13th Feb 2015 09:56
(An item published at 0846 GMT misstated the nature of the private apartments sold. The correct version follows.)
LONDON (Alliance News) - Quintain Estates & Development PLC on Friday said it has now pre-sold 80% of the private apartments at its Emerald Gardens project in north west London and said planning permission was granted in the past week for the next residential development at the project.
Quintain said 80% of the 284 private apartments at Emerald Gardens have now been pre-sold, with the pricing and volumes ahead of initial expectations.
It also has received planning permission for the next batch of 370 apartments at the site, bringing the total pipeline of units to 845.
"This week's planning approval for the next residential development, Alto, will enable us to increase the number of homes under construction this year to 845, ensuring a pipeline of completions to the end of 2017 at a price point where a significant imbalance persists between supply and demand and buyers may also benefit from the [UK] government's Help to Buy scheme," said Quintain Chief Executive Maxwell James.
Shares in Quintain were trading down 0.5% at 96.50 pence on Friday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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