Work is expected to start at the Bath Lane site in Leicester in financial 2018, with a phased completion over the next two years. The 322-unit site will consist of 174 one-bed flats, 137 two-bed flats and 11 three-bed flats.
Watkin Jones specialises in developing and building multi occupancy property assets, particularly student accommodation and build-to-rent (BTR) housing.
It now has six build-to-rent schemes targeted for delivery over the next four years, with a number of planning applications and other site acquisition opportunities in negotiation.
Chief executive Mark Watkin Jones said: "We are delighted to announce the further progression of our BTR business. Our plan to sustainably grow this exciting element of the group continues and we are pleased to see that opportunities from within the development pipeline are moving forward. We believe the BTR business will continue to drive growth, alongside our student accommodation business, as well as providing excellent visibility of earnings and cash flow."