Watkin Jones notes forward sale of six developments
Source - SMW
Watkin Jones has completed the forward sale of a portfolio of six developments to an institutional investor, Europa Generation, for a gross development value of £165m.
The consideration payable to Watkin Jones over the course of the developments was about £153m, net of client funding costs.
Europa Generation is a joint venture by Europa Capital and Generation Estates Limited established to invest in prime purpose built student accommodation in the UK.
The portfolio comprised 1691 student accommodation beds and 14 residential units, which all had planning consent granted. They were in Aberdeen, Sheffield, Newcastle, Bath, Bournemouth and Oxford.