03 Oct Quintain raises £227 million for Wembley build-to-rent homes

Property developer Quintain has secured £227 million from US investment bank, J.P. Morgan, to finance the construction of two residential buildings at North East Lands on the Wembley Park site.

The buildings will provide 769 out of the new 2,000 homes planned for the area. Shops, cafés and restaurants are also planned for the seven-acre Union Park, which is part of the re-development and is Wembley’s first new park in more than 100 years.

Demolition works began on the site in January, and both buildings are expected to be completed in early 2025. 

James Saunders, chief executive of Quintain, said: “This deal with J.P. Morgan is yet another sign of the financing market’s confidence in Quintain and our product in a time of economic uncertainty elsewhere in the market. We’re delivering another 769 homes at Wembley Park, along with Union Park, at the right time and at the right cost.”

Quintain has also signed a £227 million fixed-price construction contract with John Sisk & Son (Sisk) to complete the build. The deal is Quintain’s largest construction contract to date.