12 Mar 2018 07:00
12 March 2018
Inland Homes Plc
Acquisition of Joint Venture Partner's interest in major site in Middlesex
Inland Homes plc (AIM: INL) ("Inland Homes", "the Group" or the "Company"), the leading brownfield regeneration specialist and housebuilder with a focus on the South and South East of England, announces the unconditional exchange of contracts to acquire its joint venture partner's 80% interest in Brooklands Helix Developments Limited ("BHDL"). Completion of the purchase is set for 29 March 2018, following which Inland Homes will own 100% of BHDL.
BHDL owns the former Brooklands College, a prime 10 acre site in the town centre of Ashford in Middlesex. The site has planning consent for 357 homes (including 32 affordable units) and 619 sq m of flexible commercial space with an estimated gross development value of £120 million. Preliminary works, including demolition and site clearance, have already commenced.
Stephen Wicks, Chief Executive commented:
"This is a major regeneration project and a fantastic site right in the heart of Ashford town centre, a highly sustainable location that is close to the station, providing access to London Waterloo in under 40 minutes. This new development will deliver new shops and homes, whilst opening up four acres of public open space which Inland will use to establish a new vibrant community in this growing commuter town."
Ends
Enquires:
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Inland Homes plc Stephen Wicks, Chief Executive | Tel: +44 (0) 1494 762450 |
Nishith Malde, Finance Director
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Stifel Nicolaus Europe Limited (Nominated Adviser): | Tel: +44 (0) 20 7710 7600 |
David Arch
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FTI Consulting: | Tel: +44 (0)20 3727 1000 |
Dido Laurimore | |
Claire Turvey Richard Gotla | |
Methuselah Tanyanyiwa |