The organisation is living up to expectations as a strong set of half-year results herald a successful start to the year.
Earlier today the Group’s interim results were announced to the City and show that we are performing well across all business areas.
Commenting on the interim results, Richard Simpson, Chief Executive Officer of Watkin Jones plc, said: “We are pleased to report another strong set of results, in-line with our expectations. The financial performance of the Group continues to be underpinned by robust student accommodation development activity and we are very encouraged by the increased contribution from the Group’s other operating divisions.
“Institutional investor demand for our student accommodation developments is strong and we continue to see quality new investors entering the market, such as DWS at Wembley. Similarly, investor momentum is growing in the Build to Rent (BtR) market, with a significant increase in reported transaction volumes in the first quarter of 2019. The majority of these transactions are forward fund purchases of assets, which plays to Watkin Jones strategy and heritage.
“We are able to leverage our proven expertise in developing and managing multi-occupancy residential rental accommodation and to continue be a partner of choice for institutional clients looking for scale. I continue to be very excited by the opportunities in this business, seeing the market dynamics for both student accommodation and BtR so strongly supportive of the Group’s forward sale model. Together with our pipeline of forward sold and secured development sites, this will continue to provide excellent visibility on future earnings and cash flow. Consequently, the Board remains confident in the prospects for the Group.”
Watkin Jones’ Bridge Street Exchange development in Cardiff has been heralded as the best residential scheme at the prestigious RICS Wales Awards.
The development, which was up against a tough shortlist, was announced as the winner at a ceremony in Cardiff.
Managing Director, Geraint Morgan, said: “This is a fantastic achievement and one we should all be proud of. We were up against a strong shortlist. It is wonderful to have our passion and ability to create great places to live recognised on such a prestigious stage.”
This is not the first award of the year. Clarendon Quarter development in claimed the best Altered Building category at the Leeds Architecture Awards earlier this year.
Richard Simpson, Chief Executive Officer of Watkin Jones, said “We are delighted to have been named winner in the Residential Category at the RICS Awards for our scheme at Bridge Street Exchange in Cardiff. The scheme exemplifies Watkin Jones’ expertise and commitment in delivering high quality projects of this complexity and magnitude. Our track record in the firmly established Residential sector is well proven and to be recognised by the Institute is a great achievement for all those involved in the scheme.”
The RICS Awards showcase the most inspirational initiatives and developments in land, real estate, construction and infrastructure. They celebrate the achievements and successes of RICS professionals and their impact on local communities.
Local good causes are getting boost to their funds thanks to an innovative fundraising idea at The Helm (Telereal) site in Bournemouth.
Contractors using the site’s car park have been asked to pay a weekly fee to do so. All the funds are then distributed to good causes voted for by local people.
Keiron Davies, Assistant Site Manager, said: “We are always looking for new ways to be an even more considerate constructor. This is a great way to give something back to the local area. I am so pleased that the community is getting involved by voting for the cause they want us to donate to.”
The first two charities to benefit from the scheme are the Dorset Children’s Foundation and Bournemouth branch of the Salvation Army (Bournemouth branch). Each received £500.
Staff at the Landsdowne Plaza site in Bournemouth also recently received a bronze award at the Considerate Constructor Awards for the second year running.
Never one to shy away from a challenge, Watkin Jones has transformed a once derelict and dejected grade II listed building into a stunning new contemporary living space.
Plas Y Coed in Bangor has undergone a sensitive and complex regeneration programme. It now comprises 12 beautiful apartments that offer modern, open plan living while at the same time enjoying unique elements of the original architecture.
“We knew that this would be a challenging project from the outset,” explained Berwyn Evans, Managing Director of the Homes Division. “Indeed, many developers would not have taken it on. However, we could see the potential that existed within the building and knew we had the technical expertise to deliver something special.”
Classified as a Grade II building means that Plas Y Coed is defined as being ‘of special interest’. Years of neglect and anti-social behaviour had left it in a dilapidated state. The renovation was delivered with painstaking care to create both beautiful new homes and preserve the building’s character.
“We are really proud of this development, knowing rather than being lost forever Plas Y Coed will provide a great place to live for generations to come,” added Berwyn.“
Watkin Jones’ ability to transform also recently saw them winning the ‘Altered Building’ category at the Leeds Architecture Awards for their work on CQ The Court, known formally as former St Michael’s College.
Anyone wishing to discover more about the Plas Y Coed development can visit the site between 11am and 5pm on Monday, Thursday, Friday, Saturday and Sunday. Alternatively visit www.watkinjoneshomes.co.uk or call 01248 365797.
We are delighted to announce that our scheme – Bridge Street Exchange, Cardiff has been short-listed for the RICS Awards 2019, Wales in the Residential category.
The scheme, completed in Sept 2018, is a high rise 27 storey tower consisting of 477 student bedrooms with retail units provided at ground floor level. At the time of completion it was the tallest building in Wales.
This short-list recognises the amount of time spent by all parties in delivering a scheme of this complexity and magnitude.
Special thanks go to Rio Architects and the various consultants in relation to providing the high-quality design and the Watkin Jones Student South Wales and South West Division and subcontractors in constructing the scheme.
The awards presentation is on 1st May 2019, to announce the winner.