Quintain (company)

Quintain is a British-based property investment and development business, which operates through Urban Regeneration, focussed on schemes in Wembley Park and Asset Management, with headquarters in London.

Quintain Limited
TypePrivate
IndustryProperty
Founded1992
HeadquartersLondon, England
Key people
James Saunders, CEO
Revenue£20.2 million gross rental income at 31 March 2011
£20.2 million (2011)
£20.2 million (2011)
Number of employees
Circa 150
Websitewww.quintain.co.uk

History

The business was founded by Adrian Wyatt and Christopher Walls in 1992,[1] and first listed on the London Stock Exchange in 1996. It acquired Fiscal Properties plc and Croydon Land & Estates Limited in 1997, English & Overseas Properties plc and Chesterfield Properties Limited in 1999, and Wembley (London) Limited, owners of the land around the stadium in Wembley, north London, in 2002.[2]

At one stage, property investor Paul Kemsley invested heavily in the company. He then sold his shares to HBOS, which tried unsuccessfully to take over the company.[3]

In February 2012 the company acquired Grafton Advisers, a property management business focused on West End commercial assets, which took the level of assets under management to £2.3bn.

Adrian Wyatt handed over to Maxwell James as CEO in May 2012.[4]

At Wembley Park 500 homes were built and occupied, and Wembley Arena was renovated and re-opened. A 661-bedroom student scheme and 381-bedroom Hilton Hotel were built. The London Designer Outlet (LDO) opened in autumn 2013.

In July 2015, Quintain accepted a £700 million offer from Lone Star Funds.[5] However, the deal had only been approved by 71.7% of the shareholders - short of the 75% required for the deal to go through. Activist hedge fund, Elliot Associates LP, took control of 12.9% of voting rights for Quintain. As a result of the pressure put on by the activist hedge fund, Lone Star Funds increased the buyout offer to £745 million. This represents a bid that is 10 pence higher than the previous.[6] One of the intriguing parts of the buyout lies in Quintain's preapproval to build 5,000 houses surrounding Wembley Stadium - home to England's soccer team.[7]

Quintain has approval to build 8,500 new homes near England's national football stadium at Wembley and Lone Star plans to accelerate the construction at the project after its bid is accepted.

In 2016, Quintain launched Tipi to manage all 6,000 of the Build to Rent apartments for rent at Wembley Park. In 2020 Tipi was re-branded to Quintain Living.

References
  1. Quintain founder Adrian Wyatt steps down, Building, 24 May 2012
  2. Quintain signs on for Wembley land
  3. Lehmans bet lands tycoon in high court, The Observer, 24 May 2009
  4. Spotlight On... Adrian Wyatt, Quintain founder and chief executive, Independent, 25 May 2012
  5. "Lone Star targets Quintain in £700m London property deal". FT.com. 29 July 2015. Retrieved 8 October 2015.
  6. Patnaude, Art; Fletcher, Laurence. "Activist Pressure Prompts Lone Star to Boost Offer for Quintain Estates". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-11-06.
  7. ncallanan, Neil Callanan. "Lone Star Raises Quintain Offer After Pressure From Elliott". Bloomberg.com. Retrieved 2015-11-06.

Quintain Living Wembley Park

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