Quintain has invested over £1billion to transform an 85-acre site in the north west London estate.

The firm also confirmed it plans to double its investment over the next five years at Wembley Park.

Angus Dodd, Chief Executive of Quintain commented: "In just two years since Lone Star purchased Quintain we have successfully de-risked the business which has enabled us to commit this significant sum towards the continued transformation of Wembley Park. During this time we have secured planning consent for the Wembley Park 7,000 home Masterplan; secured an £800m debt funding facility and £65m infrastructures loan; and switched our business strategy from build to sell to build to rent.”

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"We are convinced it is right to move ahead with more construction and investment at Wembley Park. There is a severe shortage of homes in London, so we believe demand will hold up – particularly for our rental offer – and on the office front we offer rents which are significantly cheaper than the West End in a location which is just 12 minutes from Baker Street."

The £1bn spend to date at Wembley Park has included:

• 1,000 new homes, new outdoor spaces and a public playpark;

• Substantial renovation of SSE Arena, Wembley;

• Student accommodation, 361 bed Hilton hotel and new parking facilities;

• London's first Designer Outlet centre (LDO) which includes 50 high street outlet stores, 20 restaurants and bars, and a 9‐screen Cineworld cinema;

• Land purchases and site wide infrastructure.

Future spend at Wembley Park, estimated at £2bn, will support the delivery of:

• A further 6,000 homes across a wide range of tenures, the majority available to rent;

• 1 million sq ft of Grade A office and work space;

• 250,000 sq ft of new shops and restaurants;

• 42 acres of public realm; including a new London Square and a brand new seven acre park;

• New community hubs, medical facilities and learning spaces;

• Long term parking facilities.

(CD)