8th Aug 2014 07:27
LONDON (Alliance News) - Quintain Estates & Development PLC Friday said it is making good progress on its Wembley Park development, with prices achieved ahead of expectations, and said it has refinancing its banking facilities at extended maturities.
The London-focused property firm said off-plan sales were progressing well at North West Village in the Wembley Park development, with sales agreed on 94 of the 110 homes released to date in the Emerald Gardens site. The group said the average selling prices for the homes sold so far is GBP355,000.
Quintain said the sales performance at the site was reflective of the strong demand amongst buyers at that price point.
Elsewhere, the firm said it has agreed to refinance GBP260 million in revolving credit facilities. The key terms are broadly in line with the existing facilities, Quintain said, with the expiry dates extended to the last quarter of 2018 and 2019 from March 2016.
Quintain shares were up 0.8% early Friday at 89.75 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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