9 Jun 2016 07:00
Inland Homes PLC
Re-financing arrangements
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9聽June 2016
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Inland Homes Plc, the Brownfield regeneration specialist and housebuilder has over recent years been going through a period of considerable expansion of its activities.
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路 Notable milestones include a significant increase in the Group's land bank which now stands at a record 5,672 plots.
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路 The expansion of its own housebuilding programme including the appointment of Gary Skinner as Managing Director and a move into "direct build".
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路 Adoption of the European Public Real Estate Association's performance measures ("EPRA") that indicated an uplift of 拢63m in the Group's net asset value at 31 December 2015.
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路 The formation of Inland Commercial Ltd where we are focused on creating income producing assets from our land bank as well as maximising our income stream from tenancies that are a "by product" of our Brownfield business. Our current annual rental income is at a record 拢2.3m per annum.
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路 The first partnership deal signed with a local authority at Chapel Riverside in Southampton (500 units) with others in the pipeline.
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Inland has historically funded the acquisition of its land purchases (including the prime 114 acre Wilton Park project in Beaconsfield) though a number of sources and at a range of interest rates. In view of the expansion of the Group and its growing stature in the sector, it is now considering a range of debt options and sources (including the retail bond market) for refinancing these liabilities at lower interest rates and / or improved terms and conditions.
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Enquiries:
Inland Homes PLC
Nishith Malde FCA Tel: 01494 762450
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Stifel Nicolaus Europe Limited (Nomad) Tel: 020 7710 7600
David Arch
Roger Clarke
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