gretel
30 Oct 2017
New development planned for Bangor WJG are applying for permission for a development in Bangor of 29 houses and 30 apartments:[link]
penhome
29 Oct 2017
Another chart Ready for another move up? [link] this is helpful. It's just my opinion based on what I think the chart is suggesting. This is always a balance of probabilities so my opinion can be wrong and other analysts may have differing views.
gretel
26 Oct 2017
News of another development today:[link] in for 12-storey Belfast scheme26 Oct 2017  IrelandRevised plans to build a 12-storey residential scheme in Belfast city centre, which could create 160 jobs and would represent a £20m investment, have been submitted.Lacuna Developments and Watkin Jones Group acquired 26-44 Little Patrick Street in July, with the site currently holding permission for 354 student studios.The pair immediately set about drawing up new proposals for the area, with an institutional investor to forward fund the amended plans having been secured.Now, the application has been submitted. It states that the new project, which would comprise 430 rooms, is "a more efficient and sustainable use of the land" which "reflects the applicant's experience of developing and operating similar schemes elsewhere".It would cover 147,000 sq ft of space and include common areas, a reception, a quiet study area, an external courtyard and 100 bike spaces.A planning statement drawn up by Turley outlines the economic impact the revised application could have including creating 160 jobs and supporting a further 54 roles. The development would also represent an investment of £20m."The need for student accommodation of this kind still remains and in particular, market experience indicates a strong need for a mix of accommodation to be provided," it read."The development will ensure the redevelopment of the site by a company which is committed to delivery in Belfast, as is evident from other operational schemes."At the time the deal was announced, Anthony Best, managing director of Lacuna Developments, touched on the need for projects."In September 2019, the completion of the Ulster University campus will bring 15,000 more students and staff to this area of Belfast," he said. "The revised plans for Little Patrick Street will contribute less than 1 per cent of the accommodation required."Through our experiences with John Bell House, Dublin Road and Athletic Stores, we have built up our understanding of the student market and demand in Belfast. Our changes to the scheme will provide the right mix of studio and cluster bedrooms to meet demand from the market."
penhome
15 Oct 2017
updated chart Second positive week since Rising Three Methods [link]
gretel
03 Oct 2017
Excellent RNS this morning Terrific stuff, with two big forward sales for £66m:[link] impressive that all forward sales for 2017, 2018 and already almost 75% of 2019's have now been delivered. The markets just love such forward visibility.Beautiful.
gretel
27 Sep 2017
Peel Hunt raise target price to 230p Peel Hunt have today increased their target price to 230p (from 225p) and say Buy:[link]
PIE-EATER
31 Aug 2017
Re: Beaufort raise target price to 225p Bit late to the party with their updates...
gretel
31 Aug 2017
Beaufort raise target price to 225p Beaufort Securities have raised their target price to 225p (from 195p):Conclusion:"Our View: Watkin Jones continue to secure, fund and develop a pipeline of attractive sites. Amid continuing strong demand for its student accommodation, the Group provides excellent visibility on future revenue, earnings and cash flow.Following yesterday's news, the Group has now forward sold 1,981 of the 3,545 beds (c.56%) planned to be delivered ahead of the 2019/2020 academic year, having already completed similar sales for all schemes covering the periods 2017/2018 and 2018/2019.The Group noted in its interim results that the fundamentals of the student accommodation market continue to be attractive. It has received increased institutional demand for its high-quality purpose-built assets, with a number of new international funds now also entering the market. This has led to a positive impact on development values as competition increases and yields improve. With respect to the Brexit, investors have become increasingly confident that the final negotiated outcome will not significantly change the currently advantageous conditions offered to EU students choosing to study in the UK, while Sterling's concurrent devaluation against the international basket of currencies has made it a more attractive destination for higher education. This means that Watkin Jones can expect to find continued demand for its developments.The Shares has performed excellently year-to-date rising almost +70%, and are now valued at FY2017E and FY2018E P/E multiples of 15.4x and 13.9x, along with dividend yield of 3.2% and 3.5%, respectively. But given the strength of its business model together with its management's excellent execution, Beaufort reiterates its Speculative Buy rating while upgrading its target price to 225p from 195p."
gretel
30 Aug 2017
RNS : £90m more forward sales Great news - another £90m is incoming from forward sales and developments:[link] love this paragraph:"Both developments are due for completion for the summer of 2019 and, following these agreements, Watkin Jones have now forward sold 1,981 of the 3,545 beds planned to be delivered ahead of the 2019/2020 academic year. All schemes to be delivered during FY17 and FY18 and ahead of the 2017/2018 and 2018/2019 academic years have been forward sold."
gretel
27 Aug 2017
Tipped in today's Mail on Sunday [link] UPDATE: Student digs tip turns to rental flats as shares soarWatkin Jones began as a joinery business in 1791.Still run by a descendant of the original family, it is now involved in two very modern aspects of construction – purpose-built accommodation for students and blocks of flats built for rent.The firm floated in March 2016 at 100p and Midas tipped the shares two months later at 109p. They have since soared 82 per cent to 198p, but should continue to rise long-term.Chief executive Mark Watkin Jones has delivered on his promises to date and plans to double the firm’s size over five to seven years.The company moved into student accommodation in 1999 and is now a recognised specialist.The sites are forward sold to institutional investors and the firm often manages the units – so it does not have to tie up cash for years while it builds the units and it gets an income after.About ten sites are finished each year, providing up to 4,000 beds. A further 19 sites are planned for 2018 and 2019. The business is robust and demand is strong.Now the firm is keen to replicate this success in the purpose-built rental sector. A first site in Leeds is already open and prospects are bright.Midas verdict: Watkin Jones has made big progress since floating and growth should pick up pace.The firm offers generous dividends, with 6.6p expected this year, rising to 7.3p in 2018. Good value for both existing and new investors."
