INL.L Regulatory News (INL)

Inland Homes PLC

('Inland Homes' or the 'Group')

Land Update

Judicial Review of sale by MoD of Wilton Park, Beaconsfield Withdrawn

The Board of Inland Homes is pleased to announce that the Judicial Review of the Ministry of Defence's ('MoD') decision to sell the Wilton Park, Beaconsfield site has been withdrawn. 

Inland Homes owns the preferred access to this site which has been allocated for development in South Buckinghamshire District Council's Local Plan for in excess of 300 new homes.

As previously announced, Wilton Park Developments Limited ('WPDL'), a company controlled by funding partners of Inland Homes, purchased the Wilton Park site from the Defence Infrastructure Organisation, part of the MoD.

The Group has agreed heads of terms with WPDL for the development of Wilton Park and the Board expects to conclude this agreement with in the near future. 

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

"The progress in connection with the planning process for Wilton Park, Beaconsfield has been frustrated by the Judicial Review in respect of the sale by the MoD. The withdrawal of this challenge now paves the way for Inland Homes to complete the formalities on the arrangements with its financial partners and more importantly progress its work with South Bucks County Council to obtain planning permission for in excess of 300 homes on this site.

"This site is one of the best in the south east of England and we look forward to maximising the potential of this opportunity for our shareholders over the next few years." 

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.