Work has already started on the prominent brownfield site nextto the existing Merton Abbey Mills retail scheme to develop 283apartments for sale on the River Wandle. Occupation of the firstphase is scheduled for Summer 2004, with completion of thedevelopment by Summer 2006. The average selling price is expectedto be £250,000. ($420,000). In addition a132-bed hotel has beenpre-let to Scottish & Newcastle's Premier Lodge and a largehealth & fitness centre pre-let to Virgin Active. The schemewill also include two restaurants.

Quintain's Property Director Nick Shattock said: "This jointventure agreement is another opportunity for Quintain toregeneratea currently under-developed part of London. We aredelighted to be working in partnership with Countryside Properties,one of the UK's leading house builders, on what we believe willbecome a thriving mixed-use scheme which is already anchored bysome prestigious tenants."