Deputy chief executive Nick Shattock says developer is seeking a strategic partner in Bahrain or Dubai for Wembley regeneration
Quintain Estates is looking to sell up to 50% of its Wembley City regeneration project to Arab investors, according to deputy chief executive Nick Shattock.
Shattock told delegates at Cityscape Dubai that Quintain was in talks with investors from Bahrain and Dubai about selling a stake in the Wembley City project.
Wembley City is the £2.5bn project to redevelop 34ha around the revamped Wembley Stadium. John Sisk and Balfour Beatty are among the contractors building commercial and residential elements of the scheme.
We are aware that anybody interested in a scheme the size of Wembley would also like to acquire a strategic stake in Quintain stock
Nick Shattock, Quintain deputy chief executive
Shattock said: “We are looking to market a stake in Wembley, which is as much as 50%, to a long-term strategic partner. We are aware that anybody interested in a scheme the size of Wembley would also like to acquire a strategic stake in Quintain stock.”
Quintain revealed in its interim results last week that it has let 2ha of its Silvertown site to Laing O'Rourke, which will use the space as a transport link for materials to and from Olympic Park.