Quintain has secured a a £233.6m loan from Bank of America for the refinancing of London Designer Outlet and the Ferrum build-to-rent development, both at Wembley Park.
Ferrum features 627 BTR flats, inspired by New York-style warehouse lofts and delivered in phases during 2019 and 2020. Managed by Quintain Living, it is part of a four-block complex near White Horse Square.
Quintain has delivered more than 5,000 homes at Wembley Park in the past 20 years and aims to establish the UK’s largest BTR community, with an investment of £2.9bn to date.
In the past year, it opened a new NHS GP surgery at Wembley Park, the largest in the borough. By 2025, Quintain aims to complete two additional BTR developments, along with a new public park.
The London Designer Outlet, managed by Multi-Realm, offers 265,000 sq ft of retail and leisure space, featuring 70 brands. Last year, the shopping centre secured 11 new leases and anticipates further lettings this year.
Philip Slavin, chief financial officer at Quintain, said: “While this is not the first facility we have secured from Bank of America, it is certainly our largest and represents an ongoing, positive relationship. Ferrum and the LDO are extremely important assets at Wembley Park, and two we are particularly proud of.”
Photo © Chris Winter/Quintain
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