Quintain is set to transform Wembley Park into the largest build to rent development site in the UK
The developer has revealed a construction programme for 5,000 PRS homes around the National Stadium
Funding and planning is in place and Quintain said “construction will also be at a pace not seen at any other major development site, with 3,000 homes under construction by the end of 2017.”
The 5,000 homes will be delivered in phases over the next seven years.
The developer currently has four contractors on its Wembley framework – Carillion, McLaren, Sisk and Wates. But work could be opened up to new firms.
The homes will be available through Quintain’s build to rent business Tipi which was launched last April.
By the end of this year there will be 3,000 homes under construction, alongside a new seven acre public park, a new landscaped London square, a three-form entry primary school and a wide range of shops, restaurants and workspaces.
Quintain has already invested £900m in the transformation of Wembley Park and has a further £800m of funding secured.
Angus Dodd, Chief Executive of Quintain, said: “Our commitment to build to rent at Wembley Park means we can deliver the homes London needs far faster than if we were selling homes privately and ensures they will be occupied very shortly after they are complete.
“This long term commitment also means we can design homes specifically for the needs of today’s generation of renters and provide fantastic shared facilities and professional management arrangements which our residents love. We will ensure no apartment is left empty.
“Quintain owns the entire 85 acre site – a huge area in the context of London – allowing us to deliver in a co-ordinated manner the apartments, the parks, the outdoor spaces and the commercial, retail and entertainment uses which are such an integral part of Wembley Park.
“We are creating, a 21st century great estate for London, in tune with what all Londoners want today and enhancing and contributing to the wider borough of Brent.”
Cllr Muhammed Butt, Leader of Brent Council, said: “To have 3,000 new homes under construction in one location this year shows just how in demand Wembley Park is as a place to live and it is comforting to know that with professional management in place, we won’t have a single rogue landlord.
“I have been hugely impressed with the quality of homes being built at Wembley Park and Quintain has also made a huge investment to upgrade all the public spaces around the area to bring the place alive with events, shops, workspaces and other attractions.”