Venta a plazo del desarrollo PBSA en Bristol
| 7 de marzo de 2024 |
watkin jones plc
('Watkin Jones' o el 'Grupo')
Venta a plazo del desarrollo PBSA en Bristol
Watkin Jones is pleased to announce the forward sale of a new 260 bed PBSA ('Purpose Built Student Accommodation') development at Gas Lane in Bristol to Hines, acquiring on behalf of the Hines European Property Partners Fund ('HEPP').
The contribution from this sale is reflected in the Group's current financial guidance, with an overall scheme margin expected to be in line with current target returns. The transaction will generate day one cash receipts of c. £11 million, net of repayment of the associated debt of c.£5 million.
As part of Bristol Temple Quarter, one of the UK's largest urban regeneration zones, it will transform the current brownfield site at Gas Lane into a new student community, helping to support the new University of Bristol Temple Quarter campus. The scheme is targeted to complete in time for the start of the 2025/26 academic year.
Alex Pease, CEO of Watkin Jones, commented: "We are delighted to announce the forward sale of this student accommodation development. This is our first transaction with Hines and we look forward to working with such a highly-regarded partner going forward.
"This transaction gives us confidence that sentiment in the institutional market continues to recover. As the market shows further signs of improvement, we are well-positioned to capitalize on this given our position in PBSA and Build to Rent, two of the most attractive asset classes in real estate."
- Termina -
Este anuncio contiene información privilegiada a los efectos del artículo 7 del Reglamento de Abuso de Mercado (UE) n.º 596/2014, ya que forma parte de la legislación nacional del Reino Unido en virtud de la Ley (Retirada) de la Unión Europea de 2018 ("UK MAR")
Para mayor información:
watkin jones plc |
| |
Alex Pease, director ejecutivo | Tel: + 44 (0) 20 3617 4453 | |
Sarah Sergeant, directora financiera | www.watkinjonesplc.com | |
Peel Hunt LLP (Asesor designado y sociedad conjunta Broker) |
Tel: + 44 (0) 20 7418 8900 | |
Mike Bell/Ed Allsopp | www.peelhunt.com | |
Jefferies Hoare Govett (Corporativo conjunto Broker) |
Tel: + 44 (0) 20 7029 8000 | |
James Umbers/David Sheehan/Paul Bundred
| www.jefferies.com | |
Preguntas de los medios:
Buchanan |
|
Henry Harrison-Topham / Steph Whitmore / Jamie Hooper | Tel: + 44 (0) 20 7466 5000 |
www.buchanancomms.co.uk |
Notas a los editores
Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the build to rent, student accommodation and affordable housing sectors. The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high-quality developments. Since 1999, Watkin Jones has delivered over 49,000 student beds across 147 schemes, making it a key player and leader in the UK purpose-built student accommodation market, and is increasingly expanding its operations into the build to rent sector. In addition, Fresh, the Group's specialist accommodation management business, manages over 16,800 student beds and build to rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 50 residential developments, ranging from starter homes to executive housing and apartments.
La ventaja competitiva del Grupo radica en su experimentado equipo de gestión y su modelo de negocio con poco capital, que le permite ofrecer una solución integral para los inversores, entregada completamente internamente con una dependencia mínima de terceros, durante todo el ciclo de vida de un activo.
Watkin Jones fue admitido a cotizar en AIM en marzo de 2016 con el símbolo WJG.L. Para obtener información adicional, visite www.watkinjonesplc.com
About Hines:
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage a ?87B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 790 properties totaling 25 million square metres globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2023.
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