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A historic Welsh construction group has outlined plans to float on the London Stock Exchange.

Watkin Jones, which is headquartered in Bangor, was founded in 1791 and specialises in the construction of student accommodation schemes.

Since 1999 the business has built more than 28,000 student beds across 88 sites across the UK.

It also has a pipeline of development projects, which have been granted planning permission, with target completion dates ranging between 2016 and 2018. Within this, there are currently 17 developments scheduled for completion before the end of 2017.

The most recent accounts for the Watkin Jones Group show the business made a pre-tax profit of £12.5m on turnover of £255.2m in the year ending 30 September 2014.

Watkin Jones has now outlined to investors plans to float on AIM with admission expected in late March 2016.

Zeus Capital was named as the nominated adviser, joint broker and joint bookrunner.

Watkin Jones has recently submitted plans for a 42-storey tower in Cardiff (pictured) that would become Wales' tallest building once constructed. The proposals are set to be considered at a meeting of Cardiff's planning committee today (9 March 2016) with a recommendation for approval.