Quintain is to significantly increase the proportion of homes for rent in its Wembley Park plans.
The developer has announced plans build out the remainder of Wembley Park with an increased number – almost 5,000 private rental (PRS) homes. It also says it wants to get 3,000 of those under construction during 2017.
The change means that over 70% of the total stock at Wembley Park will be built for private rent.
The new homes will be let through Quintain’s build-to-rent business, Tipi, which launched in April 2016, and which manages the 141 apartments already let at Wembley Park.
The other 2000 homes are for private sale – 733 homes of which 522 are already completed and 211 under construction – shared ownership and social rent.
Angus Dodd, Chief Executive of Quintain, said: “Our commitment to build to rent at Wembley Park means we can deliver the homes London needs far faster than if we were selling homes privately and ensures they will be occupied very shortly after they are complete.
“This long term commitment also means we can design homes specifically for the needs of today’s generation of renters and provide fantastic shared facilities and professional
management arrangements which our residents love. We will ensure no apartment is
“Wembley Park is already a destination alive with activity and experiences and we are
constantly improving and enhancing what is on offer. With Tipi’s services, superb new buildings, brilliant transport connections, London Designer Outlet and major events venues literally on the doorstep, we firmly believe Wembley Park will be the best place to rent in London.
“Quintain owns the entire 85 acre site – a huge area in the context of London – allowing us to deliver in a co-ordinated manner the apartments, the parks, the outdoor spaces and the commercial, retail and entertainment uses which are such an integral part of Wembley Park. We are creating, a 21st century great estate for London, in tune with what all Londoners want today and enhancing and contributing to the wider borough of Brent.”
Cllr Muhammed Butt, Leader of Brent Council, said: “To have 3,000 new homes under construction in one location this year shows just how in demand Wembley Park is as a place to live and it is comforting to know that with professional management in place, we won’t have a single rogue landlord.
“I have been hugely impressed with the quality of homes being built at Wembley Park and Quintain has also made a huge investment to upgrade all the public spaces around the area to bring the place alive with events, shops, workspaces and other attractions.
“Wembley Park is a huge success story for Brent, bringing real benefits to our residents and visitors and a new economic engine to the area and I would urge all Londoners to take a look at the area which has been transformed over the last decade.”
Sadiq Khan, Mayor of London, said: “This development will provide 5,000 much-needed private rented homes for Londoners. It will take time to fix the housing crisis, but at City Hall we are committed to help deliver schemes like this that will increase the supply of homes across the capital.”