Rental property developer Watkin Jones has secured gateway 2 (GW2) approval for its 484-bed purpose-built student accommodation (PBSA) scheme in Bristol, with a gross development value of £101.7m.
CGI of Watkin Jones’ Malago Road PBSA scheme, Bristol
The scheme, located on Malago Road in Bristol’s Temple Quarter, is being delivered in joint venture with real estate finance manager Maslow Capital. The development will comprise a mixture of studio accommodation and en-suite rooms across three blocks.
Located within walking distance of the University of Bristol, the scheme is also targeting BREEAM ‘Excellent’, EPC ‘B’ and WiredScore ‘Platinum’ certifications.
Originally acquired by the joint venture in December 2025, the Malago Road development will see the regeneration of a brownfield plot around 100m from Bedminster railway station.
The approval comes amid recent improvements to the Building Safety Regulator’s (BSR’s) GW2 process, with delays falling and approval rates rising following an initial build-up of cases when the regulator was first launched.
New research from consultancy Cast has revealed the BSR has only approved 10.7% of applications to gateway 2 since its launch in October 2023.
The figures reveal that out of 187 new-build applications for gateway 2 approval, only 20 (10.7%) secured approval.
Another 18 applications were rejected, but only 2.14% of the remaining applications in this category have not yet been validated.
Cast said the percentage of approved applications was “lower than we expected, but the most critical issue remains the timeline to approval and lack of certainty this creates in project planning and modelling”.
The consultancy also revealed the average cost of securing approval at GW2 was around £27,666, with the highest cost standing at £83,449.
The average cost of a rejected GW2 application is £12,957, with the highest cost reaching £26,168.
Cast claimed the low number of approvals “reflects an industry that is getting to grips” with the requirements of the gateway process. The consultancy has now called on the government to review the GW2 threshold.
Gwyn Pritchard, managing director at Watkin Jones, said: “The achievement of attaining GW2 for our Malago Road scheme reflects the strength of our partnerships, the quality of our design and the hard work of our teams.
“With construction already under way, we are pleased to be progressing a development that will regenerate a brownfield site and deliver high‑quality, sustainable student homes in a prime location. This project underlines our commitment to creating thoughtful, future‑ready student accommodation, and we look forward to progressing the project towards completion in time for the start of the 2028 academic year.”
Sky Mapson, senior director of origination at Maslow Capital, added: “GW2 approval is an important milestone for Malago Road and reinforces our conviction in the strength of the scheme.
“Bristol continues to demonstrate clear demand for well-located PBSA, and this development is particularly well positioned given its connectivity and proximity to the University of Bristol’s growing Temple Quarter campus. We are pleased to be partnering with Watkin Jones to support the delivery of an asset that is well aligned with the city’s long-term needs.”
Early onsite construction began this year, with completion targeted in time for the 2028-29 academic year.
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