivery of high quality developments. Since 1999, Watkin Jones has delivered over 31,800 student beds across 98 sites, making it a key player and leader in the UK purpose built student accommodation market. In addition, Watkin Jones has been responsible for over 50 residential developments, ranging from starter homes to executive housing and apartments.

The Group's competitive advantage lies in its experienced management team and 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

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCOKDDNPBKDCFD

(END) Dow Jones Newswires

August 14, 2017 02:00 ET (06:00 GMT)

Watkin Jones (LSE:WJG)
Historical Stock Chart
From Jun 2024 to Jul 2024