Watkin Jones sells Wembley student site for £90m

Watkin Jones has forward sold a 599-bedroom student accommodation development in Wembley, west London, to DWS for £90m. The Kelaty House scheme is DWS’s first purpose-built student accommodation acquisition. It has planning consent for 599 student beds, with associated amenity and management space. It also includes retail space and external landscaped areas. Completion is expected in time for the 2021/22 academic year and the asset will be managed by DWS’s Fresh Student Living platform. Richard Simpson, chief executive at Watkin Jones, said: “The Wembley regeneration story is remarkable and it is firmly established as a destination of choice by students for their accommodation.” Mike Hill, head of real estate transactions, UK & Ireland, at DWS, said: “Kelaty House is an ideal first acquisition for DWS. It offers scale and is located in the regeneration area of Wembley, which is fast becoming a vibrant hub for students and will benefit from the strength of London’s student housing market.” The student accommodation scheme forms part of a wider mixed-use site, which also includes 300 build-to-rent flats, which DWS will deliver for Kelaty Propco, a joint venture between Singaporean Lum Chang Holdings and Sin Heng Chan. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette