Watkin Jones has agreed a development partnership with an unnamed private investment group to deliver a 260-unit aparthotel in Southwark.
The nine-storey scheme, which is due to be delivered in 2027, will be built on a brownfield site on New Kent Road.
Watkin Jones said the development is expected to generate revenue of approximately £36m at margins consistent with its strategic approach.
Alex Pease, chief executive officer 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.”
