Quintain has vision of Wembley

The massive regeneration of Wembley has taken another step forward with Quintain getting planning permission for the 157,930 sq.metres (1.7 million sq.ft.) Wembley City North West scheme.

It will be built around the new civic centre with 1,300 homes, a new shopping street with 30 units and a department store together with the upgrade of the Olympic Way, the pedestrian route into the stadium.

The £500 million development will be built in tandem with the existing plan for a mixed use scheme of 594,560 sq.metres (6.4 million sq.ft.) surrounding the sports stadium. An interesting point about the planning permission for the North West sector is that Quintain is required to provide only 15% of the housing for social tenants.

Adrian Wyatt, Chief Executive of Quintain, believes Wembley will benefit from the strong growth of the London economy over the next 15 years at a faster pace than other major cities in the world, said PwC.

Evidence of this growth is apparently provided by the take up figure for offices in London over the past few years, which was over 510,950 sq.metres (5.5 million sq.ft.) in the first six months.

Wyatt sees Wembley as another nodal point for London with a travelling time of only 10 minutes to Marylebone. He is not alone in his bullish view of Wembley because St Modwen is engaged in a £90 million development around the central railway station and high street for 12,542 sq.metres (135,000 sq.ft.) of retailing, together with offices, an 86 bedroom hotel and 24 flats.

The sheer scale of the development in Wembley will probably carry the area forward, as it is likely to do in Stratford with the vast new Westfield Shopping Centre, which has just opened, and the Olympic sports facilities. Apart from the opening of the shopping centre, this scheme has moved forward with Jones Lang LaSalle and BNP Paribas Real Estate being appointed by Lend Lease and London & Continental Railways to market the 371,600 sq.metres (4 million sq.ft.) International Quarter Stratford City campus. Construction of the £1.3 billion scheme on 500 acres will start in 2013 and is expected to benefit from the publicity generated by the Olympic Games.

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