17 Jan 2013 07:00
For immediate release
17 January 2013
brownfield regeneration specialists and housebuilders
Inland Homes plc
("INLAND" or the "Company")
Land update
The Board of Inland Homes plc is pleased to announce that a further deferred land consideration payment on the project at West Drayton has been made to the Defence Infrastructure Organisation.
In accordance with the Option and Development Services Agreement with Drayton Garden Village Limited, Inland's profit share from this project now increases to 69.77% as a result of this payment.
Under the agreement, the Inland Group has the potential to earn up to 90% of the profits realised from the sale of the property over the life of the project.
Enquiries: Inland Homes plc Stephen Wicks, Chief Executive Nishith Malde, Finance Director Paul Brett, Land Director Tel: 01494 762450 |
finnCap Nominated Adviser & Broker Corporate Finance: Matthew Robinson or Rose Herbert Corporate Broking: Simon Starr Tel: 020 7220 0500
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TooleyStreet Communications IR & media relations Fiona Tooley, Director Tel: 07785 703523 or Graeme Cull, Consultant Tel: 0121 309 0099 |
Editor's Note:
www.inlandplc.com
AIM: Ticker: INL
INLAND's corporate strategy is to acquire sites with development potential and, by applying its expertise and knowledge of the planning system, achieve the consents required to add-value to its land portfolio.
The Company's focus is currently to identify and acquire brownfield land in South of England where INLAND considers it to hold excellent potential for residential and mixed use development including commercial space. The Company then seeks to enhance its land value by obtaining planning permission before selling consented land onto developers. This process can take a few years, during which time INLAND continues selling sites where it receives attractive offers and also develops homes on certain sites for private sale.