UK: Watkin Jones, a developer and manager of rental residential properties, has partnered with a private investment group for the construction of a 260-unit aparthotel in Southwark, London.
The nine-storey, flexible living development will regenerate a brownfield site on New Kent Road. It is scheduled for completion in 2027.
Watkin Jones estimates the project to generate approximately £36 million in revenue.
Alex Pease, CEO of Watkin Jones, said: “We are delighted to announce this development, which will supply high-quality accommodation as well as lifestyle spaces for the local community.
“This development partnership underscores our market-leading expertise in constructing residential for rent real estate. It demonstrates our ability to continue to be proactive in leveraging our skills and experience by being flexible in our approach, as we continue our strategy to diversify our income streams and broaden our offering,” he added.
