Acquisition of interest in major site in Middx

RNS Number : 3367H

Inland Homes PLC

12 March 2018

 

12 March 2018

Inland Homes Plc

Acquisition of Joint Venture Partner's interest in major site in Middlesex

Inland Homes plc (AIM: INL) ("Inland Homes", "the Group" or the "Company"), the leading brownfield regeneration specialist and housebuilder with a focus on the South and South East of England, announces the unconditional exchange of contracts to acquire its joint venture partner's 80% interest in Brooklands Helix Developments Limited ("BHDL").  Completion of the purchase is set for 29 March 2018, following which Inland Homes will own 100% of BHDL.

BHDL owns the former Brooklands College, a prime 10 acre site in the town centre of Ashford in Middlesex.  The site has planning consent for 357 homes (including 32 affordable units) and 619 sq m of flexible commercial space with an estimated gross development value of £120 million.  Preliminary works, including demolition and site clearance, have already commenced.

Stephen Wicks, Chief Executive commented:

"This is a major regeneration project and a fantastic site right in the heart of Ashford town centre, a highly sustainable location that is close to the station, providing access to London Waterloo in under 40 minutes.  This new development will deliver new shops and homes, whilst opening up four acres of public open space which Inland will use to establish a new vibrant community in this growing commuter town."

Ends

Enquires:

Inland Homes plc Stephen Wicks, Chief Executive	Tel: [phone]
Nishith Malde, Finance Director
Stifel Nicolaus Europe Limited (Nominated Adviser):	Tel: [phone]
David Arch
FTI Consulting:	Tel: [phone]
Dido Laurimore
Claire Turvey Richard Gotla
Methuselah Tanyanyiwa

 

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