TIDMINL
RNS Number : 5486Y
Inland Homes PLC
17 January 2022
17 January 2022
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 announce that the application by the
London Borough of Hillingdon (the Borough) to seek a judicial
review of the Mayor of London's decision to approve plans for 514
homes at Hillingdon Gardens, Hillingdon has been quashed by the
High Court.
The scheme was originally refused by the Borough as the local
planning authority, then approved by the Greater London Authority
(GLA) in September 2020. The Secretary of State then placed a
'holding order' on the project whilst a review was undertaken about
whether it should be called in for determination. The holding order
was released after six months and planning consent granted by the
GLA in March 2021.
The dismissal of the judicial review challenge exhausts all
options open to the Borough to prevent the development of this
important brownfield site.
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 affordable homes alongside significant contributions
towards local infrastructure improvements and biodiversity.
The Hillingdon Gardens scheme is part of Inland Homes' 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 nearly
3,300 homes.
Glynswood, High Wycombe, Buckinghamshire
The Company is also pleased to confirm that it has secured a
resolution to grant consent for 50 homes at Glynswood, High
Wycombe. The units are predominately houses. This is part of the
Group's strategic land portfolio, where land is held via discount
to market value options.
The Group expects to secure consent on a further four strategic
sites in the course of this calendar year.
Stephen Wicks, CEO of Inland Homes, commented:
"The former Master Brewer 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 very pleased that this scheme has cleared the final
obstacle to its development. This consent has taken over three
years to be validated and has been extremely difficult to achieve.
It is very disappointing that it should be such a long and
torturous process to develop on an allocated brownfield site in a
highly sustainable location.
"It is a great testament to our legal and planning team that we
have been able to overcome the many obstacles that were put in our
way and we can now finally get on with the job of delivering much
needed homes for London.
"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 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
Tim McCall 2020
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
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
UPDFZGMMRDGGZZM
(END) Dow Jones Newswires
January 17, 2022 02:00 ET (07:00 GMT)
Inland Homes (LSE:INL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Inland Homes (LSE:INL)
Historical Stock Chart
From Apr 2023 to Apr 2024
