Quintain Limited has established a subsidiary in Ireland with plans to develop more than 9,000 new homes and 600,000 sq. ft of commercial space. The newly incorporated business, known as Quintain Ireland, will be responsible for the residential development of over 460 acres of prime assets in Ireland at Adamstown, Clonburris, Portmarnock, and Cherrywood. All these sites are owned by affiliates of Lone Star Funds and will be managed directly by Quintain.
The business will launch with an experienced 12-person team focused solely on Ireland, jointly led by Eddie Byrne and Michael Hynes. The Quintain team in Ireland is expected to grow to over 25 next year and will manage a range of local construction partners. The Irish team will be fully integrated with the wider London-based team.
Quintain will be resourced to replicate in Ireland the parent company’s strong record of delivery in London. The existing Irish portfolio, covering over 460 acres, will make Quintain the third largest residential developer in the country. Adamstown can accommodate approximately 5,000 homes across 220 acres of land, with further land at the neighbouring Clonburris site, to build approximately 350 houses; the recently acquired Cherrywood site is 120 acres and has an expected capacity of 3,000 homes; and the 87 acres in Portmarnock has the potential for 1,000 homes. The company intends to utilise its extensive experience to deliver market leading developments on its existing portfolio with a strong appetite to expand its portfolio of future development projects.
The decision to expand into Ireland follows the increase in demand for housing, especially in the Greater Dublin area, as more people move to take advantage of the strong economy and job opportunities.
James Saunders, Chief Executive of Quintain Limited, said:
“Quintain has been actively looking at new opportunities to expand its business for some time and I am therefore extremely proud to announce our expansion into Ireland, with a huge commitment to take on the delivery of more than 9,000 homes across four sites spanning 460 acres in Greater Dublin.
We have an established team on the ground in Ireland led by Eddie Byrne and Michael Hynes, who have over 40 years’ experience in the Irish and international property market. When you mix this local expertise with Quintain’s track record in taking forward major mixed-use development schemes, I am confident we will turn these sites into exemplary new places.
Alongside our Irish business, we remain focussed on continuing to invest and build out our flagship Wembley Park development in London and have further appetite to secure more development opportunities in the UK and Ireland.”
Eddie Byrne, Joint Managing Partner of Quintain Ireland, said:
“We are excited to launch this new venture, with the potential to deliver more than 9,000 new homes in the Greater Dublin area, where there is a pressing need for increased housing supply. Quintain Ireland will combine the knowledge of our team on the ground with the wealth of expertise of our parent company in delivering major residential projects. In 2020 we expect to more than double the size of our team in Ireland and expand our development pipeline.”
Quintain is a vertically integrated developer, operator and owner of residential and mixed-use assets; best known for the ongoing transformation of Wembley Park in north London. The 85-acre site surrounding Wembley Stadium has become one of the largest urban regeneration projects in Europe with over £2bn invested to date and another £1bn expected by 2022. Quintain first acquired a stake at Wembley Park in 2002. The development is already home to 3,500 residents with another 3,100 homes currently under construction and the project is expected to be fully built out by 2027. Previously Quintain owned the Greenwich Peninsula redevelopment around the 02 Arena in South-East London obtaining planning permission to deliver 10,000 new homes.