INL.L Share News (INL)

(Sharecast News) - Brownfield developer Inland Homes updated the market on a number of its projects on Wednesday, reporting that at the Wessex site on West Cliff Road in Bournemouth, the sale of a new 105-bed hotel pre-let to Premier Inn for £0.59m per annum had now been completed.
The AIM-traded firm said the sale of the investment was made to Aviva for £13.27m.

On the same site, Inland was currently building 94 apartments, of which 15 were sold with a further 16 under offer.

"Construction is due to complete in July this year," the board said.

At the former Master Brewer site in Hillingdon, west London, it said planning permission had been granted and issued for 514 homes, including 182 affordable homes.

On the former Homebase site at Walthamstow in east London, Inland said it had received a 'resolution to grant' planning permission from the London Borough of Waltham Forest for 583 homes, including 174 affordable homes.

"Planning permission will be issued on completion of a legal agreement," the directors explained.

Finally, at the Cavalry Barracks in Hounslow, west London, the company said it had submitted a planning application for 1,629 homes and 28,772 square feet of commercial space to the local authority.

That followed more than 12 months of consultation with local residents and the planning authority.

"At nearly 40 acres, this site is one of the largest brownfield sites remaining in London."

At 1532 BST, shares in Inland Homes were up 1.48% at 60.89p.