Watkin Jones gains planning permission for new development

22nd Sep 2016 16:10

(ShareCast News) - Watkin Jones, a UK based developer and constructor of multi occupancy property assets, has received planning consent to progress with the development of land in Cheshire.The company specializes in building student accommodation sites around the UK.The land, which was previously being used as a car park, will be used to house a development of 77 beds. The total value of the scheme is around £6.5m and is anticipated to be complete in the summer of 2018.The new beds will add to the 330 student beds already being developed in Chester by the company for delivery during the summer of 2017.Chief Executive Mark Watkin Jones said: "This development when completed, will service students at the University of Chester and the University of Law and we are pleased to have added the Hunter Street site to our already impressive portfolio in Chester. The demand for student accommodation is growing and this latest scheme adds further validation to our business model."The share price rose by 1.74% at 117p at 1630 BST on Thursday.