Major acquisition for Investor Partner

RNS Number : 6688R

Inland Homes PLC

04 March 2019

 

4 March 2019

Inland Homes plc

Major acquisition for Investor Partner

Inland Homes (AIM: INL) ("Inland Homes", the "Group" or the "Company"), the leading brownfield developer, housebuilder and partnership housing company with a focus on the south and south east of England, is pleased to announce that it has facilitated the purchase of a high profile development site on behalf of  an investor with whom it has a long standing relationship.

The six acre site known as "Hillingdon Gateway" in the London Borough of Hillingdon is allocated for a major residentially led mixed use scheme which has the capacity for over 400 homes together with commercial space.

The site has a long planning history, including an approval in 2014 for a 3,500 sqm retail food store, a 70 bed hotel and 125 homes.  More recently it received a refusal for 435 residential units and some business space.

Inland will manage the planning process and the ultimate development on behalf of the investor for a management fee and a share of the development profits.

Stephen Wicks, Chief Executive, commented:

"This is a high profile opportunity next to Hillingdon station with fast access to London on the Metropolitan line.  It also adjoins the M40 and thus a highly sustainable location.  Although it has a long chequered planning history, Inland has an excellent track record in resolving planning issues and securing viable planning permissions and is confident in achieving it on this site, having already formulated a very focussed strategy to secure an early consent.  Once consent is secured, Inland expects to negotiate a major Partnership Housing opportunity with a Housing Association or a build to rent operator."

Enquiries:

Inland Homes plc:	Tel: [phone]
Stephen Wicks, Chief Executive
Nishith Malde, Finance Director
Gary Skinner, Managing Director
Panmure Gordon (UK) Limited	Tel: [phone]
Dominic Morley Erik Anderson
Instinctif Partners	Tel: [phone]
Mark Garraway James Gray

Notes to Editors:

Incorporated in the UK in 2005, Inland Homes plc is an AIM listed specialist housebuilder and brownfield developer, dedicated to achieving excellence in sustainability and design.

Inland Homes acquires brownfield land in the South and South-East of England principally for residentially led development schemes. The business then enhances the land value by obtaining planning permission, before building open market and affordable homes or selling surplus consented land to other developers to generate cash.

The Company is committed to extensive public and community consultation in order to ensure that, where possible, local community needs and objectives are met.

Inland's aim is to create sustainable communities and homes which set a benchmark for all future developments in the South of England. The Company is always looking for brownfield sites without planning permission for future development.

For further information, please visit the Inland Homes website at www.inlandhomes.co.uk.

Hugg Homes - www.hugghomes.co.uk

Rosewood Housing - www.rosewoodhousing.co.uk

 

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