INL.L Share News (INL)

(Sharecast News) - Brownfield developer and housebuilder Inland Homes has received a resolution to grant planning permission, subject to the signing of a Section 106 agreement, for 700 new homes and 25,000 square metres of commercial space at Gardiners Park Village in Basildon, it announced on Wednesday.
The AIM-traded firm said the planning application was submitted in conjunction with Homes England, which has a majority interest in the site, after it entered into a development agreement with Homes England in April last year.

Construction was expected to start in the autumn, following the signing of a Section 106 agreement within the current financial year and the subsequent release of the planning permission.

In total, around 220 of the 700 new homes on the 54-acre site would be designated as "affordable housing" for both rent and shared ownership.

Inland Homes said that in addition to the commercial space, the development would also provide a site for a new school and the provision for sporting facilities both on- and off-site.

The 54-acre site would have a gross development value of £200m, with the land to be acquired in phases over a five-year period.

"We are very pleased to have secured planning permission for the Gardiners Park Village site and to be working with Homes England to deliver much needed affordable homes," said chief executive officer Stephen Wicks.

"Acquiring and taking brownfield sites through the planning system for development lies at the heart of what we do.

"Inland Homes has once again demonstrated its skill and tenacity in being able to deliver planning on these complex sites in order to create sustainable communities and homes for the future."

At 1529 BST, shares in Inland Homes were up 0.33% at 60.2p.