Acquisition

Quintain Estates & Development PLC
01 October 2007

1 October 2007





       Quintain Estates and Development PLC ('Quintain' of the 'Company')


  QUINTAIN ACQUIRES RETAIL PARK IN STRATEGIC MOVE TO FURTHER CONSOLIDATE LAND
               OWNERSHIP AND DEVELOPMENT OPPORTUNITIES AT WEMBLEY


Quintain Estates and Development PLC is pleased to announce the exchange of
contracts for the acquisition of the 12.9 acre Wembley Retail Park (the 'Park')
from The Junction Ltd Partnership for a total consideration of £85m, which
Quintain will fund from its existing corporate facilities.


The acquisition of Wembley Retail Park extends Quintain's ownership at Wembley
to 85 acres. It also adds 162,002 sq ft of retail to the 37,400 sq ft at
Quintain's Stadium Retail Park (which is let to McDonalds, Lidl, Blockbuster,
Currys) and the Phase 1 consent for 587,000 sq ft of retail and 487,000 sq ft of
entertainment and leisure including 150,000 sq ft of designer outlet shopping.


The Park is in the process of being partially redeveloped following a planning
consent that enabled the creation of a new central car park. In addition, there
is 41,000 sq ft of vacant space, of which 7,000 sq ft is secured under agreement
for lease to Dreams, with a further 6,800 sq ft at Heads of Terms stage.


Wembley Retail Park is multi-let to occupiers, including Wickes, Halfords,
Comet, Land of Leather, Allied Carpets, Harveys and MFI. In total the site
produces an overall passing rent of c. £3.052m per annum, at an initial yield of
3.4% and a reversionary yield of 5.6% (ERV £5,017,413). Parking is provided for
440 cars, with the overall building area totalling 226,448 sq ft.


Apart from the major lettings, there are complementary uses such as office
suites, two restaurants and a building known as the POD, with a pre-let cafe and
which has the potential to house several small retail units. On the edge of the
retail scheme fronting Fulton Road are five industrial units and along Watkin
Road a further three industrial units, which together account for 45,245 sq ft.


Nick Shattock, Deputy Chief Executive of Quintain said:


'This acquisition allows us to create multiple active management opportunities
which, when considered with our other current retail holdings at Wembley, only
Quintain can exploit. The case for the purchase is compelling, in the light of
our current plans to submit a further masterplan application for Phase 2 of the
development on the 15 acre Palace of Arts and Industry site, which is identified
by Brent Council guidance as suitable for between 1.6m sq ft and 2.2m sq ft, and
which would be in addition to the existing 6.5m sq ft consent.


'We also have the opportunity to considerably raise the profile of the Park and
potentially take the industrial elements into mixed use or residential.'


                                     -ENDS-




For further information, please contact:


Quintain
Nick Shattock
Rebecca Worthington
Tel: [phone]

Financial Dynamics
Stephanie Highett
Dido Laurimore
Lauren Mills
Tel: [phone]



Notes to Editors

Quintain Estates and Development PLC is a leading property investment and
development company, listed on the London Stock Exchange.


Quintain has three areas of focus: Fund Management; Investment Portfolio; and
Special Projects, which consists of the Company's larger and typically complex
assets - such as Wembley - that gain returns from planning and development
opportunities.


Wembley

Quintain's current Wembley development involves the transformation of the 72
acres of land surrounding Wembley Stadium into a mixed-use development.
Transposed onto central London, this regeneration site would cover Trafalgar
Square, Leicester Square, Covent Garden, and all the land in between.


Planning consent has been granted for 6.2 million sq ft (576,000 sq m) of
residential, retail, commercial and leisure space on 59 acres, with potential
for up to a further 2 million sq ft on an adjoining 13 acres, totalling almost
8.5 million sq ft (789,600 sq m). The result will be the creation of an urban
environment that will dramatically enhance the experience of those visiting the
National Stadium and the world famous Wembley Arena.


Masterplanned by Lord Rogers, the £2.3 billion development will create
approximately 7,000 new jobs and 4,200 new homes.


In addition to Wembley, Quintain is involved in a variety of projects across the
UK, including the regeneration of the 190-acre (8,276,400 sq ft / 769,182 sq m)
Greenwich Peninsula site, a 900,000 sq ft (83,600 sq m) zero-carbon development
at Middlehaven under the Bioregional Quintain brand, and a 1 million sq ft
(92,900 sq m) mixed use development at City Park Gate, Birmingham.




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