Development update

RNS Number : 5790M

Inland PLC

26 May 2010

 



26 May 2010

Inland plc

('Inland' or the 'Company')

Drayton Garden Village development update

Inland plc (AIM: INL) which specialises in buying brownfield sites and enhances their value by obtaining planning permission, is pleased to announce that the Company has now achieved a 'resolution to grant planning permission' at its Drayton Garden Village development.

The planning committee at the London Borough of Hillingdon voted unanimously to approve the scheme for 773 homes and 55,000 sq ft of employment and community uses.

The scheme will now be referred to the Greater London Authority for final sanction, subject to this and the signing of a legal agreement with Hillingdon Borough the planning consent is expected to be issued within a few weeks.

Stephen Wicks, Chief Executive of Inland commented

"This resolution to grant consent on what is one of the largest brownfield regeneration projects in the Greater London area is testament to the high level of expertise of our team in dealing successfully with complex regeneration projects such as this.

The Inland team lead by our Land Director Paul Brett, working closely with planning consultants Rippon Development Services, have achieved a superb result for the Inland shareholders.  We believe West Drayton will be a highly successful and commercially rewarding project for the Company and one that will also hold tremendous benefits for the local community.

Enquiries:

Inland plc

Stephen Wicks, Chief Executive                                                        Tel:  [phone]

Nishith Malde, Finance Director                                                          Tel:  [phone]

FinnCap Nominated Adviser & Broker

Matthew Robinson (Corporate Finance)                                            Tel:  [phone]

Rhydian Bankes (Corporate Finance)                                                Tel:  [phone]

Buchanan Communications

Jeremy Garcia / Christian Goodbody                                                 Tel: [phone]

 

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