Quintain Estates and Keystone have launched their second residential development joint venture at Wembley Park, north-west London.
A total of £19m was paid for the 1.5 acre plot, with an additional £8m agreed for infrastructure.
The development of the Alto scheme will add 120 homes to Quintain’s private rented sector business.
Maxwell James, chief executive of Quintain, said: “We are 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 co-operation with Quintain through a further 362-unit residential development, reinforcing our commitment to the future of Wembley Park.”
