Home At Wembley Stadium?

London real estate is apparently so scarce that developers are getting creative in finding new places to squeeze in homes, namely 5,000 of them in the land surrounding Wembley Stadium.

Photo: facebook.com/WembleyStadium

Private equity firm Lone Star Funds raised its buying price for real estate company Quintain Estates following pressure from an activist hedge fund, according to the Wall Street Journal.

Quintain owns the land around Wembley Stadium. According to the WSJ, Lone Star will use its deep pockets to speed up Quintain’s building plans in London, where the average house price as of July stood at £525,000.

Quintain plans to build 5,000 homes over the next 10 years.