Quintain Estates & Development’s interim statement was upbeat on progress at their Wembley City development.
They say their activity is focused on the completion by October 2013 of the 2m sq ft Western Core, adjacent to the Stadium, which will be home to a 361-bedroom Hilton. This is on schedule to open prior to this summer’s Olympic Games.
They also say strong progress continues on signing retailers for the London Designer Outlet (“LDO”), with 45% of the centre let. They have also appointed Realm as asset manager of the LDO.
The 660-bedroom student accommodation block next to the Hilton is on schedule for opening this September, at the start of the academic year. This block was forward-sold to Keystone & Partners for £54.5m, and has agreement with the University of Westminster to fill 481 of the bedrooms.
Quintain also announced that London Organising Committee of the Olympic Games (“LOCOG”) is leasing 100,000 sq ft of space for the games, and is now constructing its Wembley compound, which will be a temporary structure.