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Watkin Jones eyes recovery after stronger second half

Watkin Jones eyes recovery after stronger second half

Build-to-rent and student housing specialist Watkin Jones has ended the year on firmer ground after a stronger second half put it on course to meet full-year expectations.

Revenue for the year to 30 September 2025 is expected to land around £280m, with adjusted operating profit in line with forecasts.

A string of deals, including its Glasgow joint venture and three new development partnerships, underpinned the improved finish.

Operationally, delivery remained consistent with three schemes totalling 600 student rooms handed over in the second half, and another 1,900 rooms due to complete in the coming year.

The group’s “Refresh” retrofit programme also continued to gain ground, with three active projects and a growing pipeline of opportunities across student and rental markets.

Cash remained a key focus, with Watkin Jones ending the year on around £70m net cash – down from £83m a year earlier – though an extra £10m from the Glasgow transaction was received just after year-end.

The developer also pressed ahead with building safety works, completing remediation on six more buildings, while continuing to review provisions as investigations progress.

Chief executive Alex Pease said the group was moving into the new financial year with a healthy pipeline despite extended deal timetables.

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