(Alliance News) - Inland Homes PLC on Wednesday said its planning application at Cheshunt Lakeside, Hertfordshire, has received a resolution to grant planning permission, subject to the signing of a Section 106 agreement.
The housebuilder said the Section 106 planning agreement will be signed by the parties "as soon as possible" and the delivery of the first phase of this project will be brought forward "at the earliest opportunity".
Inland Homes said it plans to create a new "urban village" comprising 1,725 homes, 19,000 square meters of commercial space, together with the provision for a new primary school. An estimated gross development value Stands at GBP620 million, the company said.
Inland Homes is the lead developer of the project, which it is working with the council to deliver.
"I am delighted with the positive decision delivered by the planning committee yesterday," said Chief Executive Stephen Wicks.
He added: "Cheshunt Lakeside is the largest planning approval obtained by Inland Homes since its incorporation and a major milestone for the business."
Inland Homes shares were trading 5.8% higher on Wednesday at 67.47 pence each in London.