Quintain makes Wembley progress

Quintain has said Wembley Park sales are progressing well in its Interim Management Statement.

The statement, covering the period from 1 April to 7 August 2014 said that off plan sales are progressing well in the North West Village portion of Wembley Park.

Quintain say construction of the 475 home Emerald Gardens is well underway, and sales have been agreed on 94 of the 110 homes released to date. Of these 87 have exchanged contracts and a further 7 have been reserved.

The first completions, including the 143 homes that will seed Quintain’s new Private Rental Sector business, will take place during the first half of 2016, with the balance delivered over the subsequent 12 months.

Quintain say the new leisure and retail quarter at Wembley Park, focused around the London Designer Outlet centre, continues to act as an important differentiator for residential purchasers. Recent openings at London Designer Outlet include Helly Hansen, The North Face, Without Prejudice and Kurt Geiger. Next will open a 7,800 sq ft store next month, anchoring the south east corner of the centre.

Maxwell James, Chief Executive of Quintain, said: “We are delighted with the progress being made at Wembley Park, most particularly residential sales momentum ahead of the next launch in September. The prices achieved remain ahead of expectations, demonstrating both the strength of buyer demand at these price points and the growing appeal of Wembley Park. Alongside this, the refinancing of our bank facilities at extended maturities provides the appropriate financial platform for the execution of our strategy.”

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