Watkin Jones eyes stronger H2 as cash reserves climb

Watkin Jones is “monitoring market volatility and conditions”, as the BTR developer looks to deliver a stronger second half. In its half-year 2025 trading update the group, led by chief executive Alex Pease (pictured), said that as of 31 March it had gross cash of £87m, up from £67m at the same time last year, and net cash of £73m, up from £44m. During the period, the group signed two development partnerships.  In December 2024, Watkin Jones signed an agreement with Torus to build 295 new homes as part of a regeneration scheme in St Helens, Merseyside. In February 2025 it agreed a development partnership to deliver a 260-room aparthotel in Southwark, SE1. Infinite and Latium Real Estate will be the owners and operators of the development on New Kent Road, which is expected to generate revenue of approximately £36m for Watkin Jones. In its trading update, Watkin Jones said: “In what remains a challenging market backdrop, management have continued to focus on delivery, cost management and cash generation. Our strong operational focus is expected to result in a small positive operating profit for the period, with good construction delivery on in-build schemes which have traded in line with our stated margin guidance. “We are monitoring market volatility and conditions closely, in particular those relating to residential transactional liquidity, but our current pipeline continues to provide the potential to deliver an expected stronger second half.”