Build to rent development site secured in Woking

Watkin Jones plc

('Watkin Jones' or the 'Group')

New build to rent development site secured in Woking

Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi-occupancy residential property assets, with a focus on the student accommodation and build to rent sectors, announces that the Group has acquired a prime development site in Woking town centre from McKay Securities PLC with capacity for approximately 350 build to rent apartments on a subject to planning basis.

The proposed development will comprise a purpose-designed build to rent scheme in which residents will benefit from high quality accommodation and outstanding communal facilities, including a resident's lounge and roof terrace. The scheme is also expected to include new retail and leisure space. The development is expected to deliver a margin in line with target returns and is targeted for completion in FY 2024.

Richard Simpson, Chief Executive Officer of Watkin Jones, said: "We are delighted to have secured a prime located build to rent development site in Woking. The site exemplifies the Group's target to secure opportunities in prime urban micro locations with great access to amenities and transport links. Woking is an established commuter town with a strong local economy and affluent demographic which is benefiting from considerable inward investment. The acquisition represents an important addition to the Group's secured build to rent development pipeline."

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Notes to Editors

Watkin Jones is a leading UK developer and constructor of multi-occupancy residential property assets, with a focus on the student accommodation and build to rent sectors. The Group has strong relationships with institutional investors, and a good reputation for successful, on-time-delivery of high quality developments. Since 1999, Watkin Jones has delivered 38,000 student beds across 117 sites, making it a key player and leader in the UK purpose built student accommodation market. In addition, the Fresh Property Group, the Group's specialist accommodation management company, manages over 15,000 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 is now expanding its operations into the build to rent sector.

The Group's competitive advantage lies in its experienced management team and 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