Quintain in asset sell-off

Quintain Estates & Development Plc has sold St David’s House, a six-storey commercial and retail centre in Cardiff, for £9.3 million, generating profits of £4 million.


Quintain Estates & Development Plc has sold St David’s House, a six-storey commercial and retail centre in Cardiff, for £9.3 million, generating profits of £4 million.

Quintain Estates & Development Plc has sold St David’s House, a six-storey commercial and retail centre in Cardiff, for £9.3 million, generating profits of £4 million.

The company has also agreed the sale of Viking and Saxon House in Hemel Hempstead for £1.48 million, delivering a profit of £1 million. Completion of this sale will increase the total cash transferred back to core operations to £95.5 million.

The disposals are in line with the company’s strategy to generate proceeds of £100 million this year. Quintain’s finance director, Rebecca Worthington, commented: “The combination of these latest disposals, the progress being made in reducing costs and the flexible new gearing agreement announced last week materially increases the headroom available to Quintain in its relationship banking facilities.”

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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