TIDMINL

RNS Number : 7822L

Inland Homes PLC

15 January 2021

15 January 2021

Inland Homes plc

("Inland Homes", "Group" or "Company")

Hillingdon Gardens site update

Inland Homes plc, the leading brownfield developer, housebuilder and partnership housing company with a focus on the South and South East of England, is pleased to confirm that the planning application for Hillingdon Gardens at the former Master Brewer site will not be called in by the Secretary of State for Housing, Communities and Local Government.

The site has been the subject of third-party requests to call in for determination by the Secretary of State but it has been decided that the application for 514 homes can be determined at a local level by the Greater London Authority. The site was approved by the Mayor of London in September 2020 and will now be subject to signing of a Section 106 agreement.

The plans for Hillingdon Gardens will transform a derelict former commercial site, creating a residentially led, mixed-use neighbourhood, with a network of pedestrianised areas, landscaped public squares and extensive green spaces. The project will deliver 182 (35%) new genuinely affordable homes alongside significant contributions towards local infrastructure improvements and biodiversity.

The Hillingdon Gardens scheme is part of Inland Home's asset management division. This is a high-growth arm of the Group and generates substantial service revenues with significantly reduced investment and capital consumption. The Group secures sites on behalf of investors and uses its extensive land and planning expertise to secure planning approval on their behalf. As 'capital light' activities, these schemes can generate attractive returns.

The Group is currently managing six asset management projects on behalf of investors, which combined have the potential for 3,181 homes.

Stephen Wicks, CEO of Inland Homes, commented:

"The former Master Brewers site is a brownfield site that has been vacant for 11 years and is exactly the type of scheme where we can make a meaningful contribution to housing delivery in a sustainable way.

"We are pleased that the scheme has not been called in by the Secretary of State. We can now actively progress delivering the scheme, which is supportive of the Government's housebuilding agenda, delivering much needed affordable homes and revitalising a vacant site.

"The Hillingdon Gardens site is part of our asset management division, where we are seeing increasing demand for our experience and skill in navigating the planning system. This will be an area of primary focus in the coming year and we are excited about the opportunities in this growing area of the business."

Enquiries

 
 Inland Homes                       +44 (0) 1494 762450 
 Stephen Wicks, Chief Executive 
 Nishith Malde, Finance Director 
 Gary Skinner, Managing Director 
 
 Panmure Gordon (UK) Limited        +44 (0) 20 7886 2500 
 Dominic Morley 
 Erik Anderson 
 
 Instinctif Partners                +44 (0) 20 7457 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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDFZGMMZDKGMZZ

(END) Dow Jones Newswires

January 15, 2021 02:00 ET (07:00 GMT)

Inland Homes (LSE:INL)
Historical Stock Chart
From Sep 2021 to Oct 2021 Click Here for more Inland Homes Charts.
Inland Homes (LSE:INL)
Historical Stock Chart
From Oct 2020 to Oct 2021 Click Here for more Inland Homes Charts.