Watkin Jones says that it has agreed a development partnership with an anonymous private investment group to put up a nine-storey aparthotel on a brownfield site on New Kent Road, Southwark.
Over the course of the project, which is due to be delivered in 2027, the development is expected to generate revenue of approximately £36m for Watkin Jones.
Chief executive Alex Pease said: "We are delighted to announce this development, which will supply high-quality accommodation as well as lifestyle spaces for the local community.
"This development partnership underscores our market-leading expertise in constructing residential for rent real estate. It demonstrates our ability to continue to be proactive in leveraging our skills and experience by being flexible in our approach, as we continue our strategy to diversify our income streams and broaden our offering."
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