- Construction company Watkin Jones said it had appointed Richard Simpson as its new chief executive, to replace Mark Watkin Jones.

Simpson would join from student accommodation developer Unite Group, where he was group property director.

The company had announced Watkin Jones's impending departure in January.

It also announced on Friday that it had entered into a development arrangement with M&G Real Estate and Lochailort to deliver a 315 apartment build-to-rent scheme in Reading.

As part of the arrangement, Watkin Jones had entered into a development funding agreement with M&G, under which it would receive £68.5m for the development works which it is to carry out.

Construction was due to commence on site immediately, with completion targeted for 2021.

At 8:00am: [LON:WJG] Watkin Jones Plc share price was -0.75p at 205.25p

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