UK housebuilder Watkin Jones has forward sold two of its student accommodation developments in Cardiff and Belfast.

The first scheme is a 472-bed scheme on Bridge Street close to Cardiff Queen Street station. The project is scheduled for completion in August 2018.

In Belfast, the developer has also sold a 340-bed project opposite John Bell House in Queen Street, which was completed in August this year.

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Both developments have been purchased by institutional investors for undisclosed fees.

Mark Watkin Jones, Chief Executive Officer of Watkin Jones, said: "We are delighted to announce today that we have forward sold our developments in Cardiff and Belfast to two institutional investors in purpose built student accommodation, which further underpins the visibility of our earnings and cashflow. The interest in the sector remains strong."

(LM)