Sweets Way evictor Guy Hands prepares bid for Quintain's private rental properties

Guy Hands

 The financial press reported over the weekend that private equity investor and tax exile Guy Hands is contemplating a £2.5bn bid for Quintain in a move to get into the privately rented sector.

Quintain's owner, Lone Star, is said to want to sell by early next month and other bids are expected. Hands' acquisition would be through his Terra Firma (registered in Guernsey) property arm Annington formed in 1996 to buy up 57,000 Ministry of Defence Homes.

Of interest to Quintain's Tipi privare rental clients is that recently the National Audit Office (NAO) LINK criticised the deal stating that the MOD had lost out on billions of pounds through the sale and will face further costs through substantial rent increases imposed by Hands' company when a rent freeze ends in 2021.

Nearer to home Hands' company Terra Firma was involved in evicting social tenants from Sweets Way, West Hendon. LINK   LINK

Hands made a big loss on EMI  LINK and his Four Seasons care homes  LINK is in difficulty.

Brent Council is now faced with establishing new partnerships with new owners of both Quintain and Wembley Stadium. It has a lot of eggs in one Wembley basket. They will certainly have to be sharp to keep up with Guy Hands and Shahid Kan!