INL.L Regulatory News (INL)

4 April 2017

Inland Homes plc

Inland Homes secures planning for 58 homes in Uxbridge

Contracts exchanged on the sale of 28 affordable homes

Inland Homes plc (AIM: INL) ("Inland Homes" or the "Company"), the leading brownfield regeneration specialist and housebuilder with a focus on the South and South East of England, has secured a resolution to grant planning permission at its site at the former Randalls department store in Uxbridge, Middlesex to develop 58 homes.

The development will involve the conversion of part of the listed building into eight apartments and the construction of an additional storey onto the building to accommodate six apartments, while the ground floor, comprising 8,000 sq ft, will be converted into a new retail unit. The approval also includes the conversion of the adjacent Old Fire Station building into three duplex apartments.

Inland Homes, which is highly experienced in the conversion of historic and listed buildings, is sensitive to the former department store's long history in Uxbridge, and the preservation of the high architectural value of the street elevation is central to the Company's plans for the site.

Contracts have also been exchanged for the sale of 28 affordable homes at Queensgate, Farnborough with a Registered Provider for £4.65 million, of which £1.57 million will be received in June 2017 for the land, and the balance transferred by the purchaser as construction progresses. These homes are part of the final phase on the site, where the Group recently secured a planning consent for 80 homes.

Stephen Wicks, Chief Executive of Inland Homes, commented:

"We have now secured planning permissions or resolutions to grant planning permission for the construction of over 1,250 homes in the first quarter of 2017, accelerating the momentum behind our delivery of much needed, high quality homes in the south and south east of England at accessible price points. It has been a strong start to the year and we will be continuing to grow our activities against the supportive market backdrop."

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