Practical completion on a block in larger scheme
Watkin Jones, the UK's leading developer and manager of residential for rent, is pleased to announce that the Group has recently practically completed on part of a BTR scheme in Ravensbourne Place in Lewisham, South East London. 138 units of the first of two blocks constructed is being handed over to Legal & General (L&G) and is part of a larger scheme built by the developer, with the second block being exchanged in 2024.
The scheme was delivered by Watkin Jones on behalf of L&G as part of a wider project currently under construction. The site is built on a former Tesco carpark and provides a mix of high-quality one, two and three-bedroom apartments for rent.
It is spread over two adjoining buildings with eight and thirteen floors respectively and connected by an adjoining garden terrace. This first block includes amenities for residents comprising an entertainment suite, shared community space and lounge, in addition to landscaped gardens.
Supporting the Group’s Future Foundations ESG strategy, this state-of-the-art development incorporates cutting edge technology and engineering to target reduced emissions, supporting Watkin Jones’ sustainability objectives. This has been achieved with the implementation of air source heat pump heating for the hot water system, which eliminates the need for gas usage. Additionally, a water attenuation system prevents overcapacity into the public drainage system.
The scheme also includes charging points for electric cars and ample bicycle storage for residents, supporting sustainable local transport and helping the development to achieve a BREEAM “Very Good” rating. Located next to Lewisham train station means that this scheme offers residents convenient and easy access to the city with DLR and Southeastern train services on their doorsteps.
The scheme will offer residents spectacular views over the capital, as well as new landscaping areas.
Richard Harris, Group Delivery, Managing Director – Group Delivery, Watkin Jones, said: “We are delighted to practically complete and hand Block 2 of the Ravensbourne Place BTR development over to our client, L&G.
“Working together in close collaboration, this project reflects the very best in construction within an inner-city location to help alleviate ongoing shortages in the rental market in South East London. This continues to be an exciting partnership with L&G and has helped us bring sustainable new housing to an important part of a Lewisham regeneration zone.”
Adam Burney, Head of Annuity - Build To Rent, LGIM said: "It's fantastic to see this phase of Ravensbourne Place complete, spurring the continued growth of our BTR platform and further successful collaboration with Watkin Jones. Through investing Legal & General Retirement Institutional funds into Build to Rent schemes, we have a tangible opportunity to increase the UK's supply of high-quality, sustainable homes, all whilst generating returns that pay pensions. We're delighted to continue to put pensions capital to good use."
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Media enquiries:
Buchanan (Watkin Jones)
Henry Harrison-Topham / Jamie Hooper
watkinjones@buchanan.uk.com
Tel: +44 (0) 20 7466 5000
Notes to Editors
Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the build to rent, student accommodation and affordable housing sectors. The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high-quality developments. Since 1999, Watkin Jones has delivered 48,000 student beds across 143 sites, making it a key player and leader in the UK purpose-built student accommodation market, and is increasingly expanding its operations into the build to rent sector. In addition, Fresh, the Group's specialist accommodation management business, manages over 22,000 student beds and build to rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments.
The Group's competitive advantage lies in its experienced management team and capital-light business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.
Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L. For additional information please visit www.watkinjonesplc.com