Watkin Jones has submitted an EIA application for 295 build-to-rent homes in a development of up to 13 storeys in Uxbridge, UB8.
The 2.3-acre site lies on Harefield Road, close to Uxbridge town centre. It will replace a big-box retail warehouse, built around 25 years ago, currently home to Halfords and Wickes.
Canada Life currently owns the site, having acquired it for £12.7m in 2006. Watkin Jones has agreed to purchase it, subject to planning.
The 227-year-old firm is better known for its purpose-built student accommodation business: it currently manages more than 16,000 student beds across 53 schemes, through Fresh Student Living.
Since 1999, Watkin Jones has delivered more than 34,500 student beds across 107 sites.
The more recent build-to-rent portfolio has 490 units, and five schemes under management, across four cities: Leeds, Bristol, Manchester and Sheffield.
It has also entered into a development arrangement with M&G Real Estate and Lochailort to deliver a 315-apartment build-to-rent scheme in Reading.
The developer is also progressing another five build-to-rent schemes under its own control, with sites in Bournemouth, Sutton and Sheffield, and “remains in positive negotiations on several other development opportunities”.
Watkin Jones expects to deliver around 1,500 BTR units within the next five years. A subsidiary of Watkin Jones, Five Nine Living, was set up in 2016 to operate its build-to-rent stock.
Management reshuffle
Chief executive officer Mark Watkin Jones announced he would step down in January. Today, the company announced that, following a comprehensive formal search process, Richard Simpson has been appointed to succeed Mark Watkin Jones as CEO.
Simpson will be joining Watkin Jones from Unite Group, the FTSE250 manager and developer of purpose-built student accommodation, where he was group property director. Simpson will join the board of Watkin Jones as CEO, effective on 2 January 2019.
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