Watkin Jones, the UK's leading developer and manager of residential for rent, is pleased to announce that the Group has recently topped out on a 316-bed BTR (‘Build to Rent’) development called Bath Junction in Lower Bristol Road, located in Bath. This commemorative event signals that the concrete framework is now complete. This was marked by the laying of the last remaining concrete at the top of the highest block and was a proud moment for everyone involved, including the Watkin Jones site team, DWS, and subcontractors.
Forward funded by DWS, a global asset manager, the two-building development creates a part of an extensive mixed-use scheme at Lower Bristol Road. The scheme will offer 316 high quality BTR units, with a combination of studios, one, two and three-bedroom homes (including accessible homes) to help meet the much-needed demand for affordable housing and commercial spaces in Bath. To increase affordability, one in three of these homes will be provided at a discounted rental rate.
Watkin Jones has an excellent track record of delivery in Bath, having completed three schemes in the last ten years that have added over 250 new homes for residents.
Like all Watkin Jones developments, Bath Junction will meet high environmental sustainability standards, targeting Home Quality Mark Level Three for the residential element of the development. A BREEAM ‘Very Good’ rating for the commercial element is being targeted to further support the sustainable design. Key sustainability features include air source heat pumps, the provision of EV chargers and car club spaces. Emission reduction will be achieved through renewable resources including water saving fittings.
This is the largest purpose-built BTR development in Bath and will offer large outdoor amenity space; residents will enjoy landscaped communal courtyard gardens and a frontage of newly planted trees to increase biodiversity and attractiveness.
Located conveniently within a 15-minute walk from the historic city centre, Bath offers excellent transport options including the nearby National Route Four cycling route, local buses and Bath Spa rail station.
Richard Harris, Managing Director – Group Delivery, Watkin Jones, said: “This is our second development working in partnership with DWS, and we are very pleased to reach this milestone, as we continue together, to offer much needed rental homes in Bath. Together we are working to create sustainable homes for a range of people to live in that will help meet the growing rental demand in the city.”
Hugo Vere, Lead Portfolio Manager, DWS, added: “DWS is pleased to be working to deliver high quality and much needed rental accommodation for Bath in particular the provision of 95 discounted rental units. With the addition of Bath Junction DWS’ UK&I portfolio of living assets will exceed 30 schemes with over 6500 units, managed on behalf of a range of international institutional investors and forming part of DWS’ broader European portfolio of living assets.”
- Ends -
Media enquiries:
Buchanan
Henry Harrison-Topham / Jamie Hooper
watkinjones@buchanan.uk.com
www.buchanancomms.co.uk
Tel: +44 (0) 20 7466 5000
Notes to Editors
Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the build to rent, student accommodation and affordable housing sectors. The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high-quality developments. Since 1999, Watkin Jones has delivered 48,000 student beds across 143 sites, making it a key player and leader in the UK purpose-built student accommodation market, and is increasingly expanding its operations into the build to rent sector. In addition, Fresh, the Group's specialist accommodation management business, manages over 16,940 student beds and build to rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments.
The Group's competitive advantage lies in its experienced management team and capital-light business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.
Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L. For additional information please visit www.watkinjonesplc.com
