Quintain is planning to team up with foreign capital to make a play for central London assets.
Chief executive Max James said the firm will source “assets where we can add incremental value through development and asset management”.
The strategy will be led by West End specialist Nigel Kempner, who joined Quintain in 2012 when the listed developer bought his firm Grafton Advisors.
Kempner said he will look for off-market deals to buy income-producing assets in the £30m-£50m price bracket “where we can combine our development management skill with overseas money”.
He added that its two biggest competitors in the West End, Derwent London and Great Portland Estates, would not be looking at this size of market transactions.
Quintain declined to name any potential investors but said: “Lots of different overseas institutions have talked to us and we are now in a position to take those discussions forward.”
The fund manager and regeneration specialist also plans to “bring more development forward on an aggressive ?basis” at its mixed-use Wembley Park project, where it has opened the London Designer Outlet.
It has outline consent for 6.7m sq ft of further development, including 5,000 homes.
It plans to focus on delivering houses to the “mid-mainstream” and “upper-mainstream” brackets.
The plans came as the fund manager and regeneration specialist reported a net asset value of 106p per share in the six months to the end of September.
This rises to 112p after the sale, including Quintain’s final 40% stake in the 14m sq ft Greenwich Peninsula regeneration to joint venture partner Knight Dragon, which was completed following the period end.
Its debt will be halved to £175.3m, putting Quintain in the position “to look forward and grow… with a London-focused portfolio”, said James.
bridget.o’connell@estatesgazette.com
