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Watkin Jones Bag £153m in Profit from Student Accommodation Sale

Posted by Ross Jones-Morris

Image courtesy of Flickr, Creative Commons

The Bangor-based student property firm Watkin Jones have announced that they have made a £153m profit from a forward sale of six accommodation schemes.

The portfolio of six developments (all with planning consent) have been sold ahead of completion, though five of the six are underway and set to open in time for the 2018/19 academic year. Overall they consist of 1,691 beds and 14 residential units, situated in six different cities:

The developments have been sold to Europa Generation.

Mark Watkin Jones (Chief Executive of Watkin Jones) said of the sale:

"The group has now forward sold all of its developments that are planned for completion by September 2018. In addition, with the Between Towns Road, Oxford development for delivery in 2019, the number of developments forward sold for delivery before September 2019 has moved to 21, which represents 6,794 beds."

"This sale demonstrates that the group continues to benefit from having very strong and growing relationships with institutional investors, as well as our ability to provide excellent earnings visibility for our shareholders."