A finance package of £172.5 million has been agreed for the next phase of a major development programme at Wembley Park.

Quintain is moving its development project forward with funding from Cheyne Capital, which will support the development of the latest block in the Eastern Lands quarter. It will consist of 458 homes and include a multi-storey coach and car park.

Angus Dodd, Chief Executive at Quintain said: "Cheyne is an existing funder of the business on other phases under construction and we are delighted that it is continuing its support through co-funding the next development in the pipeline. The funding structure is bespoke for Build to Rent (BtR) and was executed in a highly efficient manner, demonstrating Cheyne's expertise in this area. The funding will take the aggregate number of residential units under construction at Wembley Park back to over 3,000. These homes are on track to be delivered in phases over the next two years and will all be managed by Tipi."

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The Eastern Lands homes are being delivered entirely for rent, including discount market rent and London living rent, all of which will be managed by Tipi, Quintain's lifestyle- focused rental brand. John Sisk & Son will serve as contractor for the project.

(CM/MH)