Inland Homes secures permissions for 1,200 homes

RNS Number : 1349A

Inland Homes PLC

22 March 2017

 

22 March 2017

Inland Homes plc

Inland Homes secures permissions for over 1,200 homes

-Land bank now includes 2,340 plots with planning consent-

Inland Homes plc (AIM: INL) ("Inland Homes" or the "Company"), the leading brownfield regeneration specialist and housebuilder with a focus on the South and South East of England, has secured planning permission to develop 239 residential units and 15,845 sq ft of commercial space at its Lily's Walk site in High Wycombe, representing a GDV of £75 million. Resolutions to grant planning consent have been secured for a further 992 residential units on sites in Buckinghamshire and Hampshire, including the major development at Chapel Riverside in Southampton.

Lily's Walk is a prime 3.5 acre site located in the centre of High Wycombe, directly opposite the Eden Shopping Centre, which is the largest shopping centre in the region, and a short walk from High Wycombe rail station which provides access to London Marylebone within 40 minutes. The site was the former National Grid gasworks and Inland Homes will be undertaking extensive remediation and specialist environmental works to bring the site to residential standard. The development will comprise 96 two-bed, 137 one-bed and six studio apartments, as well as 15,845 sq ft of commercial space, associated car parking facilities and additional public realm improvements.

Inland Homes has also received resolutions to grant planning permission across four further sites as follows:

·     In Southampton, Inland Homes plans to develop 457 residential units and 64,000 sq ft of commercial space in a joint venture with Southampton City Council.  The development is a challenging waterside brownfield regeneration site and is the Company's first major joint venture with a Local Authority.  The site has a GDV of approximately £100 million.

·     In Aylesbury, Inland Homes plans to develop 400 homes along with approximately 100,000 sq ft of commercial space and community amenities.

·     In Farnborough, Inland Homes has successfully re-planned the final phase of its Queensgate  site from 46,000 sq ft of commercial space to 80 residential homes.

·     In Chesham, Inland Homes intends to develop 55 residential units.

Paul Brett, Land Director at Inland Homes, commented:

"Altogether, these permissions represent a significant step forward for Inland Homes and mean that we now have a pipeline of 2,340 permitted plots. Securing these permissions is testament to our specialist expertise and the thorough work we undertake in bringing complex sites to a residential standard. Our understanding of the planning system and the strong relationships we have cultivated with local authorities in the region means we are ideally placed to further add to our development pipeline.

"Against the backdrop of the recent findings and recommendations published in the Government's housing White Paper, we are now on the way to providing well over 2,300 high quality and much needed homes in the South and South East."

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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