Wembley Park developer wins €200m deal for Adamstown
Wembley Park developer Quintain has been appointed to lead the design, planning and development of a new €200m town centre for Adamstown, Co Dublin, that will include the building of 1,000 homes.
The UK-based property investment and development firm has been appointed by its parent company, US private equity giant Lone Star, which itself owns much of the remaining development land in the west Dublin suburb.
Lone Star and a number of others will finance the next phase of development, which will involve the creation of a new town centre around Adamstown Station.
Since 2016, total committed investment in the area has exceeded €125m, it is understood.
The new town centre project will be based on the existing Strategic Development Zone (SDZ) masterplan, comprising up to 1,000 new high-density residential units and a 15,000 sq m district centre, retail and childcare facilities, civic and pedestrian spaces, it is understood.
In total, the development will see up to 85,000 sq m developed with estimated construction costs amounting to approximately €200m.
"We're delighted with the opportunity to bring Quintain's unrivalled experience in creating a vibrant new urban quarter with an exciting combination of high-density residential units, shops, workspaces and community hubs to Adamstown," said Jason Margrave, executive director of development at Quintain.
The company is best known for its £3bn transformation of London's Wembley Park area - one of Europe's largest high-density regeneration projects - covering 85 acres around Wembley Stadium.
Adamstown was Dublin's first Strategic Development Zone, launched with much fanfare by then Taoiseach Bertie Ahern in 2004. But when the crash happened, much of the promised community and social infrastructure had not taken place.
Lone Star acquired the majority of development land in Adamstown in 2016 and recommenced investment in the area, with the construction of over 500 new housing units, sports facilities and a community centre.