RNS Number : 7088V
Inland Homes PLC
30 October 2014
 



30 October 2014

Inland Homes PLC

 

('Inland Homes', 'Inland' or the 'Group')

 

Land Update

 

 Inland selected as Development partner for Southampton site
 with GDV in excess of £70 million

 

Inland Homes, the specialist housebuilder and brownfield land developer, today announces that it has been selected by Southampton City Council ('the Council') as its development partner and expects shortly to conclude a Development Services Agreement ('DSA') with the Council to transform a brownfield, riverside site into a mixed use development.

 

The agreement with the Council is for the Chapel Riverside site, an 8.9 acre site owned by the Council with a gross development value in excess of £70 million.  Inland intends to seek planning permission for a mixed use development consisting of approximately 6,500m2 of commercial space and approximately 350 residential homes and flats, in addition to a new public park and an extension of the existing riverside walkway. It is anticipated that a planning application will be submitted in the second half of 2015.

 

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

 "The Chapel Riverside site will be the second site Inland has in Southampton, following the acquisition of the seven acre site that is the home of the former Meridian television studios in May of this year, and we look forward to working alongside Southampton City Council to deliver a second key generation project for the city.

"Our land bank continues to grow, the expansion of our housebuilding activity is delivering results and we continue to look to the future with great confidence."

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

Eleanor Parry: 07551 293620

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.


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCKMMFGGGLGDZM