Inland Homes PLC Update on major land sales (4932A)
September 30 2020 - 1:00AM
UK Regulatory
TIDMINL
RNS Number : 4932A
Inland Homes PLC
30 September 2020
30 September 2020
Inland Homes plc
("Inland Homes", "Group" or "Company")
Update on major land sales
Inland Homes ("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 confirm it has completed on the sale of two previously
announced major land sales:
Wilton Park, Beaconsfield, Buckinghamshire
The completion of the sale of 94 plots at its flagship
development site at Wilton Park in Beaconsfield to Bewley Homes
plc, a specialist in high quality developments in the South East.
As announced on 16 June 2020, the sale is part of phase one of the
project, which totals 147 units including 27% affordable
housing.
The consideration received represents a premium to the EPRA
valuation.
Cheshunt Lakeside, Hertfordshire
The completion of the sale, via the Group's j oint venture,
Cheshunt Lakeside Developments Limited, of 195 plots at Cheshunt
Lakeside, Hertfordshire project to a local housing association,
B3Living where Inland Partnerships has entered into a contract with
B3Living to construct 195 apartments in this Phase, in a deal worth
GBP34.5 million.
The proceeds from the two sites were used to repay over GBP25
million of borrowings.
Stephen Wicks, CEO of Inland Homes comments:
"The completion of these lucrative land deals in a difficult
economic environment, is testament to the high quality of Inland's
assets and has also enabled us to reduce borrowings."
Enquiries:
Inland Homes plc: Tel: +44 (0) 1494 762450
Stephen Wicks, Chief Executive
Nishith Malde, Finance Director
Gary Skinner, Managing Director
Panmure Gordon (UK) Limited Tel: +44 (0) 20 7886 2500
Dominic Morley
Erik Anderson
Instinctif Partners Tel: +44 (0) 20 7 457 2020
Mark Garraway
Rosie Driscoll
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 and
South East 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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END
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