The deal for the development pipeline means the projects will now move to construction with five of the six due to complete in 2018.
The portfolio, which consists of 1,691 student accommodation beds and 14 residential units all with planning consent granted, will fetch £153m, payable during construction.
Student accommodation portfolio
|
Development |
No. of beds |
Delivery date |
|
Caledon House, Aberdeen |
199 (147 clusters / 52 studios)
|
September 2018 |
|
Bailey Fields, Sheffield |
543 (457 clusters / 69 studios / 17 one beds)
|
September 2018 |
|
Market Street, Newcastle |
225 (177 clusters / 48 studios)
|
September 2018 |
|
Midland Road, Bath |
108 (94 student beds / 14 residential units)
|
September 2018 |
|
Oxford House, Bournemouth |
486 (410 clusters / 76 studios / 32,205sq.ft. of academic space / commercial space / car parking) |
September 2018 |
|
Between Towns Road, Oxford |
144 (140 clusters / 4 studios / c.869sq.ft. retail unit)
|
September 2019 |
Mark Watkin Jones, Chief Executive of Watkin Jones, said: “The Group has now forward sold all of its developments that are planned for completion by September 2018.
“In addition, with the Between Towns Road, Oxford development for delivery in 2019, the number of developments forward sold for delivery before September 2019 has moved to 21, which represents 6,794 beds.”
“This sale demonstrates that the group continues to benefit from having very strong and growing relationships with institutional investors, as well as our ability to provide excellent earnings visibility for our shareholders.”
Europa Generation is a joint venture by Europa Capital and Generation Estates, established to invest in prime purpose built student accommodation in the UK.
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