Quintain Estates & Development says its iQ portfolio has increased beds by 20 per cent and has achieved record reservations for the 2010/11 academic year.

Quintain has also achieved another operational milestone since 3 June 2010 with the sale of Pier Walk at Greenwich Peninsula for GBP97.1m, a six per cent premium to valuation.
 
A total of GBP3.5m was added to the group’s annualised income through new lettings, acquisitions and sponsorship deals completed since 1 April 2010.
 
A further GBP29m of new assets was acquired for Quercus, with GBP95m of further acquisitions being pursued.
 
Outline planning consent has been secured for 275 acre Emersons Green scheme in Bristol.

A total of 90 per cent of apartments at Wembley City have been sold, exchanged or let, while 94 per cent of apartments at OneBrighton have been sold or exchanged.

Adrian Wyatt, chief executive of Quintain, says: “In our June results announcement we set out a new three year business plan, including key operational milestones for the current financial year. Two months on, we are pleased to have delivered the first two of these nine milestones with the sale of Pier Walk at Greenwich and a 20 per cent expansion of our iQ portfolio. In addition, we have secured a material increase in the Group’s income, started to invest the equity that was raised at a five per cent premium to NAV by Quercus earlier this year and made further progress with the sale of our remaining residential properties.

“While the recovery in the property sector has yet to become widespread or gather momentum, our focus on the fulfilment of our strategy is unequivocal and we anticipate the delivery of further milestones before the end of the calendar year.”