Business
First Quarter Interim Management Statement
First Quarter Interim Management Statement.
About this update from Quadrise Plc
[{"type":"text","content":"\n \nRNS Number : 1110L Quintain Estates & Development PLC 07 August 2013 \n \n\n\n7 August 2013\n \nQuintain Estates & Development PLC\n(\"Quintain\" / \"Company\" / \"Group\")\n \nFirst Quarter Interim Management Statement\n \nQuintain, the London development and investment property specialist, today issues the following Interim Management Statement for the period from 1 April 2013 to 31 July 2013.\n \nHighlights \n· Planning permission secured for Peninsula Quays at Greenwich \n· London Designer Outlet over 70% let[i] ahead of October opening \n· iQ already 85% let for the new academic year starting in September \n· £115 million sterling bond issued \n \nMax James, Chief Executive of Quintain, commented:\n \n\"Having secured three important planning decisions at Greenwich in July, Quintain is now well placed to accelerate the delivery of new homes in London into a strong market characterised by an acute shortage of supply. \n \n\"At Wembley, we are delighted with progress at London Designer Outlet, which is now over 70% let ahead of opening later this year and well placed to become a vibrant new retail and leisure experience for Londoners. We will shortly be submitting plans for the first phase of new homes at Wembley, under the new 'Wembley Park' brand.\n \n\"Our balance sheet continues to strengthen with last month's bond issue diversifying our funding sources. This demonstrates growing confidence in the re-vitalised Group and reflects the progress we are making in its re-positioning.\"\n \nGreenwich Peninsula\n \nThe joint venture with Knight Dragon, which is delivering the 14 million sq ft development of Greenwich Peninsula, last month celebrated its first anniversary with three milestone planning decisions that propel the development into delivery mode:\n \n· a new master-plan for Peninsula Quays has been granted planning consent. This design, which provides for 1,683 apartments, two hotels and 90,000 sq ft of shops and restaurants, creates a new benchmark for the quality of cohesive development that will be delivered by the joint venture;\n \n· the Deed of Variation to the original Section 106 agreeme...