Student and build-to-rent specialist Watkin Jones will build student accommodation on land previously occupied by Jewson builders’ merchants
Watkin Jones has been given permission to build 397 student homes in Stratford, east London.
The student and build-to-rent specialist, which saw its pre-tax profit double last year, said the properties in Grove Crescent Road would be of “high quality” and Building Research Establishment’s Environmental Assessment Method rated ’excellent’.
Jewson builders’ merchants occupied the site before closing in late 2020 and it has been vacant ever since.
Watkin Jones is proposing to demolish the existing buildings and develop a mixed-use scheme ranging from two storeys to 12 storeys in height. The scheme includes 2,044sqm of workspace, 128sqm of shops, along with landscaping
Alex Pease, chief investment officer of Watkin Jones, said: “This is great news for Newham, turning a vacant brownfield site into new high-quality and sustainable homes for students, who are discovering everything that East London’s growing higher education sector has to offer. Student numbers are increasing across the UK and today’s very focused undergraduates want the best quality accommodation to make the most of their time at university.”
He added: “We have worked extremely hard to deliver a scheme of the highest quality, delivering employment and workspace for local makers and creatives, as well as a wide range of real long-term community benefits for residents and local businesses alike.”
Watkin Jones saw its pre-tax profit double for the year to 30 September from £51.1m, compared to the £25m reported for the year before.
This will be Watkin Jones second recent development in Stratford, following the completion of its 511-student home Eleanor Rosa House for the University of London in 2019.
Last year it also gained planning permission for 551 built to rent homes in Birmingham town centre and 651 built to rent and student homes in Bath.
No comments yet