Watkin Jones, the leading UK developer and manager of residential properties for rent, is pleased to announce Refresh, the Group’s refurbishment and asset improvement platform, has been appointed by Bathford Partners, a UK private real estate investment firm, to deliver the £8.4m conversion of Grosvenor House in Bath.
Located close to Bath city centre and within easy reach of the city’s universities, Grosvenor House will be converted from offices into more than 100 en-suite student bedrooms in cluster flats. Built in 1877 as part of a railway goods yard, it will revert to its original name, The Goods Yard. The scheme is scheduled for completion ahead of the 2027/28 academic year.
The appointment highlights growing demand for asset repositioning projects as investors seek to repurpose existing buildings, improve sustainability performance and create long-term value from established assets.
Bathford Partners, co-founded by former Get Living CEO Neil Young, is looking at other similar opportunities with Watkin Jones, to focus on repositioning existing buildings to deliver sustainable institutional grade assets.
The redevelopment will transform a redundant office building back into productive use through a comprehensive programme of refurbishment and improvement works. These include structural alterations, the creation of additional accommodation within the existing roof structure, new mechanical and electrical installations, upgrades to the building envelope and enhancements to the surrounding landscaped areas.
Targeting a BREEAM Excellent rating and EPC ‘A’, the scheme will incorporate a range of sustainability measures, including solar panels, air source heat pumps and battery storage, helping to improve the building's environmental performance while extending the life of the asset.
Michael Bunyan, Group Development Director at Watkin Jones Group, said:
"This appointment reflects the growing demand for projects that unlock value from existing assets through repositioning and repurposing."
"Grosvenor House is a strong example of how underutilised office space can be transformed into high-quality student accommodation in locations where demand remains strong, and we're pleased to be working with Bathford Partners to deliver the scheme."
Neil Young, Bathford Partners, commented:
"Within a year of acquiring Grosvenor House (reverting to its original name of The Goods Yard), planning has been granted and Watkin Jones have been appointed and are on site delivering an institutional grade asset. We are confident that the combined experience and knowledge within Bathford Partners and Watkin Jones will result in a market-leading scheme for students in Bath."
"We look forward to growing our investment portfolio, on behalf of our investors, and see Watkin Jones as a key delivery partner. "
The appointment further strengthens Refresh's growing portfolio of refurbishment, repositioning and asset improvement projects, demonstrating the platform's ability to help investors and asset owners unlock value from existing buildings while responding to evolving market demand through sustainable redevelopment.
Notes to Editors
About Watkin Jones
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 21,000 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
About Refresh
Refresh is Watkin Jones Group’s platform for existing residential properties, focused on unlocking value and strengthening operational resilience. The platform brings together Watkin Jones’ development and delivery expertise with Fresh’s operational insight to provide a tailored, ROI‑driven approach that improves asset performance, enhances compliance and supports efficient approvals and transactions. Refresh works across redevelopment, refurbishment and building improvement and remediation, helping create high‑performing, safe and compliant assets that are fit for the future and capable of supporting ongoing operation and investment across the full lifecycle.
About Bathford Partners
Founded by Richard Crawshay Jones, Neil Young and Sylvana Young, Bathford Partners is a private business built on decades of experience in the living sector and a strong commitment to values. Since 2020, we have deployed £100 million into the UK student accommodation sector through various private equity vehicles, attracting both institutional and high-net-worth/family office investors.
While we've achieved scale in the past, our current focus is on a sophisticated investment strategy that goes beyond mere financial returns. We diligently seek out opportunities that not only offer significant returns but also meaningfully enhance assets for their users.