By 2018, Quintain was on its second generation of BTR product. More lifts, more loading bays and wider corridors were duly incorporated, and a refined leasing/operator structure put into place.
The third generation has been rolling out since last year and, according to James, lessons have been learned.
‘We learned that most of the demand is from within the UK – not necessarily British citizens, but British residents – and that is different from built-for-sale flats, which often have international buyers in mind. That means we designed for a UK market,’ he says.
Today, Quintain does not have a presence in the UK BTR sector outside London. But that could change in the medium-term.
James is happy to speculate about expanding his business to the UK regions. But he is not rushing into development: the relatively small regional markets might struggle to digest the high volume of new apartments Quintain is designed to produce. When the moment comes to expand to the regions, Quintain are likely to debut via management agreements signed with other developers. With so much still to do at Wembley, this is unlikely to be before 2024-5.
OK, so patience may be required before a serious US-style multifamily developer is operating throughout the UK. But make no mistake: Quintain Living are heading in that direction and, when they arrive, will turn the local BTR world upside down.