Quintain has announced a second joint venture with Keystone Alto S.A. to deliver 260,000 sq ft of residential development at Wembley Park.

The partnership will pay Quintain £19 million for the 1.5 acre plot and a separate £8 million for future infrastructure to be developed.

Two buildings comprising of 362 homes will be built on the site, with Quintain paying £36.8 million for 120 of the homes.

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Chief Executive of Quintain, Maxwell James, said: "We are delighted to now be joint venturing a second plot with Keystone, further accelerating residential delivery into a supply constrained market, increasing our emerging PRS business by 80% and enabling Quintain to maximise return on equity."

Giorgio Laurenti, Chairman of Keystone Group, said: "After the first successful 475 unit residential project we are encouraged to expand our cooperation with Quintain through a further 362 unit residential development, reinforcing our commitment to the future of Wembley Park."

(LM/CD)