Re Letting

Quintain Estates & Development PLC
28 November 2007


28 November 2007


               Quintain Estates and Development PLC ('Quintain')


     Quintain and Lend Lease achieve significant progress at Greenwich with
                         announcement of major pre-let


Quintain and Lend Lease have launched a major new business district at London's
Greenwich Peninsula with the announcement of a deal with Transport for London.

The agreement will see Transport for London take a 20 year lease on 135,000 sq
ft of space in the new Peninsula Central business district, overlooking The O2
and just one stop from Canary Wharf. Work will start on the Terry Farrell &
Partners-designed office before the end of the year, with Transport for London
taking occupation in 2009.

Transport for London will also secure an option on a further 60,000 sq ft of
space at Peninsula Central as part of the deal.

Peninsula Central is a 3.5 million sq ft business district at the heart of the
Greenwich Peninsula redevelopment and will sit alongside 10,000 new homes, 150
new shops and restaurants and 48 acres of open green space - all just 20 minutes
from the West End.

The site of the new Transport for London office, which will also include a
second 110,000 sq ft building for commercial and retail lettings, will be
developed by Lend Lease and Quintain. The two companies will establish a new 
50:50 joint venture for the acquisition and development of the site, and each 
will invest a maximum of £60 million. Quintain will meet this commitment 
through a combination of debt and equity.

Nick Shattock, deputy chief executive of Quintain, said: 'To have launched a new
major commercial centre for London with such a significant letting to a
regulatory authority, with the potential for several satellite businesses, is a
remarkable coup. We are convinced that our ambition and willingness to deliver
the Mayor's climate change policy with cutting edge technology was key to this
major re-location.'

Nigel Hugill, chairman of Lend Lease Europe, said: 'This new commercial district
marks another exciting evolution in the London workplace. Peninsula Central
occupies a strategic position, offering new and flexible space close to Canary
Wharf and within a stone's throw of the City and West End. We are delighted that
Transport for London has recognised its potential and are confident that other
high-profile tenants will follow.'

Charles Stafford, Transport for London Director of Group Property and
Facilities, said: 'Transport for London is delighted to be one of the first
tenants in this significant regenerative development. This move is a key part of
our business strategy to improve the overall quality and productivity of the
workspace we provide for our staff, yet also achieve significant efficiencies,
in this case obtaining top quality office accommodation at an excellent
location, giving us true value for money.'

John Walker, Chief Executive of English Partnerships, said: 'As the principal
land owner we are pleased to see the mix of development on the Greenwich
Peninsula extending beyond housing. Transport for London will be providing a
significant number of jobs and the balance of the letting will help secure a
true mixed use development.'

International property consultancy Jones Lang LaSalle is the appointed adviser
on office space at Greenwich Peninsula. TfL is advised by Drivers Jonas.


For images and further information, contact:

Quintain Estates and Development
Nick Shattock/Rebecca Worthington
Tel: [phone]

Financial Dynamics
Stephanie Highett/Dido Laurimore/Laurence Jones
Tel: [phone]



Editors' Notes

About Greenwich Peninsula

The £5 billion regeneration of 190 acres of Greenwich Peninsula led by Lend
Lease and Quintain Estates and Development PLC working with English
Partnerships, will create a thriving new riverside community for London over the
next 15 years.

  • 10,000 new homes in distinct residential neighbourhoods
  • 24,000 permanent jobs
  • Peninsula Central  - a new business district for London
  • 150 new shops and restaurants
  • 1.6 miles of river frontage; the distance between Waterloo and London
    Bridge
  • 48 acres of open spaces and parks; the size of Green Park
  • Extensive new community and leisure facilities
  • The O2 entertainment destination delivered and operated by AEG Europe
  • Excellent transport links, situated in zone 2 on the jubilee line
  • Aspiration for the highest environmental standards for new buildings.


For further information please visit www.greenwichpeninsula.co.uk


About Lend Lease

Lend Lease, listed on the Australian Stock Exchange, is a leading real estate
specialist which creates and manages real estates assets around the world.  In
the UK its business is focussed primarily in the delivery of large scale mixed
use schemes which lead to the regeneration of major urban sites.
www.lendlease.com


About Quintain Estates and Development PLC

Quintain is a leading property investment and development company specialising
in strategic property acquisition, redevelopment, asset management and
regeneration across the UK.  Quintain operates through three businesses - fund
management, property investment and urban regeneration.

Quintain is listed on the London Stock Exchange and is a FTSE 250 company.

www.quintain-estates.com



About English Partnerships

English Partnerships is the Government's national regeneration agency. Its aim
is to deliver high quality, sustainable growth in England. The Agency is
overseeing the regeneration of Greenwich Peninsula and has invested over £225
million in the last ten years.

English Partnerships and the Housing Corporation are working with the Department
for Communities and Local Government to establish the proposed Homes and
Communities Agency.

www.englishpartnerships.co.uk



                      This information is provided by RNS
            The company news service from the London Stock Exchange