Quintain withdraws from financing BioRegional Quintain

11.11.2011

Quintain Estates has confirmed today that it intends to focus on its core development business in London and regrettably has to withdraw from financing BioRegional Quintain Ltd the company originally formed as a joint venture between Quintain Estates and BioRegional Properties. While this news is disappointing we would stress that it has no impact on the ongoing work of the charity.

BioRegional Development Group was instrumental in setting up the joint venture in 2005 and is extremely proud of its achievements. Its One Brighton development, completed in 2010 with Crest Nicholson, has set a new benchmark in environmental performance as well as achieving excellent sales.

Sue Riddlestone, BioRegional’s Chief Executive and co-founder said: “BioRegional Quintain has taken sustainable community development in the UK another huge step forward by building communities which enable residents to achieve truly sustainable or "one planet" living within the normal range of build costs. This is helping to transform the industry. In these difficult economic times, it is nonetheless very encouraging that Quintain will take the lessons from projects like One Brighton and embed sustainability into its mainstream business, and we look forward to continuing our relationship with the company. We will continue to work with the industry more widely to develop leading sustainability solutions and and we are actively pursuing opportunities to work with developers and investors in the UK and overseas."

Pete Halsall, Chief Executive of BioRegional Quintain said: “BioRegional Quintain has demonstrated the tremendous potential for sustainable development, especially with the 'One Brighton' project. The economic climate means that Quintain has to focus on its core portfolio right now but this kind of development, based on genuine sustainability, is absolutely still the future. I am going to focus on carrying on and indeed advancing much needed 'deep green' development.”

BioRegional Quintain Ltd was originally formed as a joint venture between Quintain Estates and BioRegional Properties (a limited company in which the charity, BioRegional Development Group, is a shareholder). Following a restructuring in 2010 the charity is a deferred shareholder in BioRegional Quintain Ltd, which in turn is a licencee of the BioRegional name owned by BioRegional Development Group.