Watkin Jones, the UK’s leading developer and manager of residential for rent, is pleased to announce that the Group has exchanged contracts with funds managed by KKR, a leading global investment firm, to forward fund an 819-bed purpose-built student housing (PBSA) scheme in Dalby Avenue located in Bedminster, Bristol. The consideration will be payable to Watkin Jones over the course of the development, which is due for completion in August 2024, and includes an initial net cash receipt for Watkin Jones of c. £25 million. KKR is making the investment through its European Core Plus Real Estate strategy, which focuses on thematic investments in high-quality, substantially stabilised assets with long-term growth potential.
