TIDMINL

RNS Number : 5441X

Inland Homes PLC

05 May 2021

5 May 2021

Inland Homes plc

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

Major Planning Application Approved

Inland Homes plc, the brownfield developer and housebuilder focused on building residentially led developments for direct sale or on behalf of partner organisations, announces that it has received a resolution to grant planning permission, subject to the signing of a Section 106 agreement, for 700 new homes and 25,000sqm of commercial space at Gardiners Park Village, Basildon.

The planning application was submitted in conjunction with Homes England which has a majority interest in the site. The Company entered into a development agreement with Homes England in April 2020.

Construction is expected to commence this autumn, following the signing of a Section 106 agreement within the current financial year and subsequent release of the planning permission. In total, around 220 of the 700 new homes on the 54-acre site will be designated as affordable housing for both rent and shared ownership. In addition to the commercial space, the development will also provide a site for a new school and the provision of sporting facilities both on and off site.

The 54-acre site will have a gross development value in the order of GBP200m and the land will be acquired in phases over a five-year period.

Chief Executive Stephen Wicks commented:

"We are very pleased to have secured planning permission for the Gardiners Park Village site and to be working with Homes England to deliver much needed affordable homes.

"Acquiring and taking brownfield sites through the planning system for development lies at the heart of what we do. Inland Homes has once again demonstrated its skill and tenacity in being able to deliver planning on these complex sites in order to create sustainable communities and homes for the future."

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 7457 2020 
Mark Garraway 
Rosie Driscoll 
Galyna Kulachek

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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