ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

INL Inland Homes Plc

8.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Inland Homes Plc LSE:INL London Ordinary Share GB00B1TR0310 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 8.50 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Inland Homes PLC INLAND HOMES AGREES LAND SALE TO CREST NICHOLSON (3146S)

25/06/2018 7:00am

UK Regulatory


Inland Homes (LSE:INL)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Inland Homes Charts.

TIDMINL

RNS Number : 3146S

Inland Homes PLC

25 June 2018

25 June 2018

Inland Homes plc

INLAND HOMES AGREES LAND SALE TO CREST NICHOLSON AND SECURES PRE-LET TO PREMIER INN FOR BOURNEMOUTH HOTEL DEVELOPMENT

Inland Homes plc (AIM: INL) ("Inland" or the "Group"), the specialist brownfield land developer and housebuilder with a focus on the south and south east of England, announces that it has completed the sale of phase two of its prime waterside Sherborne Wharf project in Birmingham, to Crest Nicholson, for GBP4.34 million.

Acquired during the 2016 financial year, Inland subsequently secured consent for a total of 233 residential units, comprising the first two phases of the development. Crest Nicholson has acquired a 1.0 acre site, with detailed planning for the development of 87 residential units. The sale is the second at the site following the sale of phase one of the project, comprising 146 consented units, also to Crest Nicholson, in December 2017.

In a second transaction, Inland has agreed a pre-let to Premier Inn for a 46,000 sq ft, 107-room hotel development in Bournemouth. Inland secured consent for the hotel and an additional 85 apartments in June last year. Situated on the site of the former Wessex Hotel in central Bournemouth, approximately half a mile from the city centre in the West Cliff area, Premier Inn has agreed a 25-year lease, with 5-year upward only reviews, at an agreed starting rent of GBP588k per annum.

Demolition of the old hotel is near completion, with construction of the basement car park for both the new hotel and residential apartments anticipated to commence in September.

Stephen Wicks, CEO of Inland Homes, commented:

"These are significant transactions that demonstrate both the market-leading expertise of our planning team, as well as the appeal and variety of schemes that sit within the Inland Homes portfolio. At Sherborne Wharf, we have taken what was a complex site and realised significant value through this sale to one of the UK's leading housebuilders.

"On the Wessex site in Bournemouth, we were pleased to have secured a pre-let to a strong covenant, which has delivered significant capital value uplift. Inland has a growing reputation as a highly experienced mixed-use developer and this project is a clear demonstration of these credentials."

-ENDS-

Enquires:

 
Inland Homes plc                    Tel: +44 (0) 1494 762 450 
Stephen Wicks, Chief Executive 
Nishith Malde, Finance Director 
 
Panmure Gordon (UK) Limited         Tel: +44 (0) 20 7886 2500 
 Nominated Adviser and Broker 
Dominic Morley (Corporate Finance) 
Erik Anderson (Corporate Broking) 
 
FTI Consulting                      Tel: +44 (0) 20 3727 1000 
Dido Laurimore 
Claire Turvey 
Richard Gotla 
Jeanne Provencher 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DISQLLFLVQFXBBE

(END) Dow Jones Newswires

June 25, 2018 02:00 ET (06:00 GMT)

1 Year Inland Homes Chart

1 Year Inland Homes Chart

1 Month Inland Homes Chart

1 Month Inland Homes Chart

Your Recent History

Delayed Upgrade Clock