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Quintain plans start on 475 Wembley homes

Quintain Estates and Developments has said construction of its 475-home residential scheme in Wembley will begin soon after March.

Last December, Quintain secured detailed planning consent from the London Borough of Brent for 475 new homes at its Wembley Park development site.

In its interim management statement for the three months to 11 February 2014, Quintain said marketing of the scheme will begin in March, with construction to start “shortly thereafter”.

It will consist of seven buildings arranged around an acre of private gardens, next to the civic centre and London Designer Outlet (pictured), also developed by Quintain.

John Sisk & Son has won all of Quintain’s projects at Wembley Park to date, worth around £300m to the contractor.

However, speaking to Construction News last September, Quintain head of construction Matt Voyce confirmed “it isn’t just going to be one contractor that builds Wembley”.

Quintain chief executive Max James said: “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.”

This month, the developer also acquired central London office building Kingsbourne House next to Holborn station for £13.7m.

Quintain said the acquisition would generate a strong income in the medium term and offer “exciting future asset management and development opportunities”.

Last autumn, it completed the sale of its 40 per cent interest in Greenwich Peninsula to its joint venture partner Knight Dragon for £230m and disposed of its regional investment property business Sequel for £53m.

The developer has since announced a further £31.6m of disposals, which it said brings the total realised from all sales and capital recycling over the past 18 months to £500m.

“This paves the way for selective investment in new opportunities that will add value and deliver attractive returns for investors,” Mr James added.

Quintain Q3 disposals

Mitre Passage office building, Greenwich Peninsula - £17.1m

Retail interests, Greenwich Peninsula - £5.7m

Office building, Sheffield - £2.9m

Office building, Jersey - £3.6m

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