Developer and manager Watkin Jones has made significant strides in the purpose-built student accommodation (PBSA) sector by securing five contract wins, along with an additional contract for an aparthotel. These awards, with a combined total value of around £60 million, reflect the Group’s ongoing progress in its diversification strategy.
The New Contracts
Watkin Jones has successfully obtained five appointments that encompass over 1,750 PBSA beds in major UK cities including Birmingham, Edinburgh, Newcastle, and Glasgow. This expansion is indicative of the increasing investor demand for enhanced compliance, improved resident experiences, and superior operational performance through their Refresh initiative.
Expertise and Value Proposition
These contract wins underline the effectiveness of Watkin Jones’ vertically integrated platform, showcasing their expertise across both the living and hospitality sectors. By merging development, delivery, and operational capabilities, Watkin Jones aids clients in unlocking value, optimising performance, and maximising long-term returns on their investments. As Michael Bunyan, Group Development Director at Watkin Jones, stated, “The range of awards secured reflects the growing demand for partners that can combine their skillset and expertise with practical delivery to meet the evolving investor needs.”
Additional Developments
In addition to the PBSA contracts, Marick Real Estate has chosen Watkin Jones for the redevelopment of 38-40 George Street into Staycity Wilde Oxford, a new lifestyle aparthotel featuring 145 units. This project further illustrates the breadth of Watkin Jones’ capabilities and its commitment to meeting the diverse needs of its clientele.
With these significant developments, Watkin Jones is well-positioned to continue its leadership in the UK PBSA market, responding effectively to the increasing demand for high-quality student accommodation and hospitality solutions.