2 Feb 2012 07:00
For immediate release | 2 February 2012 |
Inland Homes plc
('Inland' or the 'Company')
Land Update
Inland Homes plc which specialises in buying brownfield sites and enhances their value before selling consented land onto developers, is pleased to confirm that further to the announcement made on 13 December 2011, completion of the sale of an 80 bed nursing home site at Drayton Garden Village has now legally completed and the £1.8m proceeds have been received by Drayton Garden Village Ltd.
Stephen Wicks Chief Executive of Inland commented.
"I am delighted the sale of this plot has now completed. This is a substantial return for a relatively small part of the Drayton Garden Village site and demonstrates the ongoing demand for prime commercial land from within our portfolio."
Inland Homes plc | |
Stephen Wicks, Chief Executive | Tel: 01494 762450 |
Nishith Malde, Finance Director | Tel: 01494 762450 |
finnCap Nominated Adviser & Broker | |
Matthew Robinson (Corporate Finance) | Tel: 020 7220 0500 |
Rose Herbert (Corporate Finance) | Tel: 020 7220 0500 |
Buchanan | |
Jeremy Garcia | Tel: 020 7466 5000 |
About Inland:
Inland identifies brownfield land in the South East of England with excellent potential for residential and mixed use development including commercial space. Inland then enhances the land value by applying its expertise to obtain planning permission and subsequently sells the consented land onto house builders. Inland's current portfolio consists of 10 sites with a total of 1,514 residential plots of which 1,021 are consented and 260,000 sq. ft of commercial space of which 152,000 sq. ft. is consented. Inland's strategy is to secure large sites as principals or with joint venture partners. Land disposals are core to fund operations and realise the value of existing sites. The Company also develops a small part of large sites and constructs the infrastructure so as to provide serviced sites to house builders and create an attractive environment.