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

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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

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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

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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

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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

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Excellent Infrastructure

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Development Phasing

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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)

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2012: Apt Student Living

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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

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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)

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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

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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

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• 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

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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

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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

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‘Hello Wembley’: an International Icon

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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

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Wembley Partners

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Transforming Footfall

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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

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The Home of Footfall…


Wembley Park PositioningBig experience + human scale

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2014: Wembley Park Boulevard


Revitalised Wembley Park

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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

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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

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Stadium Arena 4* Hotel

London Designer Outlet

Wembley Park residential

Brent Civic Centre

Exceptional footfall New green space

Vibrant entertainment

Wembley Park

Documents

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