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Watkin Jones Forward Sells Two Assets

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Watkin Jones PLC has forward sold two of its developments to institutional investors for an undisclosed fee.

The first site is located on Bridge Street in Cardiff, with the second situated in Queen Street in Belfast.

The Cardiff development consists of a 472-bed student development close to Cardiff Queen Street station, which is due for delivery in August 2018 in time for the 2018-19 academic year.

The Belfast asset is located opposite John Bell House, another one of Watkin Jones sites that was completed earlier this year. The 240-bed scheme is also due for completion in August 2018 in time for the start of the new year.

Chief executive Mark Watkin Jones said: "“We are delighted to announce today that we have forward sold our development in Cardiff and Belfast to two institutional investors in purpose build student accommodation, which further underpins the visibility of earnings and cash flow. The interest in the sector remains strong."