Development Partnership for 200-unit PBSA scheme
Watkin Jones signs development partnership for 200-unit student accommodation scheme in Bristol.
- PBSA units c.200
- Expected revenue in excess of £28 million
- Construction completion ahead of 2027 academic year
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Watkin Jones is pleased to confirm it has signed a development partnership to deliver c.200 purpose-built student accommodation units (PBSA) located on Freestone Road, Bristol.
The scheme will transform a disused railway embankment into a vibrant new community, delivering high-quality student beds and contributing to the wider regeneration of the Bristol Temple Quarter Enterprise Zone. The transaction is expected to deliver revenue in excess of £28 million over the development period, with construction scheduled to complete ahead of the 2027 academic year.
This transaction is a further demonstration of Watkin Jones' diversification strategy and has been executed notwithstanding the ongoing difficult conditions for residential real estate development and construction.
Alex Pease, Chief Executive Officer of Watkin Jones, commented:
"This project demonstrates our ability to implement our strategy to diversify our revenue streams. Whilst the market remains challenging, with constrained liquidity for new development, we are encouraged by the continued desire from institutional investors to partner with Watkin Jones to leverage our proven expertise in residential development and construction. We look forward to the successful delivery of this project."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.