Nationwide completes Wembley Stadium Retail Park deal

14 June 2011

Written by Simon Whittaker

Nationwide Building Society's commercial mortgages division has completed a deal worth £9.55 million, which will be used to purchase the 38,000 sq ft Stadium Retail Park located in Wembley City.

SeQuel, as part of a joint venture partnership involving other third-party investors and Quintain, will create a landmark leisure, retail and residential complex around the famous sports arena.

The location already contains shops including Currys, Lidl, JD Sports, McDonalds and Maplin.

"Nationwide has remained committed to supporting the commercial property sector," explained Bryce Glover, director of its commercial's division, adding that the current economic climate has not resulted in the company's involvement faltering.

He described this current scheme as a "fantastic new development".

Finance director at Quintain Rebecca Worthington asserted that the lender offers "a first class customer service" which "delivers on time".

She called this "the key to success of any deal".

Nationwide already has a loan book valued at more than £22 billion in the UK's commercial property market.

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