Watkin Jones, the UK's leading developer and manager of residential for rent homes, is pleased to announce the completion of the acquisition of Bristol-based developer Deeley Freed’s consented 819-bed purpose-built student accommodation (PBSA) development in Bedminster, Bristol.
The c£110m GDV BREEAM ‘Excellent’ scheme is sustainably located just five-minute’s cycle from the University’s new Temple Quarter Enterprise Campus and 100 metres from Bedminster Train Station and East Street’s shops, cafes and bars.
Residents will enjoy access to communal lounges, a landscaped courtyard, high quality public realm and the newly restored Malago River corridor.
The scheme will be provided on a 15-year lease to the University of Bristol to meet the university’s fast-growing need for accommodation.
Watkin Jones is starting on site immediately, and completion is expected in 2024.
Alex Pease, Chief Investment Officer of Watkin Jones, said: “Bristol is a great city with top universities, so it is no surprise that more people want to study there. Deeley Freed has taken a fantastic scheme through planning, and we are really excited to be able to take it forward and expand our relationship with the University of Bristol. We expect to see huge demand from both residents, and investors, who are consistently seeking the best placed accommodation close to universities that are experiencing strong growth.”
Max Freed, Director at Deeley Freed, said: “As part of the Bedminster Green regeneration area, this is a strategically important development for Bristol, Bedminster and the University of Bristol and we are delighted that Watkins Jones will be bringing this forward. They have a great track record for delivering high quality developments across the country and we know they will deliver the same high standards we have always aimed to achieve here.”
Watkin Jones was advised in the transaction by Savills and Addleshaw Goddard.
Deeley Freed was advised in the transaction by Cushman & Wakefield and Osborne Clarke.