Student accommodation and build-to-rent developer Watkin Jones is confident Edinburgh and Glasgow remain hot spots for student activity with £50 million of new projects.
The company has secured development agreements for two sites in Scotland with CA Ventures, a Chicago-based real estate investment company and a new client for the group. The first site comprises 422 beds in Cathedral Street, Glasgow, while the second site comprises 216 beds in Dundee Street, Edinburgh.
Both developments totalling around £50 million are scheduled for completion ahead of the 2021/2022 academic year.
Watkin Jones has recently secured a prime site in Iona Street, Edinburgh, and is seeking planning permission for a scheme which comprises around 270 student beds and a further 88 residential units. The scheme is targeted for delivery ahead of the 2022/23 academic year. Since 1999, the firm has delivered 41,000 student beds across 123 sites, making it a key player and leader in the UK student accommodation market.
Richard Simpson, chief executive officer of Watkin Jones, said: "I would like to congratulate the teams involved in concluding these various transactions as planned, underlining the resilience and strength of the Group's business model, as well as that of the sectors in which we operate. We highly value our institutional clients and partners and it is pleasing to see a number of our key relationships strengthened further at this time."
