Welsh student housing company wins planning consent for London sites
PROPERTY development firm Watkin Jones has secured planning consent for two student accommodation developments in London.
The first of these is for a 283-bed development at Albion Way in Wembley. The second scheme is a 353-bed development at Forest Road in Walthamstow, close to the group’s Mannequin House site which was completed last August.
In addition to the London schemes, the group has also secured planning consent for a 323-bed development in Chester.
All the latest its student accommodation developments are anticipated to be completed in 2020 ahead of the 2020-21 academic year.
In a trading update, the Bangorbased business, which is listed on London’s Alternative Investment Market, said its student accommodation division is in a strong place, with the overall current pipeline standing at 9,120 beds, of which 6,090 beds are forward sold and 7,497 have achieved planning consent.
It also said that its build to rent division continues to progress well, with planning consents on three developments. These encompass 147 units at the group’s site at Holdenhurst Road, Bournemouth, an increase from 132 to 165 units on its Sutton site and 62 units on its site at Stepney Street, Sheffield adjacent to its completed 78 unit scheme.
The group has confirmed it has also exchanged contracts on a build to rent development site in Uxbridge, which subject to planning consent, will deliver approximately 270 units.
Watkin Jones’ chief executive Mark Watkin Jones said: “The group is continuing to deliver in the UK student accommodation sector and these schemes will increase our presence in markets nationally, including our first site in west London. Build to rent is progressing well and we are extremely pleased with this division’s performance in its maiden year.
“The additional planning consents and securing of the site in Uxbridge strengthens our pipeline as we continue to target the development of approximately 1,500 units between [financial year] 2018 and 2022”
Watkin Jones will issue its latest financial results on January 15. Since 1999 the firm, which floated on AIM last year, has delivered more than 34,500 student beds across 107 sites.
In addition, Fresh Property Group, Watkin Jones’ specialist accommodation management company, manages more than 16,000 student beds on behalf of its institutional clients.
Watkin Jones has also been responsible for more than 50 residential developments, ranging from starter homes to executive housing and apartments