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26/05/2015

Quintain Announces Interest Sale Of Hilton Hotel

Quintain has accepted an offer for its 50% interest in its Hilton hotel development at Wembley Park.

Joint venture (JV) partners Oaktree Capital Management have offered £40 million for the 361 bedroom four star hotel.

The Hilton London Wembley was developed by Quintain and is located within the entertainment quarter of its 85 acre development.

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The deal will enable Quintain to increase the building of homes at Wembley Park.

472 apartments are currently on site at Emerald Gardens plot and the company has secured planning consent for a 362 home development on the adjacent Alto plot, with outline planning permission for approximately 4,000 additional homes.

Max James, Chief Executive of Quintain said: "We will recycle the profits into accelerating the construction of new homes at Wembley Park, where we continue to achieve good prices on the apartments at Emerald Gardens and our latest development, Alto."

(LM)

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