Wembley Park

Quintain Estates and Development PLC

Wembley Park15 April 2014


Agenda

• Wembley Park Strategy

• Destination Wembley

• Development Milestones

• London Designer Outlet

• Next Residential Phase

2

Insert text about image here


1. Location and infrastructure

2. Identity and vitality

3. Entertainment, recreation and

living

Components of Urban Regeneration Success

• Branding / market positioning

• Activity / footfall

• Association and loyalty

• Proximity to existing neighbourhoods

• Transport links / accessibility (public)

• Parks, river, attractions

• A great place to visit

• A great place to shop

• A great place to live

Crea

tion

of

virt

uous

cir

cle

4


Investment Rationale

M11

M1

M40

M3

M4

M25

M25

Western value corridor

Wembley

GreenwichPeninsula

SuperPrime

Urban

Stratford

Sub-urban

Prime

Urban

Prime

Sub-urban

Earl’sCourt

NineElms

King’sCross

Eastern value corridor

5


Wembley ParkMarket Outlook in Wider London Context

• 50,000 new London homes required per annum to support net immigration

– 24,000 built in 2013: shortfall of 26,000 per annum

• Satisfying demand at this price point corresponds to TfL Zones 3-6

• PRS at this price point is viable:– Wembley Park appeals to PRS tenants at this rental level

– yield attractive to PRS investors

DemandHighest in the lower-mainstream and

mid-mainstream brackets

SupplyFocused on wealthy, equity-rich buyers

in upper-mainstream and prime brackets

Lower-Mainstream Demand:

2,500 p.a. owner-occupied10,500 p.a. PRS

Mid-Mainstream Demand:2,500 p.a. owner-

occupied10,500 p.a. PRS

Shortfall:7,500 homes p.a.


Upper Mainstream Demand:

3,500 p.a. owner-occupied2,500 p.a. PRS

New Prime Demand:2,500 p.a. owner-

occupied500 p.a. PRS


No shortfall

6


0

2

4

Residential Retail / leisure Other Offices

Mill

ion

sq f

t

Completed Consented

Wembley Masterplan

53%4.52m sq ft

Completed

Consented

16%1.36m sq ft

17%1.45m sq ft 14%

1.18m sq ft

520 Homes

Arena, hotels &

LDO Student

7


Excellent Infrastructure

8


Development Phasing

9

2005: Redundant Industrial Land

Quintain Estates and Development PLC 112006: Renovated Wembley Arena

122007: New Wembley Stadium and Arena Square

2007: Redevelopment Site

142008-2010: Forum House & Quadrant Court (residential)

15

2012: Apt Student Living

16

2012: London Wembley Hilton

2012: London Designer Outlet Construction Site

Quintain Estates and Development PLC2013: Brent Civic Centre


2013: London Designer Outlet


London Designer OutletMajor new retail and leisure centre

• Planning permission secured in 2008

• Anchors secured in 2011

• Opened 24 October 2013

• 87% let*

• 1 million visitors in first 11 weeks

• Easter London-wide launch

*1st year base rent exchanged or in solicitors’ hands

20


London Designer Outlet

Cinema

Restaurants & Bars

Upper Retail Level

Lower Retail Level

9 screen Cineworld

20 restaurant units

80 retail units over two levels

350,000 sq ft development (GEA)

21


London Designer Outlet: Destination Shopping

A day out destination for some great bargain hunting and good

food in a fun, exciting yet relaxed atmosphere and environment

Easy to get to: unparalleled access

by road, rail and Underground An exciting,

cosmopolitan, mixed-use lifestyle

destination

London’s only designer outlet

centre

Located in a vibrant, affluent, urban and

cosmopolitan catchment

Only 20 minutes from London’s

West End

22


Leasing Strategy

• Phase 1: Put “wish list” anchors in place as magnet for local footfall

• Phase 2: Assemble mainstream F&B brands to create rounded experience

• Phase 3: Attract fashion and lifestyle labels using footfall from anchors and location

Phase 1: anchors in place Phase 2: F&B brands secured Phase 3: fashion & lifestyle

23


• Cinema and restaurants predominantly on standard institutional leases

• Retail leases typically comprise base and turnover elements

• Base rent on the retail units is increased annually (upwards only) to 80% of the previous year’s combined rent

• Mechanism allows for rapid rental growth when the centre performs well

Outlet Centre Rent Review Mechanics

24


Outlet Leasing Patterns

Opened 1993Mainstream Opened 1995

Premium

£psf

Sources: Realm and CBRE

500%

400%360%

225%

350%

% Increase in rent since opening

19 years

17 years

17 years

14 years

11 years

25


London Designer Outlet: Target Customers

Consumers within one hour:10.4 million people

Wembley event goers: 4 million people

Local consumers:0.7 million

people

peoe)

International London Tourists: 15 million people

26


‘Hello Wembley’: an International Icon

27


Developing a Brand and Product Hierarchy

Young-minded urban aspirational

“Destination Wembley”

Product

Price & packageApartment design

Product mixPresentationAfter-sales

Value

Place

ArchitecturePublic realm

ArtLandscape

People

Art & cultureCommunity

EventsMarkets

Retail mix

Who are we targeting?

What are we creating?

How will we achieve this?

London’s newest and most exciting neighbourhood

Service

CustomersResidentsTenants

28


Wembley Partners

29


Transforming Footfall

30

4 million event-goers

8-12 million people attending events,

shopping and spending leisure time at Wembley

2007 2014

Operating Income / Investment Income Investment Income / Operating Income


Transforming Wembley Park

31

The Home of Footfall…


Wembley Park PositioningBig experience + human scale

32


2014: Wembley Park Boulevard


Revitalised Wembley Park

34


2014: Next Residential Phase


Residential QuarterResidential Quarter


Residential Quarter1,300 homes next to Wembley Park Station

• Detailed planning permission for 475 homes

– seven buildings around an acre of green space

– 5-16 storeys

– 90% private homes

• Marketing staring in Q2 2014

• Construction starting Summer 2014

37

Quintain Estates and Development PLC 38

Wedding Gardens

Wembley Stadium

Wembley Arena

15 cafes & restaurants

9-screen cinema

Neighbourhood Square

70 shops at LDO

Hilton Hotel

All just 20 minutes from Bond Street, 30 minutes from Heathrow


Destination Wembley

39

Stadium Arena 4* Hotel

London Designer Outlet

Wembley Park residential

Brent Civic Centre

Exceptional footfall New green space

Vibrant entertainment

Wembley Park

Documents