Watkin Jones sells Cardiff, Belfast student accommodation developments

AIM-listed property developer Watkin Jones has forward sold developments in Cardiff and Belfast to institutional investors in student accommodation for an undisclosed fee.

Chief executive Mark Watkin Jones said: the disposals underpins the company’s earnings and cashflow, while interest in the sector remains “strong”.

The Cardiff development on Bridge Street, which is close to the city centre and Queen Street station, has 472 beds and is due to be completed in 2018, ahead of the 2018-19 academic year.

The Belfast development on Queen Street has 340 beds and is also to be completed in August 2018.

Shares in Watkin Jones were down 0.63% to 118.25p at 0814 GMT.