Inland Homes PLC Forward sale of 161 new homes at Carters Quay (5751R)
November 08 2021 - 1:00AM
UK Regulatory
TIDMINL
RNS Number : 5751R
Inland Homes PLC
08 November 2021
8 November 2021
Inland Homes plc
("Inland Homes" or the "Group")
Forward sale of 161 new homes at Carters Quay, Poole
Inland Homes plc, the brownfield developer, housebuilder and
regeneration specialist focused on the South and South East of
England, today announces that it has agreed to sell the final phase
of its Carters Quay development in Poole to Bournemouth,
Christchurch and Poole ("BCP") Council.
The Carters Quay development is an excellent example of Inland
Homes' business model and skill set in action - it acquired
brownfield land, formerly the Pilkington Tile Factory, and worked
with the local council on a long-term basis to regenerate an old
unused industrial site to create much needed new homes and
commercial space. To date, Inland Homes has completed three phases
of this development, which have provided 165 homes.
The last phase of the development will provide 161 new homes and
8,000 square feet of commercial space. The Group has received a
deposit, together with an advance payment of GBP8.25m, which will
provide a further reduction in the Group's borrowings. The contract
is for a total consideration of GBP43.5m over the next 36 months or
so, with monthly stage payments being made to Inland Homes as the
project progresses.
Inland Partnerships will construct the new homes on BCP's behalf
and transfer the land and buildings and recognize the income from
this phase when the project is complete. The site is ready for
construction and piling works are set to commence in April 2022.
Build completion is anticipated by the end of 2024.
Chief Executive Stephen Wicks commented:
"We are delighted to be working in partnership with BCP Council
to deliver the final 161 homes at Carters Quay. We have already
built a collaborative and productive relationship with BCP, who
shared our vision for the regeneration of Carters Quay from the
outset.
"The Group's partnership housing division is growing from
strength to strength with a forward order book now in excess of
GBP200m. Our partners recognise the Group's ability to add value
across all stages of the project and this latest contract is
testament to that."
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
Tim McCall
Galyna Kulachek
Bryn Woodward
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
("MAR").
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.
Environmental, Social and Governance credentials
Inland Homes is committed to ensuring its land, housebuilding
and partnership housing activities leave a positive lasting legacy.
As specialists in brownfield site regeneration the Group already
has a proud history of adding lasting value through its expertise
and experience in site remediation, which allows derelict and near
derelict land to be regenerated and used for the construction of
new homes.
Inland Homes takes its position as an industry leader extremely
seriously and has developed its Environmental, Social and
Governance (ESG) framework against the broader backdrop of an
escalating global climate issue. The Group's ESG framework, which
has been aligned to four of the UN Sustainable Development Goals,
sets out our high-level commitments. Using this framework, we are
now focused on developing a full ESG strategy. The strategy will
identify clear goals and metrics to enable us to measure and report
on our performance and success in this space.
For further information, please visit the Inland Homes website
at: www.inlandhomesplc.com
Hugg Homes - www.hugghomes.co.uk
Rosewood Housing - www.rosewoodhousing.co.uk
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