Business
Forward Sale in Bournemouth
Forward Sale in Bournemouth.
About this update from Watkin Jones Plc
[{"type":"text","content":"\n \nRNS Number : 0461W Watkin Jones plc 06 February 2017 \n\n \n\n\n\n\nFor immediate release\n\n\n 6 February 2017\n\n\n\n\n \n \nWatkin Jones plc\n('Watkin Jones' or the 'Group')\n \nForward Sale in Bournemouth\n \nWatkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, is pleased to announce that further to the positive update on developments announced on 22 December 2016 and its 2016 full year results announcement on 18 January 2017, the Group has completed the forward sale of the student accommodation element of its Christchurch Road development in Bournemouth.\n \nThe sale has been made to an institutional investor for an undisclosed fee, with the development consisting of 454 beds of student accommodation (437 ensuite clusters and 17 self-contained studios). The development is due for completion in the summer of 2017 ahead of the academic year. Following this transaction, all of the Group's student accommodation developments due for delivery before the end of the current financial year have been forward sold, while 1,840 of the 3,485 beds due for delivery in 2018 have been pre-sold and a further 1,530 have planning permission.\n \nMark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: \"We are delighted to announce that we have successfully completed the sale of the student accommodation development at Christchurch Road in Bournemouth. Having now forward sold all of our projects which are due for delivery in the current financial year, the Group has demonstrated its strong relationships with institutional investors and its ability to provide good visibility on near term returns for its shareholders.\"\n \n- Ends -\n \nFor further information:\n\n\n\n\nWatkin Jones plc\n\n\n \n\n\n\n\nMark Watkin Jones, Chief Executive Officer\n\n\nTel: +44 (0) 1248 362 516\n\n\n\n\nPhil Byrom, Chief Financial Officer\n\n\nwww.watkinjonesplc.com\n\n\n\n\n \n\n\n \n\n\n\n\nZeus Capital Limited (Nominated Adviser & Joint Broker)\n\n\n \n\n\n\n\nCorporate Finance\n\n\n \n\n\n\n\nDan Bate / Jamie Peel\n\n\nTel: +44 (0) 161 831 1512\n\n\n\n\nCorporate Broking\n\n\nTel: +44 (0) 20 3829 5000\n\n\n\n\nDominic King /...