Land Update

RNS Number : 2596V

Inland Homes PLC

10 January 2012

 



For immediate release

10 January 2012

Inland Homes plc

('Inland' or the 'Company')

Land Update

Inland Homes PLC which specialises in buying brown field sites and enhances their value by obtaining planning permission before selling consented land onto developers, is pleased to announce that following exchange of contracts in July 2011, the Group has completed the purchase of the northern part of St John's Hospital in Chelmsford, Essex for £4.75m without recourse to any debt finance.  This is a 6.5 acre brownfield site which already benefits from a resolution to grant planning permission for a residentially led scheme.  However, Inland are seeking to improve the scheme and thereby enhance its value through a complete redesign. The Group has already undertaken extensive consultation with both the local authority and the public and expects to submit a detailed planning application for approximately 130 residential dwellings by the end of this month.

Inland Homes plc
Stephen Wicks, Chief Executive	Tel:  [phone]
Nishith Malde, Finance Director	Tel:  [phone]
finnCap Nominated Adviser & Broker
Matthew Robinson (Corporate Finance)	Tel:  [phone]
Rose Herbert (Corporate Finance)	Tel:  [phone]
Buchanan
Jeremy Garcia / Christian Goodbody	Tel:  [phone]

About Inland:

Inland identifies brownfield land in the South East of England with excellent potential for residential and mixed use development including commercial space.  Inland then enhances the land value by applying its expertise to obtain planning permission and subsequently sells the consented land onto house builders.  Inland's current portfolio consists of 10 sites with a total of 1,514 residential plots of which 1,021 are consented and 260,000 sq. ft of commercial space of which 152,000 sq. ft. is consented.  Inland's strategy is to secure large sites as principals or with joint venture partners.  Land disposals are core to fund operations and realise the value of existing sites.  The Company also develops a small part of large sites and constructs the infrastructure so as to provide serviced sites to house builders and create an attractive environment.

 

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