Watkin Jones student and build to rent project pipeline swells

Student rooms and build to rent specialist Watkin Jones is expecting to deliver profits ahead of forecast for the year to September.

In a year-end trading statement, the expanding firm said it was sitting on a record pipeline of projects for the next three years as student room schemes continued to secure investors and build to rent schemes took off.

Its student project build pipeline contains six schemes scheduled for delivery next year comprising 2,723 beds.

For 2020, Watkin Jones expects to deliver further seven projects of 2,606 beds, of which four comprising 1,844 beds have been forward sold.

A further four development sites of around 2,189 beds have been secured for 2021.

In the developing build to rent sector, Watkin Jones has deals with M&G Real Estate to deliver 315 apartments in Reading and with Singaporean incorporated Lum Chang Holdings to deliver a scheme of 300 apartments in Wembley, both due to complete in 2021.

This brings Watkin Jones’ secured delivery pipeline to 1,500 flats across seven sites, targeted for delivery over the next three years.

Mark Watkin Jones, chief executive officer of Watkin Jones, said: “Trading in the period has been strong and we are pleased to report that revenues and underlying earnings for the financial year are expected to be slightly ahead of the board’s previous expectations.

“We are also encouraged by the progress that has been made in the Build to Rent sector, with the agreements for significant developments in Reading and Wembley demonstrating our position as a developer of choice for leading institutions.”

from Construction Enquirer http://www.constructionenquirer.com/2018/10/31/watkin-jones-student-and-build-to-rent-project-pipeline-swells/

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