Watkin Jones Share Discussion Threads

[jonwig] 30/6/2017 05:39

Thanks EC.
The article's conclusion:

With institutional investors showing rising interest in PRS investment, the Watkin Jones model could see increased competition. However, its strong track record before float and its end-to-end development skills should support its position. The fast-growing forecast yield and modest forecast PE ratio looks attractive given the capital-light growth prospects. Buy.

[effortless cool] 29/6/2017 21:37

One of the IC tips of the week.

[panic investor] 29/6/2017 13:32

It worried me when I see alucabond and trespa cladding on their website under case studies.

My theory is that they used it but installed it correctly i.e. firebreaks.

[glaws2] 29/6/2017 13:25

Many Thanks

[panic investor] 29/6/2017 13:24

I'm starting to get the feeling that this product was mis-sold to developers/architects, WJG are top builders.

[panic investor] 29/6/2017 13:21

It's included here, don't worry about pieces falling off it's the small part of the problem from ages back but it was this that alarmed me (although it was only 5% of the building and probably not a real issue)

"Further south, Bournemouth University has confirmed that a similar type of cladding has been found on one of its student accommodation blocks.

The 16-storey building was developed by Watkin Jones for Bournemouth and the Kaplan International College, and currently houses nearly 400 students."

It just made me think "if theres one ?"

[glaws2] 29/6/2017 13:17

Could you elaborate on the "Bournemouth news" please PI - I must have missed that.

Thanks

[panic investor] 29/6/2017 12:17

It was a large part of portfolio and very profitable - sooner be safe than sorryWill be back in after things have been cleared up - I'll either pay more or less It was the Bournemouth news that swayed me to be honest - the company responded fast to my email with the above though to be fair

[douglas fir] 29/6/2017 12:05

26 Jun '17 - 12:37 - 983 of 994 0 0
indeed all looking good here, quality management

..lol....living up to your nom de plume Panic?:)...

[panic investor] 29/6/2017 11:17

I've sold out for now awaiting the result of the following review.


“Further to your enquiry we can confirm that during the planning and construction phases of each of our high rise developments we employ Fire Safety Engineering consultants as part of the design team. The works carried out on site follow the Building Regulations. As a Group we take our responsibilities seriously and as a result of the tragic events at the Grenfell Tower we are, alongside our numerous clients, carrying out a review of all completed projects and those currently under construction.”

[quepassa] 28/6/2017 12:15

The PRS sector is going ballistic.

WJG are very well-placed as a key developer in this area. They are excellent at throwing up small accommodation blocks and pre-funding them/pre-selling and finding tenants.

We have seen that so many institutions want to buy their product. And it's only going to increase. The demand for PRS is enormous from both TENANTS and INVESTORS and fills an urgent need of accommodation providers.

Additionally, my guess is that in the wake of the appalling Grenfell Tower tragedy that many councils will depopulate tower blocks permanently and look to rehouse in smaller blocks. The PRS sector is set for further explosive growth in my view.

Mark is a confident fellow but only time will tell if he really has the ambition, drive, determination and the balls necessary to grab this mammoth golden opportunity by the horns, really gear the Company up and turn WJG from a minnow into the undoubted sector champion which it could potentially be.


ALL IMO. DYOR.
QP

[someuwin] 28/6/2017 11:50

What a strong stock this is.

[jonwig] 27/6/2017 14:55

Skinny - a thread exists already: RESI! Can you post it there as well, please?

[skinny] 27/6/2017 14:46

Copied to RESI thread.

[3800] 26/6/2017 20:40

glad to see there is no cladding in the photo
3800

[someuwin] 26/6/2017 15:12

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[quepassa] 26/6/2017 13:44

Good point. Thanks.

but they are very different to the builder/developer side of the PRS business and to WJG's unique business model which extends to subsequent block management.

RESI and Private Rental REIT want effectively to invest in WJG-type product as yield-based passive institutional investors.

ALL IMO. DYOR.
QP

[jonwig] 26/6/2017 13:25

Que - by coincidence, the IPO of "Residential REIT" is planned. A thread already, under RESI. I think the plan is to invest in already-built estates of social housing. And a few weeks ago "Private Rental REIT" (PRS) floated, but not 'affordable housing'.

[quepassa] 26/6/2017 13:19

An example of just how hot the Build-To-Rent or PRS-Private Rental Sector is.

Quintain, where Simon Laffin used to be a NED before they were taken private by Lone Star and delisted, have commissioned a new £190m PRS scheme at Wembley

hXXp://www.constructionenquirer.com/2017/06/26/sisk-seals-190m-quintain-wembley-park-resi-block/


The sector is due to become even hotter as housing demand surges in the PRS sector.

The question, if not challenge,for the private investor is how to get exposure and invest in this bonanza of a new and burgeoning sector.

WJG offers a great possibility.


ALL IMO. DYOR.
QP

[panic investor] 26/6/2017 12:37

indeed all looking good here, quality management

[alter ego] 26/6/2017 12:30

comment today from simon t in the IC - concludes

"So, with forecasts de-risked, I am upgrading my target price to 225p, bang in line with analysts at broking house Peel Hunt, but at a 10 per cent discount to Jefferies, which has just initiated coverage. Run profits."

[rivaldo] 26/6/2017 09:57

Extracts:

"Plans revealed for 350-bed Chester student scheme

Accommodation would be on the site of Liverpool Road bus depot"

"Developers have unveiled plans for a 350-bed student accommodation scheme in place of a Chester bus depot.

Stagecoach has a conditional agreement over the sale of its Liverpool Road depot with negotiations ongoing to secure an alternative depot site in Chester.

And on Thursday (June 22) Watkin Jones held an exhibition at Northgate Arena where details were revealed about the student accommodation project which would be alongside the developer’s existing 128-bed student scheme in Victoria Road."

"It would be managed by Watkin Jones’ Fresh Student Living arm which runs the next door site in Victoria Road and the company’s 400-bed Tramways development near the railway station.

A 117-bed student scheme opened on the opposite side of the road to the bus depot, next to Northgate Church, last autumn."

[quepassa] 23/6/2017 09:36

Don't forget that Quintain Estates and Development started actively in the PRS sector and they were subsequently taken over by US private equity giant Lone Star in late 2015.

Simon Laffin used to be a non-exec Quintain and is now non-exec at WJG. He brings with him good knowledge of the sector from a propco which was an early mover into the burgeoning sector and subsequently taken over.


The demand for PRS is on an enormous growth path.

If WJG get it right and gear up sufficiently to meet the great and growing demand from

1. Tenants,
2. Accommodation providers (such as universities and local councils etc), and
3. Institutional investors

this company will be on a phenomenal growth trajectory.


ALL IMO. DYOR.
QP

[someuwin] 23/6/2017 09:34

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