Scheme will comprise 484 beds in key student city
Highlights:
- Watkin Jones and Maslow Capital have acquired a further site into their Joint Venture, looking to develop a 484-bed PBSA scheme in Bristol with an estimated GDV of £101.7m
- This is the second asset acquired in the joint venture between Watkin Jones and Maslow Capital
- Bristol remains a destination of choice for students, with demand for high-quality accommodation continuing to outpace supply
Watkin Jones, the UK’s leading developer and manager of residential properties for rent, is pleased to announce the acquisition of a further development opportunity in its Joint Venture (‘JV’) with Maslow Capital. The site will deliver a high-quality purpose-built student accommodation (‘PBSA’) scheme in Bristol, comprising 484 beds and is expected to achieve a gross development value (GDV) of £101.7m upon stabilisation.
The new Bristol scheme reinforces Watkin Jones’ commitment to delivering sustainable, best-in-class student accommodation in prime university locations. It will be located on Malago Road, which is just 100m from Bedminster train station and 11 minutes’ walk from the University of Bristol’s new Temple Quarter campus. Accommodation will include studios and 40 non-ensuite rooms across three blocks, part of which will be nominated by the University of Bristol. In line with Watkin Jones’ high sustainability standards, the development is targeting ratings of BREEAM Excellent, EPC B, and WiredScore Silver.
Bristol is widely recognised as one of the UK’s most vibrant and student-friendly cities, offering a dynamic mix of culture, green spaces, and excellent connectivity. With its thriving arts scene, independent cafés and waterfront attractions, Bristol provides an outstanding student experience – further cementing its status as a destination of choice for both domestic and international students.
The transaction marks the second asset in the Joint Venture between Watkin Jones and Maslow Capital, following their earlier collaboration on The Ard in Glasgow, and reflects Watkin Jones’ ability to partner with institutional capital to deliver standout schemes that meet both demand and sustainability objectives.
George Dyer, Group Investment Director at Watkin Jones, said: “This transaction with Maslow Capital, our second collaboration together, demonstrates the strength of our proposition and the quality of our PBSA offering across the UK.
“Bristol has firmly established itself as a destination of choice for students, and we’re delighted to deliver a sustainable, high-quality scheme, supporting the City and University’s growing student population.”
Sky Mapson, Senior Director, Origination at Maslow Capital, commented: “We are pleased to support Watkin Jones on a second large-scale PBSA transaction through our joint venture, following The Ard in Glasgow. Their proven record in delivering high-quality student accommodation gives us conviction in the sponsor and the successful delivery of this Bristol asset.”
Rachael Gordon, Head of Deal Execution (UK & Europe) at Maslow Capital, commented: “Bristol remains one of the UK’s most undersupplied student markets, with demand for purpose-built accommodation continuing to outstrip available stock. This 484-bed scheme is close to the University of Bristol’s new Temple Quarter campus and Bedminster station. Its scale, specification and location leave it well positioned to capture that demand and deliver resilient long-term income.”
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