Inland Homes PLC Acquisition of interest in major site in Middx (3367H)

TIDMINL

RNS Number : 3367H

Inland Homes PLC

12 March 2018

12 March 2018

Inland Homes Plc

Acquisition of Joint Venture Partner's interest in major site in Middlesex

Inland Homes plc (AIM: INL) ("Inland Homes", "the Group" or the "Company"), the leading brownfield regeneration specialist and housebuilder with a focus on the South and South East of England, announces the unconditional exchange of contracts to acquire its joint venture partner's 80% interest in Brooklands Helix Developments Limited ("BHDL"). Completion of the purchase is set for 29 March 2018, following which Inland Homes will own 100% of BHDL.

BHDL owns the former Brooklands College, a prime 10 acre site in the town centre of Ashford in Middlesex. The site has planning consent for 357 homes (including 32 affordable units) and 619 sq m of flexible commercial space with an estimated gross development value of GBP120 million. Preliminary works, including demolition and site clearance, have already commenced.

Stephen Wicks, Chief Executive commented:

"This is a major regeneration project and a fantastic site right in the heart of Ashford town centre, a highly sustainable location that is close to the station, providing access to London Waterloo in under 40 minutes. This new development will deliver new shops and homes, whilst opening up four acres of public open space which Inland will use to establish a new vibrant community in this growing commuter town."

Ends

Enquires:

 
 
 Inland Homes plc                            Tel: +44 (0) 
  Stephen Wicks, Chief Executive              1494 762450 
 Nishith Malde, Finance Director 
 
 Stifel Nicolaus Europe Limited (Nominated   Tel: +44 (0) 
  Adviser):                                   20 7710 7600 
 David Arch 
 
 FTI Consulting:                             Tel: +44 (0)20 
                                              3727 1000 
 Dido Laurimore 
 Claire Turvey 
  Richard Gotla 
 Methuselah Tanyanyiwa 
 

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March 12, 2018 03:00 ET (07:00 GMT)