Planning submitted at Cheshunt Lakeside

RNS Number : 1599J

Inland Homes PLC

28 March 2018

 

28 March 2018

Inland Homes plc

Inland Homes submits planning application for 1,853 homes and in excess of 18,000 sqm of commercial space at major 30-acre Cheshunt Lakeside regeneration project

-Transformational brownfield scheme includes former Tesco HQ in prime fringe London location -

Inland Homes plc (AIM: INL) ("Inland Homes", the "Group"), the leading brownfield regeneration specialist and housebuilder with a focus on the South and South East of England, announces that it has submitted an outline planning application at Cheshunt Lakeside in Broxbourne, Hertfordshire, for the delivery of up to 1,853 homes and in excess of 18,000 sqm of commercial, retail, community, leisure and education space.

As majority landowner of the 30-acre site, which has a Gross Development Value in the region of £650 million, it represents Inland Homes' largest and most ambitious project to date and one of the most significant underway in the South East / London fringes.

A key part of Broxbourne Borough Council's draft submission Local Plan, Inland Homes has driven the design and master planning of the site, to deliver new homes across a range of different sizes and tenures, as well as jobs, commercial and community space, supported by excellent local infrastructure and set in a landscaped park.

Ideally located just outside the M25 to the north of London, the site benefits from excellent transport links; it is just 27 minutes from Liverpool Street station by train and 51 minutes from the expanding technological and science hub of Cambridge. The arrival of Crossrail 2 in 2030 will further enhance the appeal of the development. Additionally Lee Valley Regional Park, a 10,000 acre, award-winning oasis of green space, lies adjacent to the development.

The outline application includes the delivery of a two-form primary school, community space and a number of infrastructure improvements, including a state of the art bus connection to Cheshunt Rail Station and new pedestrian, cycle, public transport and vehicular routes. The scheme is expected to provide up to 1,000 jobs on the completed site and a further 250 construction jobs.

Inland Homes acquired the original 13-acre site, which included Tesco's former HQ, by way of a 50/50 Joint Venture with a third party in July 2016 and has since assumed control of a number of additional parcels of land which form part of this application.

Stephen Wicks, CEO of Inland Homes, commented:

"This is a major milestone for Inland Homes, at what will be one of the South East's major regeneration schemes. By combining the expertise of our planning and remediation team with our rapidly growing in-house construction platform, we are in a unique position to be able to deliver a thriving residential and business community with the creation of thousands of new jobs and significant inward investment.

"The potential social and economic benefits of this scheme are huge, and at a time when the government is looking for solutions to solve the shortage of affordable housing, we are pleased to be able to work alongside the forward thinking Broxbourne Borough Council to deliver this scheme. Furthermore, for our shareholders, we expect Cheshunt Lakeside to be a strong driver of capital and income growth for the business for many years to come."

Enquiries:

Inland Homes plc:	Tel: [phone]
Stephen Wicks, Chief Executive
Nishith Malde, Finance Director
Paul Brett, Land Director
Panmure Gordon (UK) Limited:	Tel: [phone]
Dominic Morley
Erik Anderson
FTI Consulting:	Tel: [phone]
Dido Laurimore
Claire Turvey
Richard Gotla

 

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