Quintain set to raise £2bn for property fund

PROPERTY investor Quintain said it has made progress towards creating a new income-generating fund yesterday, and is on target to meet this year’s £1.25bn funds under management goal.

The FTSE-listed firm’s plans to ramp up funds under management to £2bn by 2013 remain on track, and will focus on healthcare, student accommodation and science parks, Quintain said in a quarterly update,

Quintain said construction at its flagship Wembley City regeneration scheme next to the stadium is on schedule to open next year, including a Hilton Hotel, high-end flats and 660-bedroom student accommodation.

The firm also said its Greenwich Peninsula retail space was now 89 per cent let or under agreement,

Quintain shares lost 1.7 per cent to close at 43p yesterday.