INL.L Share News (INL)

(Sharecast News) - Housebuilder Inland Homes has exchanged contracts on a major residential development site in East London.Inland anticipates the four-acre brownfield site in Dagenham, where construction will begin in March 2019, to have a gross development value of roughly £95m.The AIM-listed firm's new site was previously part of the former Ford manufacturing plant and lies within the London Riverside Opportunity Area, a 3,000-hectare major regeneration zone designated in the London Plan to deliver up to 26,500 homes and create 16,000 jobs across the boroughs of Barking and Dagenham.Chief executive Stephen Wicks, said: "This is a significant acquisition for Inland Homes of a prime development opportunity in East London.""The proposed joint venture with a major housing association will provide Inland Partnerships with a significant new build contract opportunity, adding to our existing forward order book of nearly £100m."As of 0905 GMT, Inland shares had slipped 0.098% to 51.15p.