LONDON (ShareCast) - (Sharecast News) - Residential properties developer Watkin Jones has agreed to a development partnership with Latium Enterprises to deliver a 294-unit hotel in the centre of Wimbledon.
Watkin Jones said the development will transform a former brownfield site on Worple Road, Wimbledon, with the completed 11 storey hotel providing a range of guest accommodation, as well as a club lounge, gym, co-working space and café.

Over the course of the project, which was due to be delivered in summer 2028, the development was expected to generate revenue of approximately £40m for Watkin Jones at margins consistent with guidance.

The AIM-listed firm noted this was the second development partnership that Watkin Jones has entered into with Latium Enterprises, following a previous scheme in New Kent Road in January.

Chief executive Alex Pease said: "This development partnership continues to showcase our market-leading capability in delivering high quality accommodation projects. It also demonstrates our ability to collaborate with partners where we can leverage our skills, experience agile approach, whilst delivering against our strategy to diversify our revenue streams and continue to build a resilient business."

As of 1325 GMT, Watkin Jones shares were down 0.17% at 28.55p.







Reporting by Iain Gilbert at Sharecast.com

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