Inland PLC
25 October 2007
For immediate release 25 October 2007
Inland plc
('Inland' the 'Company')
Farnborough Secures Full Planning Permission
&
Additional 38 Units in North London Receive Planning Permission
Inland, which specialises in buying 'brownfield' sites and enhancing their value
by obtaining planning permission, is pleased to announce that three additional
sites held within the Company's portfolio have now gained full planning
permission.
The 24.5 acre site in Farnborough, Hampshire has now received detailed planning
approval for the construction of 399 new residential plots consisting of 262
apartments and 137 houses, following on from the announcement made of 11 October
when a Resolution to grant planning permission was granted. The site will also
include over 100,000 sq ft. of commercial space.
In addition, Inland has also received notification that two smaller schemes in
North London (Borehamwood and Hatfield) have received full planning permission
for a combined total of 38 residential units.
A decision has not yet been taken by Inland whether to dispose of these sites or
to continue to hold them as part of the strategy to develop the Group's
long-term land bank.
Stephen Wicks the Inland CEO commented:
'Today's announcement on Farnborough is great news for Inland and our
shareholders. By obtaining full planning permission in under 14 months we
believe our team has added significant value to this asset.'
'We are also delighted to have secured planning permission on our Borehamwood
and Hatfield developments. Whilst significantly smaller than Farnborough, they
are located in traditional residential areas where demand for land is at a
premium. We expect returns on these sites to far exceed our original
expectations.'
For further information please contact:
Inland Plc Tel: 01923 713 600
Stephen Wicks, Chief Executive
Nish Malde, Finance Director
Buchanan Communications Tel: 020 7466 5000
Jeremy Garcia / Susanna Gale
About Inland plc
Inland plc is a dynamic developer of urban regeneration projects around Southern
England. Predominantly specialising in Brownfield developments, the Inland team
can provide solutions to a variety of difficult and sensitive land situations.
Inland successfully navigates the complex planning system, applying meticulous
attention to detail throughout the design process whilst utilising its close
working relationships with local authorities. Our ability to secure sites often
overlooked by others, means our track record in the development of Brownfield
opportunities is second to none.
Dawnay, Day Corporate Finance Limited is the Nominated Adviser. David Floyd and
Alex Stanbury can be contacted on 020 7509 4570.
This information is provided by RNS
The company news service from the London Stock Exchange
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