INL.L Regulatory News (INL)

17 January 2022

Inland Homes plc

("Inland Homes", "Group" or "Company")

Hillingdon Gardens site update

Inland Homes plc, the leading brownfield developer, housebuilder and partnership housing company with a focus on the South and South East of England, is pleased to announce that the application by the London Borough of Hillingdon (the Borough) to seek a judicial review of the Mayor of London's decision to approve plans for 514 homes at Hillingdon Gardens, Hillingdon has been quashed by the High Court.

The scheme was originally refused by the Borough as the local planning authority, then approved by the Greater London Authority (GLA) in September 2020. The Secretary of State then placed a 'holding order' on the project whilst a review was undertaken about whether it should be called in for determination. The holding order was released after six months and planning consent granted by the GLA in March 2021.

The dismissal of the judicial review challenge exhausts all options open to the Borough to prevent the development of this important brownfield site.

The plans for Hillingdon Gardens will transform a derelict former commercial site, creating a residentially led, mixed-use neighbourhood, with a network of pedestrianised areas, landscaped public squares and extensive green spaces. The project will deliver 182 (35%) new affordable homes alongside significant contributions towards local infrastructure improvements and biodiversity.

The Hillingdon Gardens scheme is part of Inland Homes' asset management division. This is a high-growth arm of the Group and generates substantial service revenues with significantly reduced investment and capital consumption. The Group secures sites on behalf of investors and uses its extensive land and planning expertise to secure planning approval on their behalf. As 'capital light' activities, these schemes can generate attractive returns.

The Group is currently managing six asset management projects on behalf of investors, which combined have the potential for nearly 3,300 homes.

Glynswood, High Wycombe, Buckinghamshire

The Company is also pleased to confirm that it has secured a resolution to grant consent for 50 homes at Glynswood, High Wycombe. The units are predominately houses. This is part of the Group's strategic land portfolio, where land is held via discount to market value options.

The Group expects to secure consent on a further four strategic sites in the course of this calendar year.

Stephen Wicks, CEO of Inland Homes, commented:

"The former Master Brewer site is a brownfield site that has been vacant for 11 years and is exactly the type of scheme where we can make a meaningful contribution to housing delivery in a sustainable way.

"We are very pleased that this scheme has cleared the final obstacle to its development. This consent has taken over three years to be validated and has been extremely difficult to achieve. It is very disappointing that it should be such a long and torturous process to develop on an allocated brownfield site in a highly sustainable location.

"It is a great testament to our legal and planning team that we have been able to overcome the many obstacles that were put in our way and we can now finally get on with the job of delivering much needed homes for London.

"The Hillingdon Gardens site is part of our asset management division, where we are seeing increasing demand for our experience and skill in navigating the planning system. This will be an area of primary focus in the coming year and we are excited about the opportunities in this growing area of the business."

Enquiries

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

Notes to Editors:

Incorporated in the UK in 2005, Inland Homes plc is an AIM-listed specialist housebuilder and brownfield developer, dedicated to achieving excellence in sustainability and design.

Inland Homes acquires brownfield land in the South and South East of England principally for residentially led development schemes. The business then enhances the land value by obtaining planning permission, before building open market and affordable homes or selling surplus consented land to other developers to generate cash.

The Company is committed to extensive public and community consultation in order to ensure that, where possible, local community needs and objectives are met.

Inland's aim is to create sustainable communities and homes which set a benchmark for all future developments in the South and South East of England. The Company is always looking for brownfield sites without planning permission for future development.

Environmental, Social and Governance credentials

Inland Homes is committed to ensuring its land, housebuilding and partnership housing activities leave a positive lasting legacy. As specialists in brownfield site regeneration the Group already has a proud history of adding lasting value through its expertise and experience in site remediation, which allows derelict and near derelict land to be regenerated and used for the construction of new homes.

Inland Homes takes its position as an industry leader extremely seriously and has developed its Environmental, Social and Governance (ESG) framework against the broader backdrop of an escalating global climate issue. The Group's ESG framework, which has been aligned to four of the UN Sustainable Development Goals, sets out our high-level commitments. Using this framework, we are now focused on developing a full ESG strategy. The strategy will identify clear goals and metrics to enable us to measure and report on our performance and success in this space.

For further information, please visit the Inland Homes website at: www.inlandhomesplc.com 

Hugg Homes - www.hugghomes.co.uk 

Rosewood Housing - www.rosewoodhousing.co.uk