30 Mar 2011 12:08
For Immediate release | 30 March 2011 |
Inland plc
('Inland' or the 'Company')
Land Update
Inland plc (AIM:INL), which specialises in buying brownfield sites and enhances their value by obtaining planning permission before selling consented land on to developers, is pleased to announce that it has received a resolution to grant a planning consent on its site at Minet Drive, Hayes for 65 homes.
An unconditional sale of this site has been agreed with a major housing association for a gross sum of approximately £5m and a building contract for our associate company, Howarth Homes PLC in excess of £7m.
Inland 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 7600 1658 |
Charlotte Stranner (Corporate Finance) | Tel: 020 7600 1658 |
Buchanan Communications | |
Jeremy Garcia / Christian Goodbody | 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 8 sites with a total of 1,600 residential plots of which 1,195 are consented and 256,000 sq. ft of commercial space of which 156,000 sq. ft. is consented. Inland's strategy is to secure larger sites alongside 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.