Plenty to like about Watkin Jones
The UK's leading developer and manager of purpose built student accommodation, which is also growing fast in the build to rent sector, announced in-line interim results. Our in-depth note here considers the enduring appeal of this unusual property developer (IHT qualifying).
Big developer of student accommodation With its roots going back to 1791, Watkin Jones (LON:WJG) was admitted to AIM in 2016 at a share price of 100 pence. After initially struggling to attract much attention, the shares have since performed strongly, with the current share price 236 pence and resulting market capitalisation £604m. Watkin Jones entered the purpose built student accommodation (‘PBSA’) market in 1999, since when it has delivered more than 43,000 student beds across 130 sites, making it a key player and leader in this already substantial but growing market. In addition, Fresh, its specialist accommodation management business, manages over…