Funding Joint Venture

RNS Number : 7752A

Inland Homes PLC

29 December 2014

 



29 December 2014

Inland Homes PLC

("Inland Homes" or the "Company")

Funding Joint Venture

Inland Homes is pleased to announce that it has entered into a joint venture agreement with Christian Candy's CPC Group Ltd ("CPC") to jointly fund the acquisition of brownfield sites with the potential for residential or mixed-use development (the "Joint Venture") across the South-East of England.

Under the terms of the Joint Venture, CPC will contribute 80%, and Inland Homes 20%, of capital to acquire suitable brownfield sites over an initial investment period of three years with the intention of obtaining planning permission and selling the sites to the open market.  Both CPC and Inland Homes have entered into an exclusive agreement to pool their origination efforts towards the sourcing of sites that meet the Joint Venture's investment criteria. Inland Homes will act as Operator to the Joint Venture, which will be jointly managed by CPC and Inland Homes.

New Amsterdam Capital Management Limited acted as the Adviser to Inland Homes on this transaction.

Stephen Wicks, CEO of Inland Homes, commented:  "Inland Homes is very pleased to be working with a group with excellent experience in land development within central London.  The joint venture provides further funding for Inland Homes and enables us to pursue a significantly greater number of opportunities to apply our strong experience in obtaining planning permissions for residentially-led schemes on brownfield sites within the South East of England to fulfil the great shortage in housing."

For further information, please contact:

Inland Homes plc	www.inlandplc.com	Tel: [phone]
Stephen Wicks	Chief Executive
Nishith Malde	Finance Director
Paul Brett	Land Director
finnCap	Nomad & Broker	Tel: [phone]
Matthew Robinson/Simon Hicks	Corporate Finance
Rhys Williams	Corporate Broking
Blytheweigh		Tel: [phone]
Tim Blythe / Alex Shilov		Tel: [phone]/   07989 394027

 

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