Development Agreement with Homes England

RNS Number : 4670J

Inland Homes PLC

14 April 2020

 

14 April 2020

Inland Homes plc

("Inland Homes", "Group" or "Company")

Inland Homes enters into Development Agreement with Homes England

Inland Homes ("Inland Homes", "the Group" or "the Company"), the leading brownfield developer, housebuilder and partnership housing company with a focus on the south and south-east of England, is pleased to announce that it has entered into a development agreement with Homes England, a Government body charged with accelerating housing delivery in the UK.

The agreement, which is the culmination of a number of years work by the Group, allows for the development of over 600 homes, employment and community facilities currently owned by Homes England as well as a site for a new school in Basildon.

Inland Homes has paid an initial consideration of £100,000 on signing the agreement which is conditional on obtaining planning consent for the scheme, which already has a draft planning allocation for development. Under the agreement, Inland Homes will acquire land on a phased basis from Homes England once a viable planning consent has been secured. The 54 acre site will have a gross development value in the order of £200m.

The Group, in a separate joint venture, has already built and sold 43 homes on an adjacent project and is nearing completion of phase 2, comprising 33 homes, of which 85% are already sold.

Commenting on the agreement, Chief Executive Stephen Wicks said:

"This is an example of the tenacity of the Inland team in structuring complex transactions and delivering housing supply. The project involves the re-location of a number of sporting facilities to new locations within Basildon as well as major infrastructure works.

"We look forward to working alongside Homes England and submitting an early planning application for the comprehensive redevelopment of this important site."

Enquiries:

Inland Homes plc:	Tel: [phone]
Stephen Wicks, Chief Executive
Nishith Malde, Finance Director
Gary Skinner, Managing Director
Panmure Gordon (UK) Limited	Tel: [phone]
Dominic Morley
Erik Anderson
Instinctif Partners	Tel: [phone]
Mark Garraway	Tel: [phone]
James Gray	Tel: [phone]

Notes to Editors:

Incorporated in the UK in 2005, Inland Homes plc is an AIM listed specialist housebuilder and brownfield developer, dedicated to achieving excellence in sustainability and design.

Inland Homes acquires brownfield land in the South and South-East of England principally for residentially led development schemes. The business then enhances the land value by obtaining planning permission, before building open market and affordable homes or selling surplus consented land to other developers to generate cash.

The Company is committed to extensive public and community consultation in order to ensure that, where possible, local community needs and objectives are met.

Inland's aim is to create sustainable communities and homes which set a benchmark for all future developments in the South and South East of England. The Company is always looking for brownfield sites without planning permission for future development.

For further information, please visit the Inland Homes website at  www.inlandhomes.co.uk .

Hugg Homes -  www.hugghomes.co.uk

Rosewood Housing -  www.rosewoodhousing.co.uk

 

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