Developer Quintain Estates has bought a site in Wembley to help pay for its £500m plan to regenerate an 18 ha area surrounding the national stadium.
Quintain has paid £17m for a building with 37,000 m2 of warehousing space that it expects to generate £1.1m a year in rental income.

The deal includes 4.3 ha of land adjacent to the area that Quintain plans to regenerate.

Nick Shattock, the property director at Quintain said: “Acquiring this income-producing site consolidates our ability to provide a comprehensive regeneration of the Wembley area. It also underlines our strategy of balancing income.”

Architect Richard Rogers is drawing up the masterplan for Wembley.