Quintain Estates ready to capitalise on market slump

Source: Construction Digital

Date :06/02/2008 10:21:32

Urban regeneration specialist Quintain today said that it will continue to expand its business despite a downturn in the sector.

In an interim management statement today, Quintain revealed that it is to up its debt facilities to £300 million in order to take advantage of the investment opportunities thrown up by the drop in the market.

The company, behind the redevelopment projects in Greenwich Peninsula and Wembley, went on to say that it’s ‘diversified and entrepreneurial business model has continued to deliver good progress during the third quarter and the start of 2008.’

Objectives

“Since 30 September 2007, Quintain has continued to achieve key milestones on its major regeneration projects, increased the level of funds under management and has raised a further £300 million of debt funding. This funding provides us with the capacity to seize opportunities that arise as a result of the re-pricing of the investment market as well as extracting value from our existing portfolio,” said Adrian Wyatt, Chief Executive of Quintain, in the statement.

“Over the last three years we have repositioned our Investment Portfolio, reducing our level of exposure to the more traditional sectors and thereby mitigating the impact of current market conditions,” he continued.

“Over the next few years, the opportunities to create significant value in our major assets and the resilient nature of our fund management business will continue to produce rewards and position us to maintain Quintain’s track record of value creation.”

5 February 2008