Presentation by the management team of Watkin Jones – 01/02/2024

Panelists: Alex Pease, Chief Executive Officer and Sarah Sergeant, Chief Financial Officer

Watkin Jones (WJG) develops build-to-rent (BTR) and purpose-built student accommodation (PBSA) schemes, largely forward-funded by institutional investors, which acquire sites from WJG with the benefit of planning and then pay for the works monthly as development progresses, thus reducing capital tie-up for WJ. The group also provides an accommodation management service through its Fresh Property Group (FPG) business, which manages both WJG and third-party developed assets, and operates a more traditional housebuilding business focused on the North West. The company, which was founded by carpenter Huw Jones in 1791, evolved as a developer before specialising in student accommodation, and was admitted to AIM in 2016.

Watkin Jones - FY23 Results Presentation

Watch the full presentation below or navigate to the segments and questions that interest you the most.

1. Have you indicated a dividend policy going forwards?

2. Could you provide a little more information about building safety provisions. They seem to clash with the idea of the business being capital light. How did they come about - were there gaps in the contracts?

3. With regards to student accommodation, is it all graduate accommodation or have you got specialist postgrad and other types of accommodation as well?

4. With investor appetite returning and gaining momentum, has there been a linear improvement over recent months or has it been more lumpy? And how does BTR appetite compare with PBSA?

5. With the 'hollowing out' of city centres, have you detected an increased willingness from local authority planning officers to grant schemes? Have the schemes also become bigger as a result?

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