INL.L Regulatory News (INL)

30 October 2014

Inland Homes PLC

('Inland Homes', 'Inland' or the 'Group')

Land Update

 Inland selected as Development partner for Southampton site with GDV in excess of £70 million

Inland Homes, the specialist housebuilder and brownfield land developer, today announces that it has been selected by Southampton City Council ('the Council') as its development partner and expects shortly to conclude a Development Services Agreement ('DSA') with the Council to transform a brownfield, riverside site into a mixed use development.

The agreement with the Council is for the Chapel Riverside site, an 8.9 acre site owned by the Council with a gross development value in excess of £70 million. Inland intends to seek planning permission for a mixed use development consisting of approximately 6,500m2 of commercial space and approximately 350 residential homes and flats, in addition to a new public park and an extension of the existing riverside walkway. It is anticipated that a planning application will be submitted in the second half of 2015.

Commenting, Stephen Wicks, CEO, Inland Homes, said:

 "The Chapel Riverside site will be the second site Inland has in Southampton, following the acquisition of the seven acre site that is the home of the former Meridian television studios in May of this year, and we look forward to working alongside Southampton City Council to deliver a second key generation project for the city.

"Our land bank continues to grow, the expansion of our housebuilding activity is delivering results and we continue to look to the future with great confidence."

ENDS

Notes to Editors:

Inland Homes identifies 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 houses for private sale or selling consented land onto other developers.