Business
Planning consent granted for Duncan House
Planning consent granted for Duncan House.
About this update from Watkin Jones Plc
[{"type":"text","content":"\n \nRNS Number : 5647C Watkin Jones plc 29 June 2016 \n\n\n\n\n\nFor immediate release\n\n\n29 June 2016\n\n\n\n\n \nWatkin Jones plc\n('Watkin Jones' or the 'Group')\n \nPlanning consent granted for Duncan House, Stratford\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 the Group has received planning consent to progress with the redevelopment of Duncan House in Stratford.\n \nThe proposed redevelopment of Duncan House, which is located in Stratford High Street E15, consists of 511 beds (420 beds and 91 studios), 44 residential units and 30,000 square feet of academic space. The total gross development value of the scheme is around £100 million. Watkin Jones is in advanced negotiations with University of London (\"UoL\"), one of the world's most prestigious academic institutions and their funding partners, to forward sell the student part of the Duncan House scheme as per the Group's business model. The residential units will be sold in a separate transaction by Watkin Jones. The development is anticipated to be completed in 2019.\n \nMark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: \"We are delighted to have secured planning consent for this latest scheme in our pipeline which builds our visibility around our business model. We expect to be on site towards the end of 2016 and complete the scheme in 2019.\"\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\nPhilip 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 / Nick Cowles / 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 / Benjamin Robertson\n\n\nwww.zeuscapital.co.uk\n\n\n\n\n\n\n\n \n\n\n\n\nPeel Hunt LLP (Joint Broker)\n\n\nTel: +44 (0) 20 7418 8900\n\n\n\n\nMike Bell / Matthew Brooke-Hitching\n\n\nwww.peelhunt.com\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMedia enquiries:\n\n\n\n\nBuchanan\n\n\n\n\n\n\n\nHenr...