RNS Number : 0542U
Inland Homes PLC
13 October 2014
 



Inland Homes PLC

 

('Inland Homes' or the 'Group')

 

Land Update

 

Judicial Review of sale by MoD of Wilton Park, Beaconsfield Withdrawn

 

The Board of Inland Homes is pleased to announce that the Judicial Review of the Ministry of Defence's ('MoD') decision to sell the Wilton Park, Beaconsfield site has been withdrawn. 

 

Inland Homes owns the preferred access to this site which has been allocated for development in South Buckinghamshire District Council's Local Plan for in excess of 300 new homes.  

 

As previously announced, Wilton Park Developments Limited  ('WPDL'), a company controlled by funding partners of Inland Homes, purchased the Wilton Park site from the Defence Infrastructure Organisation, part of the MoD.

 

The Group has agreed heads of terms with WPDL for the development of Wilton Park and the Board expects to conclude this agreement with in the near future. 

 

 

Commenting, Stephen Wicks, CEO, Inland Homes, said:

 

"The progress in connection with the planning process for Wilton Park, Beaconsfield has been frustrated by the Judicial Review in respect of the sale by the MoD.  The withdrawal of this challenge now paves the way for Inland Homes to complete the formalities on the arrangements with its financial partners and more importantly progress its work with South Bucks County Council to obtain planning permission for in excess of 300 homes on this site.

 

"This site is one of the best in the south east of England and we look forward to maximising the potential of this opportunity for our shareholders over the next few years." 

 

ENDS

Enquiries:

www.inlandplc.com

AIM: Ticker: INL

 

Inland Homes plc

finnCap

Blytheweigh

Stephen Wicks, Chief Executive

Nominated Adviser & Broker

IR & Media Relations

Nishith Malde, Finance Director

Paul Brett, Land Director

 

Corporate Finance:

Matthew Robinson or

Simon Hicks

Paul Weigh: 07989 129658

Alex Shilov: 07989 394027

or

Tel: 44 (0) 1494 762450

Corporate Broking:

Rhys Williams

Tel: 44 (0) 20 7138 3204

 

Tel: 44 (0) 20 7220 0500

 

 

Notes to Editors:

Inland Homes identifies 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 houses for private sale or selling consented land onto other developers.

 


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