Inland PLC
11 July 2007
For immediate release 11 July 2007
Inland plc
('Inland' or the 'Company')
Third land sale since IPO generating return on
average capital employed of circ. 160% per annum
Inland, which specialises in buying brownfield sites and enhances their value by
obtaining planning permission, is pleased to announce that it has completed the
sale of its third site since it commenced trading on AIM in March 2007.
The site at Watford Road Northwood, Middlesex was first acquired in December
2006 and subsequently sold by informal tender with strong interest being shown
by a large number of local and regional housebuilders. The land which had
consent for 14 homes achieved a sale price which represented a return on
Inland's average capital employed of circ. 160% per annum.
Stephen Wicks Chief Executive of Inland commented
'The price achieved for this site was considerably above the value at the time
of our flotation and confirms the strong demand for land with planning
permission in the attractive locations in which we operate.'
'Inland now controls 18 sites in its land bank comprising approximately 1,000
potential residential plots and over 100,000 sq ft of commercial space. We
anticipate an increasing number of land sales in the new financial year as well
as the first major planning permissions coming through for the long term land
bank which we expect to hold for the future.'
For further information please contact:
Inland Plc Tel: 01923 713 600
Stephen Wicks, Chief Executive
Nishith Malde, Finance Director
Dawnay, Day Corporate Finance Limited, Nominated Adviser Tel: 020 7509 4570
David Floyd
Alex Stanbury
Buchanan Communications Tel: 020 7466 5000
Mark Edwards / 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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