Student housing helps Quintain – London
Developer Quintain made solid progress on its development site by Wembley football stadium in the first half, but at the cost of higher debt levels.
The company pre-sold a student housing block under construction to Keystone & Partners, receiving £14.5m upfront, with a further £38.5m due when the works are complete. It has also sold an ageing hotel for £15m. That cash will relieve some of the upward pressure on gearing as construction works continue at Wembley and elsewhere.
Quintain is building a second student housing block in Shoreditch for its 50/50 joint venture with the Wellcome Trust …