By Michele Maatouk
Date: Tuesday 28 Aug 2018
LONDON (ShareCast) - (Sharecast News) - AIM-listed Watkin Jones has exchanged contracts to buy a site in Wembley from Kelaty Propco which has consent for a 599 bed student accommodation scheme.
The site will be developed by the group for delivery in time for the 2021/22 academic year. In addition, Watkin Jones has entered into a development agreement with the vendor to deliver 300 build-to-rent apartments on an adjoining site, to be completed in March 2021.
"The securing of this opportunity in Wembley represents a significant addition to the group's FY 2021 student accommodation and build-to-rent delivery pipelines," the company said.
Watkin Jones is a UK developer and constructor of multi-occupancy property assets, with a focus on the student accommodation and build-to-rent sectors.
At 1105 BST, the shares were down 0.3% to 194.29p.