Inland Homes PLC Major Planning Application Approved (4136D)
26 June 2019 - 4:00PM
UK Regulatory
TIDMINL
RNS Number : 4136D
Inland Homes PLC
26 June 2019
26 June 2019
Inland Homes plc
Major Planning Application Approved
Inland Homes (AIM: INL) ("Inland Homes", the "Group" or the
"Company"), the leading brownfield developer, housebuilder and
partnership housing company with a focus on the South and South
East of England, is pleased to announce that its planning
application at Cheshunt Lakeside, Hertfordshire has received a
resolution to grant planning permission subject to the signing of a
Section 106 agreement.
The masterplan will create a new "urban village" comprising
1,725 homes, 19,000 sqm of commercial space together with the
provision for a new primary school. Inland Homes, together with its
equal joint venture partner, owns and controls 1,253 residential
plots and 4,905 sqm of commercial and educational space within the
masterplan area with an estimated gross development value of
GBP620m. Inland Homes is the lead developer on the broader
masterplan, which it is working with the council to deliver.
A Section 106 planning agreement will be signed by the parties
as soon as possible which will release the planning permission
within the current financial period, ending 30 September 2019.
The planning approval at Cheshunt is a major milestone for the
business and in line with its strategy of acquiring quality land in
areas of high-demand, where Inland adds significant value by
securing planning permission and then seeks to generate value for
shareholders through a mix of selective in-house development and by
providing a turnkey solution for development partners.
The delivery of the first phase of this project, comprising 195
units as part of a reserved matters application, will be brought
forward at the earliest opportunity.
Stephen Wicks, Chief Executive, commented:
"I am delighted with the positive decision delivered by the
planning committee yesterday. Cheshunt Lakeside is the largest
planning approval obtained by Inland Homes since its incorporation
and a major milestone for the business.
"The development of what will become a new "urban village" will
sit in 8 acres of landscaped grounds, together with the creation of
a new Public Square, shops, cafes and offices close to Cheshunt
Station (25 minutes to Liverpool Street) and will create a superb
environment for residents and businesses alike."
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Enquiries:
Inland Homes plc: Tel: +44 (0) 1494 762450
Stephen Wicks, Chief Executive
Nishith Malde, Finance Director
Gary Skinner, Managing Director
Panmure Gordon (UK) Limited Tel: +44 (0) 20 7886 2500
Dominic Morley
Erik Anderson
Instinctif Partners Tel: +44 (0) 20 7 457 2020
Mark Garraway
James Gray
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 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 Company 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 Company is always looking for brownfield
sites without planning permission for future development.
For further information, please visit the Inland Homes website
at www.inlandhomes.co.uk.
Hugg Homes - www.hugghomes.co.uk
Rosewood Housing - www.rosewoodhousing.co.uk
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contact rns@lseg.com or visit www.rns.com.
END
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