Watkin Jones, a prominent player in the purpose-built student accommodation (PBSA) sector, is taking decisive steps to bolster its investment team after experiencing a significant downturn in its PBSA revenues. In a bid to navigate the challenges faced in the current market, the company has appointed three seasoned professionals to enhance its strategic position.
New Appointments to Strengthen Investment Strategy
Will White has joined Watkin Jones as the partnerships director, bringing with him extensive experience from his previous role as the higher education engagement director at Unite. In his new capacity, White will focus on nurturing and managing strategic partnerships with universities and other vital stakeholders, a move that is expected to create new avenues for collaboration and growth within the PBSA sector.
Romain Palpacuer steps in as investment director, leveraging his comprehensive background in the UK real estate market, most recently with Avanton. His expertise will be pivotal in identifying and capitalising on investment opportunities in a fluctuating market. Additionally, James Lambert has come on board from TPG Angelo Gordon as the portfolio manager, where he will oversee the performance and optimisation of Watkin Jones’ broader portfolio while also spearheading new asset management initiatives.
George Dyer, the group investment director, emphasised the importance of these strategic appointments: “Strengthening our investment team is a key priority for Watkin Jones as we continue to evolve and grow our business. These appointments bring a strong blend of investment expertise, partnership experience and portfolio management capability, which will be vital as we continue to identify and deliver high-quality opportunities aligned with our broader strategies.”
Financial Performance and Market Context
For the financial year ending 30 September 2025, Watkin Jones reported a group revenue of £279.8 million, representing a decline of 22.7 per cent from the previous year. Specifically, the revenues from build-to-rent (BTR) stood at £180 million, down by 14.8 per cent from £211.3 million in FY2024, while PBSA revenue plummeted by 42.4 per cent to £67.7 million. This decline underscores the challenges facing the sector, particularly in light of shifting demand and economic pressures.
Moreover, the provision for building safety works was reduced by £1.6 million, bringing it to £46.4 million as the company continues remediation efforts on six buildings. Despite these challenges, Watkin Jones entered the new financial year with robust cash reserves amounting to £70.5 million and a healthy forward sold revenue of £340 million.
Progress on New Developments
Watkin Jones recently received planning approval for the development of over 1,300 new units, which includes 1,140 PBSA units and 230 BTR units across three different schemes. Furthermore, there are plans for an additional 1,100 BTR units in the pipeline, highlighting the company’s commitment to expanding its footprint in the UK PBSA market despite the current difficulties.
These strategic moves and new appointments are indicative of Watkin Jones’ proactive approach to sustaining its competitive edge in the purpose-built student accommodation sector, positioning itself to respond effectively to both current trends and future opportunities.