Last updated 1st June 2022
Quintain
Quintain is a London-based investment and development specialist involved in a major regeneration project in Wembley. In October 2015, the company was acquired for £745 million by Bailey Acquisitions, an investment vehicle controlled by Lone Star Real Estate Fund; at the same time, it de-listed from the London Stock Exchange.
At the group”s flagship project at Wembley Park – which is the largest Build to Rent development site in the UK – Quintain is focused on transforming an 85 acre estate where it has consent for 5 million sq ft of mixed-use development.
To date it has built around 4,780 homes on Wembley Park, with more under construction and it has consent for a total of 8,500, mainly build to rent, homes as well as 750,000 sq ft of office space and 500,000 sq ft of retail and leisure space.
Quintain Living saw over 1,700 new households move-in at Wembley Park in 2021, involving more than 3,400 new residents and with rental growth of 6.5% reflecting strong demand for rental apartments. It also broke ground on its next major phase at Wembley Park, North East Lands (see below).
Construction contracts at Wembley Park developments have been award to four key contractors – Wates, McLaren, John Sisk and Son and McAleer & Rushe.
Quintain also ranks as the third largest residential developer in Ireland with over 9000 homes in the pipeline across 400 acres and a landbank which could handle almost 3 million sq ft of commercial space. In autumn 2021, the developer unveiled plans to invest 500 million euros in a new urban village in Dublin, The Crossings.
Quintain has also been a key player in the Greenwich Peninsula, a 15,000-home development around The O2 in south east London.
In autumn 2019, Quintain appointed James Saunders as chief executive officer, succeeding Angus Dod. James Saunders was previously chief operating officer. Donald Quintin, president of Lone Star Europe, was elected chairman in 2019.
Financials
To view the financials for Quintain Ltd, visit Companies House and use Company ID 02694983.
Quintain”s financial results vary significantly between years as the Wembley development takes shape. Covid inevitably took its toll on the group; in the year to December 2020, the group reported a dramatic fall in pre-tax profits to £17.1 million from £170.7 million previously. The profits were largely dependent on interest receivable and similar income. The group’s results show an operating loss of £8.2 million on a turnover of £1 million. Meanwhile, the group had £100,000 cash at bank, compared with £600,000 previously. A statement said the results for the year and the financial position at the year end were considered ”satisfactory” by the directors.
Developments
In early 2022, Quintain broke ground on the next major phase at Wembley Park, North East Lands, a 12-acre site involving 2,000 new homes with 769 – mostly build to rent – to be built in the first phase. The first two schemes at North East Lands will be two buildings of 10-27 storeys around communal gardens and the scheme also includes a public park. Construction contracts on the two schemes will be worth £220 million. John Sisk & Son started demolition and enabling works in January 2022.
In late 2021, global electronics manufacturer Casio agreed to take a 10, 000 sq ft of office space on the 5th floor of Quintain’s ‘The Hive’ building at Wembley Park.
Meanwhile, Quintain started work in summer 2020 on longstanding plans to transform the final section of Olympic Way at the stadium entrance with a new set of Olympic Steps and a widening of a pedestrianised boulevard.
Glenigan Data
Figures from Glenigan reflect Quintain”s busy development programme underway across its Wembley site. It shows that John Sisk is the civils contractor on a £30 million Quintain project involving demolition and site preparation for the Wembley Park North East Lands development where work is set to continue until late 2023 (Project ID: 21251734). Meanwhile, Glenigan data shows work is set to start later this summer on a £24.8 million scheme of some 487 flats on Quintain’s Plot NE02 at Wembley and run for 20 months (Project ID: 21321914).
Conclusion: Meeting demand for housing and commercial space in London and homes in Ireland
Quintain has emerged as one of the more ambitious London developers and demand from both tenants and investors across its core market providing housing and commercial space in the capital has rebounded well from Covid. Today, the group is focusing on delivering high quality housing and Britain”s largest build to rent scheme at Wembley Park and has a growing new homes business in Ireland. Having cut its debt to manageable levels and now under new private ownership – freeing it from some of the requirements of a plc – the group is set to remain a key player in the capital”s buoyant mixed-use development scene.
Winning Work with Quintain
External main contractors used by Quintain are among the industry’s larger players. Contractors awarded work or asked to tender for contracts by Quintain have included: Balfour Beatty, BAM Construct, Bowmer & Kirkland, Clugston, GB Building Solutions, John Sisk, Morgan Sindall, VolkerFitzpatrick, Wates and Willmott Dixon.
Key Quintain procurement contacts include:
Executive Director, Construction – Matt Voyce,
Tel: 020-7495-8968
Email: group@quintain.co.uk
Executive Director, Development – Jason Margrave
Tel: 020-7495-8968
Email: group@quintain.co.uk