Coronavirus impact: 6 Nov - lowly rated developer is in good shape
A lowly rated developer covered here looks in good shape, reporting a substantial increase in its development pipeline. Read on for more on this and the latest take-over news.
Watkin Jones: going very cheap indeedThe share price of Watkin Jones (LON:WJG), the leading developer of purpose built student accommodation and residential rental space, has been very weak since hitting all-time highs in February 2020. The latest trading update for its financial year ending 30 September 2020 hopefully offered the required reassurance with a big rise in its pipeline and new forward funding deals. The Group completed six Purpose Built Student Accommodation (‘PBSA’) schemes (2,256 beds) and one Build to Rent (‘BtR’) scheme for 159 apartments in the period. Despite the gloom overshadowing the universities, only one PBSA scheme has…