Planning Permission Update

RNS Number : 5761O

Inland PLC

01 July 2010

 



For Immediate Release

1 July 2010

Inland plc

('Inland' or the 'Company')

Further important planning milestone now achieved at Drayton Garden Village

Further to the announcement made on the 26^th May 2010 when the market was advised that the London Borough of Hillingdon had resolved to grant planning permission for 773 homes and 55,000 sq ft of commercial space subject to ratification by the Greater London Authority (GLA), we are now able to confirm that the GLA have today ratified the Hillingdon Borough decision and have confirmed they have no objections to our proposals.

The issue of the formal planning permission is now only subject to the signing of the legal agreements between Inland and Hillingdon Borough, the terms of which have already been agreed in principal between the parties.

A further announcement will be made when the planning permission has been released.

Stephen Wicks, Chief Executive of commented:

"The ratification by the GLA, whilst expected, is a huge step forward for this project.  When the planning permission is released on signing of the legal agreement it will enable Inland to commence the development later in the year.  We have strong interest in the land from both local and national house builders and anticipate early plot sales on this exciting project."

Enquiries:

Inland plc

Stephen Wicks, Chief Executive Nishith Malde, Finance Director	Tel:  [phone] Tel:  [phone]
FinnCap Nominated Adviser & Broker Matthew Robinson (Corporate Finance) Henrik Persson (Corporate Finance)	Tel:  [phone] Tel:  [phone]
Buchanan Communications Jeremy Garcia / Christian Goodbody	Tel:  [phone]

 

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