RNS Number : 7752A
Inland Homes PLC
29 December 2014
 



29 December 2014

 

Inland Homes PLC

("Inland Homes" or the "Company")

 

 

Funding Joint Venture

 

 

Inland Homes is pleased to announce that it has entered into a joint venture agreement with Christian Candy's CPC Group Ltd ("CPC") to jointly fund the acquisition of brownfield sites with the potential for residential or mixed-use development (the "Joint Venture") across the South-East of England.

 

Under the terms of the Joint Venture, CPC will contribute 80%, and Inland Homes 20%, of capital to acquire suitable brownfield sites over an initial investment period of three years with the intention of obtaining planning permission and selling the sites to the open market.  Both CPC and Inland Homes have entered into an exclusive agreement to pool their origination efforts towards the sourcing of sites that meet the Joint Venture's investment criteria. Inland Homes will act as Operator to the Joint Venture, which will be jointly managed by CPC and Inland Homes.

 

New Amsterdam Capital Management Limited acted as the Adviser to Inland Homes on this transaction.

 

Stephen Wicks, CEO of Inland Homes, commented:  "Inland Homes is very pleased to be working with a group with excellent experience in land development within central London.  The joint venture provides further funding for Inland Homes and enables us to pursue a significantly greater number of opportunities to apply our strong experience in obtaining planning permissions for residentially-led schemes on brownfield sites within the South East of England to fulfil the great shortage in housing."

 

 

For further information, please contact:

 

Inland Homes plc

www.inlandplc.com

Tel: 01494 762450

Stephen Wicks

Chief Executive


Nishith Malde

Finance Director


Paul Brett

Land Director








finnCap

Nomad & Broker

Tel: 020 7220 0500

Matthew Robinson/Simon Hicks

Corporate Finance


Rhys Williams

Corporate Broking








Blytheweigh


Tel: 020 7138 3204

Tim Blythe / Alex Shilov


Tel: 07816 924 626/   07989 394027




 


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