Student accommodation developer Watkin Jones is moving into the non-student private rented sector and is floating on London's Aim market in order to raise capital.
The company has built more than 28,000 student rooms across 88 sites since 1999. It is now looking to float at a valuation of £255 million to raise funds to diversify into the non-student rental market. Proceeds from the float will go to both student and non-student developments though, as Watkin Jones looks to fund the 31 projects it currently has in its pipeline.
Chief Executive Mark Watkin Jones emphasised the company's continued interest in the student sector however saying, Â“the purpose-built student accommodation market in particular has huge potential and is supported by a number of long-term growth drivers.Â”
Trading is scheduled to start on March 23rd and will be led by Zeus Capital and Peel Hunt.