Land Update

RNS Number : 3736E

Inland PLC

06 April 2011

 



For immediate release

6 April 2011

Inland plc

('Inland' or the 'Company')

Land Update

Following the announcement on 30 March 2011, Inland PLC which specialises in buying brown field sites and enhances their value by obtaining planning permission before selling consented land onto developers, is pleased to confirm that planning consent for 65 homes at its site at Minet Drive, Hayes was received on 31 March 2011.  The sale of the site to Paradigm Housing Association has now been legally completed for £5m with s106 contributions of £567,000 resulting in a net sum of £4.43m.  Inland's associate company, Howarth Homes PLC will build the homes for Paradigm under a contract valued at £7.45m.

Inland plc
Stephen Wicks, Chief Executive	Tel:  [phone]
Nishith Malde, Finance Director	Tel:  [phone]
finnCap Nominated Adviser & Broker
Matthew Robinson (Corporate Finance)	Tel:  [phone]
Charlotte Stranner (Corporate Finance)	Tel:  [phone]
Buchanan Communications
Jeremy Garcia / Christian Goodbody	Tel:  [phone]

About Inland:

Inland identifies brownfield land in the South East of England with excellent potential for residential and mixed use development including commercial space.  Inland then enhances the land value by applying its expertise to obtain planning permission and subsequently sells the consented land onto house builders.  Inland's current portfolio consists of 8 sites with a total of 1,600 residential plots of which 1,195 are consented and 256,000 sq. ft of commercial space of which 156,000 sq. ft. is consented.  Inland's strategy is to secure larger sites alongside joint venture partners.  Land disposals are core to fund operations and realise the value of existing sites.  The Company also develops a small part of large sites and constructs the infrastructure so as to provide serviced sites to house builders and create an attractive environment.

 

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