LONDON (Alliance News) - Inland Homes PLC Monday said that the Judicial Review of the UK Ministry of Defence's decision to sell its Wilton Park, Beaconsfield site has been withdrawn, a move that will allow it to move forward on getting planning permission to build homes on the site.
Inland Homes owns the preferred access to the site, which has been allocated for development in South Buckinghamshire District Council's plan for in excess of 300 new homes. Wilton Park Developments Ltd, a company controlled by funding partners of Inland Homes, bought the Wilton Park site from the MoD.
"The group has agreed heads of terms with Wilton Park Developments Ltd for the development of Wilton Park and the board expects to conclude this agreement with in the near future," Inland Homes said Monday.
"The progress in connection with the planning process for Wilton Park, Beaconsfield has been frustrated by the Judicial Review in respect of the sale by the MoD. The withdrawal of this challenge now paves the way for Inland Homes to complete the formalities on the arrangements with its financial partners and more importantly progress its work with South Bucks County Council to obtain planning permission for in excess of 300 homes on this site," Chief executive Stephen Wicks added.
Inland Homes shares were down 2.1% at 46.00 pence Monday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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