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Wembley Park expanded to 1,700 homes by Quantain
The delivery of new homes on Wembley Park is being ramped up by Quantain having reported a rise in profits for the 6 months prior to 30th September 20014.
The expansion of the developer’s pipeline to more than 1,700 of the 5,000 homes over the western side of the scheme in Wembley, accounting for 34% of the property it has planning permission for.
The company experience a surge in profits largely due to the increase in housing costs in London in the 6 month period
Chief executive Maxwell James said “While we continue to assess potential acquisitions for our London portfolio, with Wembley Park now established as an attractive place to visit and to live, we intend to maintain our focus on improving income from these investment assets and accelerating the pace of residential delivery in this vibrant London location,”
There are currently 475 homes under construction at Wembley Park with an additional 386 homes submitted for detailed planning permission whilst there are 850 further homes up for public consultation.
The group intends to manage 143 of the homes currently under construction, all of which being available the private rental market in 2016, in addition to the private rented properties, 166 homes have already been sold for a total of £61m.