Quintain builds Wembley momentum

ldo oct 2013Quintain has said it is building momentum at Wembley as it begins work on phase 2 of the development.

In its third quarter statement, the developer says that with planning permission secured for 475 apartments on the north west lands, with London Designer Outlet now 87% let and the iQ student accommodation 99.9% let for this year and ahead of historic levels for next year, they are well-poised.

Disposals in other parts of their portfolio – notably in Greenwich where they have also just sold their final asset, Mitre Passage – have put them in a better position to invest further at Wembley.

Max James, Chief Executive of Quintain, commented: “Following the successful creation of a new leisure and retail heart for Wembley Park through London Designer Outlet, momentum is building at the development and we are now poised to begin delivery of one of the most significant new residential districts this quadrant of London has seen for several decades.

“We completed our corporate repositioning last year with the Greenwich Peninsula and Sequel transactions, detailed at our Interim Results, and are pleased to announce today an additional £31.6 million of disposals. These latest transactions bring the total realised from all sales and capital recycling over the past 18 months to £500 million.”

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