Inland Homes secures permissions for 206 homes

RNS Number : 3445F

Inland Homes PLC

17 May 2017

 

17 May 2017

Inland Homes plc

Inland Homes secures permissions for another 206 homes including first consent in the Midlands

Inland Homes plc (AIM: INL) ("Inland" or the "Company"), the leading brownfield regeneration specialist and housebuilder with a focus on the South and South East of England, has received a resolution to grant planning consent to develop 148 residential units at Sherborne Wharf, Birmingham, in the Company's first scheme in the Midlands.

Sherborne Wharf is a prime 2.4 acre site located to the west of Birmingham City in the West Midlands, adjacent to Birmingham Canal and approximately one mile west of Birmingham New Street station, providing access to London Euston in under 90 minutes. The site comprises three connected areas of land and Inland has secured planning permission for the development of 148 residential units, comprising 45 one bedroom and 103 two bedroom apartments. The site has an expected GDV of approximately £30 million.

Inland Homes has also received a resolution to grant planning consent for the development of 58 residential units, comprising 27 one bedroom and 31 two bedroom apartments, at Beaumont Works in St. Albans, a 1.4 acre site, located a 15 minute walk from St. Albans City train station, providing access to central London within 20 minutes. The site comprises a Grade II listed former commercial unit that will be converted for residential use, as well an element of new build and an extensive car park providing for 60 cars. The site has an expected GDV of approximately £21 million.

Paul Brett, Land Director at Inland Homes, commented:

"While the main focus of our business is on the commuter belt around London as well as other popular areas in the South of England such as Southampton, the strength of our understanding and specialist expertise in the planning system means that we are able to identify opportunities outside of our normal geographical remit, acquire sites and secure planning permission in order to deliver meaningful value for our shareholders.

"Inland Homes now has a strong pipeline of high quality, affordable and much needed homes, further underlining the strong position of the Company against the backdrop of the continuing housing shortage crisis."

Enquiries:

Inland Homes plc:	Tel: [phone]
Stephen Wicks, Chief Executive
Nishith Malde, Finance Director
Paul Brett, Land Director
Stifel Nicolaus Europe Limited (Nominated Adviser & Broker):	Tel: [phone]
David Arch
FTI Consulting (IR & Media Relations):	Tel: [phone]
Dido Laurimore
Claire Turvey
Richard Gotla Polly Warrack

 

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