Bangor -based developer and manager in the rental accommodation sector, Watkin Jones, has reached a milestone on a 800-plus bedroom accommodation scheme in Bristol with a topping out ceremony.
The Alternative Investment Market listed firm is delivering the Metalworks scheme in the Bedminster area of the city for global investment firm KKR, which has provided forward funding for the project. The development is scheduled for completion next summer in time for the 2024/25 academic year and will be leased by KKR to the University of Bristol on a long-term basis.
A topping out ceremony marks the highest point in a building’s construction. As well as 819 bedrooms the Metalworks scheme will also provide 15,000 sq ft of internal and external amenity space, including a private terrace, courtyard, and gardens.
George Dyer, group investment director of Watkin Jones, said: “We have worked closely with both the University of Bristol and the team at KKR on the Metalworks development, which represents an exemplary purpose-built student accommodation scheme.
"The topping out of this scheme demonstrates Watkin Jones’ track record in delivering quality accommodation which will offer University of Bristol students sustainable accommodation to live in, alongside high-quality amenity space. As a thriving and vibrant city, Bristol continues to be a highly desirable location to live and study in, and we believe this great scheme will help alleviate some of the housing shortage for students.”
Seb d’Avanzo, managing director and head of real estate acquisitions for KKR in Europe, said: “It’s great to see Watkin Jones hitting this milestone in an important venture that will develop exceptional student accommodation in one of the Ƶ’s top university cities. Watkin Jones is again proving to be a great delivery partner for KKR, and we’re delighted to see their innovative and sustainability-led designs for Metalworks start to become a reality.”
Watkin Jones’s other live projects include a 370 bedroom student development in Swansea which is being forward funded by EQT Exeter. The Ty Nant scheme is on track to be ready for occupancy in September.
In Cardiff it is also on site at the Central Quay mixed-use development scheme, which overlooks the River Taff at the former Brains brewery site, for the first phase of a 700-plus build to rent project for L&G.
Since 1999 it has delivered 48,000 student beds across 143 sites, making it a key player in the Ƶ’s purpose-built student accommodation market.
