22 May 2023 07:00
22 May 2023
Inland Homes plc
('Inland Homes' or the 'Group')
Planning Consent for 1,525 homes at Cavalry Barracks, Hounslow
Inland Homes plc (AIM: INL), the brownfield developer, housebuilder and partnership housing company with a focus on the South and South East of England, is delighted to announce that planning consent has been granted for a mixed-use development comprising 1,525 homes and approximately 2,700sqm of commercial space at Cavalry Barracks in West Hounslow.
The Cavalry Barracks project sits within the Group's asset management division. Projects within this division are managed on behalf of an external investor or investors, with fees accruing to the Group at set project milestones in return for its land and planning expertise and management of the project.
Located in an area of ongoing regeneration with high housing demand, this historical and strategically important site is one of the largest remaining brownfield sites in London at 36.7 acres. It also benefits from exceptional transport links to both central London and Heathrow airport.
The Cavalry Barracks is a unique opportunity in London to deliver much needed homes, 35% of which will be affordable homes to meet a range of needs. As part of approved plans 14 Grade II listed and 9 locally listed buildings will be retained and brought back to life, and 10.6 acres of open space provided, along with contributions to make significant improvements to Beaversfield Park and Hounslow West station.
With the consent granted, the Group is now supporting the external investors on the disposal strategy and delivery options for the site.
Nish Malde, Interim Chief Executive Officer at Inland Homes, commented:
"Cavalry Barracks, Hounslow is an exceptional site and we have worked closely with the London Borough of Hounslow to agree the terms of the Section 106 agreement and achieve this significant planning consent.
For a site of this historical significance and scale, this clearly demonstrates Inland Homes' success in working collaboratively with local Councils to secure planning consent on complex brownfield sites.
"With the consent granted, we look forward to supporting the external investors behind this impressive development and in that delivering regeneration and prosperity for Hounslow."
Enquiries
Inland Homes plc: Tel: 44 (0)1494 762450
Nishith Malde, Interim Chief Executive Officer
Panmure Gordon (UK) Limited Tel: 44 (0)20 7886 2500
Dominic Morley / James Sinclair-Ford (Corporate Advisory)
Tom Scrivens (Corporate Broking)
The information contained in this Announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (Regulation 596/2014), as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").
Notes to Editors:
Incorporated in the UK in 2005, Inland Homes plc is an AIM-listed specialist housebuilder and brownfield developer, dedicated to achieving excellence in sustainability and design.
Inland Homes acquires or manages 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 open market and affordable homes or selling surplus consented land to other developers to generate cash.
The Group is committed to extensive public and community consultation in order to ensure that, where possible, local community needs and objectives are met.
Inland's aim is to create sustainable communities and homes which set a benchmark for all future developments in the South and South East of England. The Group is always looking for brownfield sites without planning permission for future development.
Environmental, Social and Governance credentials
Inland Homes is committed to ensuring its land, housebuilding and partnership housing activities leave a positive lasting legacy. As specialists in brownfield site regeneration the Group already has a proud history of adding lasting value through its expertise and experience in site remediation, which allows derelict and near derelict land to be regenerated and used for the construction of new homes.
Inland Homes takes its position as an industry leader extremely seriously and has developed its Environmental, Social and Governance (ESG) framework against the broader backdrop of an escalating global climate issue. The Group's ESG framework, which has been aligned to four of the UN Sustainable Development Goals, sets out our high-level commitments. Using this framework, we are now focused on developing a full ESG strategy. The strategy will identify clear goals and metrics to enable us to measure and report on our performance and success in this space.
For further information, please visit the Inland Homes website at: www.inlandhomesplc.com
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