Inland Homes Share Discussion Threads

[mip55] 08/11/2019 20:01

ST target 95 - 100p

[mrnumpty] 08/11/2019 12:52

Yep , Simon Thompson of Investors' Chronicle is still positive about Inland Homes , rating the Company as a " strong buy " . The hard copy of IC landed on my doormat an hour ago , at about midday .

[manrobert] 08/11/2019 09:30

surprised no upward movement yet.

[manrobert] 08/11/2019 08:43

depends if they are tipped in i.c by simon

[spud] 08/11/2019 08:07

Can we crack 80p today I wonder!spud

[manrobert] 05/11/2019 16:30

yes indeed the buyers keep coming and should benefit when s,t,article appears in i.c.onfriday

[spud] 05/11/2019 16:00

A little shake & up we go...spud

[manrobert] 05/11/2019 09:55

marketmakers playing tricks again

[skinny] 04/11/2019 12:15

Post 3303 - no surprise then :-

[yump] 04/11/2019 12:10

That should test whether the news was in the price and whether 80p is actually a big barrier, regardless of what the brokers' targets are. Its that old question of whether, having looked at the chart and progress, whether people would buy at 80p I guess.

[bramcych] 04/11/2019 12:07

Just now tipped as Strong Buy by ST

[shanklin] 04/11/2019 07:27

Bit distracted yesterday so I was not comparing LFL. However if prefab made sense, the big house builders would be doing it at their own expense.

[techno20] 03/11/2019 15:40

Agree - the concept of MMC is fantastic, but as L&G have found out, it is massively costly to get right and even then the economics are problematic unless you are able to deliver significant volumes. Getting lenders to lend is also a big struggle. Unconvinced therefore that this is where public money should be spent personally.

[shanklin] 03/11/2019 12:14

Segment in this link starting...

“£30m prefab boost
Ministers are to plough £30m into a Yorkshire housebuilder to help its plans for a generation of eco-friendly prefab homes, writes Liam Kelly.”

Seems bizarre with INL already producing its containerised dwellings.

[manrobert] 30/10/2019 15:26

plenty of buys.got a feeling some big news is coming.

[scburbs] 29/10/2019 13:54

What they have bought for £29.9m and what they have sold for £28.5m are almost certainly not the same thing.

It looks like a financing transaction, probably akin to preferred equity with some additional upside but the JV partner will have 50% deadlock control/voting rights. The JV partner will presumably be getting a preferential lower risk return and INL will be getting the balance.

"beneficial arrangement that will enable Inland to receive the majority of the development profits from this site."

Looks like a good deal to me as they have some big projects in the pipeline and they need some equity/JV funding to help with this as if they just use debt they would be over leveraged. This means main choices are JVs or land disposals, so if they want to access development profits then its JVs.

If they can access JV equity, but keep the majority of the development profits then that has got to be a good deal (assuming project goes well of course).

[rthak] 29/10/2019 13:42

I'm a holder but didn't they acquire their joint venture partners stake for £29.9m and then sell it on again for £28.5m resulting in an immediate £1.4m loss or am I missing something?

[mallorca 9] 29/10/2019 11:33

More brilliant news.

It just get's better and better.

[spud] 29/10/2019 11:04

Good move imv:

Inland Homes plc ("Inland Homes", "Group" or "Company")

Purchase of joint venture partner at Cheshunt Lakeside



Inland Homes (AIM: INL) the leading brownfield developer, housebuilder and partnership housing company with a focus on the South and South East of England confirms that following its announcement on 23 September 2019, the Group has completed the acquisition of the 50% interest in Cheshunt Lakeside Developments Limited held by CPC Group Limited. The Group is also pleased to confirm that it has transferred a 50% equity interest in Cheshunt Lakeside Developments Limited to a new joint venture partner for a consideration of £28.5m in cash payable on deferred terms, maintaining the off balance sheet nature of the project.



A planning application for the reserved matters in respect of 195 homes in the first phase will be submitted shortly with a view for development to commence in early 2020. The site is now being prepared for development, with demolition of some of the buildings having commenced.


Stephen Wicks, CEO of Inland Homes, commented:

"Having secured the planning consent at Cheshunt Lakeside, we have now achieved another important step forward on this site by acquiring our original joint venture partner. We welcome our new partner with whom we have entered into a beneficial arrangement that will enable Inland to receive the majority of the development profits from this site."

spud

[daneswooddynamo] 25/10/2019 12:57

Obviously the enterprise value is more like 300m including debt

[davebowler] 25/10/2019 12:42

''Now, this is a staggering fact – the gross development value of the group’s entire land bank now exceeds £2bn. That compares with its current market capitalisation of just over £160m, which really does show the future potential for the company over the coming five years or more.''

[spud] 25/10/2019 12:15

Inland Homes – significant future growth is now underway and developing

By Mark Watson-Mitchell 24 October 2019


This promising little house builder is really bringing home the bacon, with a land bank that is growing is scale and quality, writes Mark Watson-Mitchell.

Just over a week ago, Inland Homes (LON:INL), my favourite brownfield developer, housebuilder and partnership housing company announced a trading update for the 15 months to the end of September.

It marked a period of substantial progress across the group’s operations. It also saw two of the group’s major sites getting appropriate permissions after lengthy timeframes.

It took five years of work on its 100-acre Wilton Park former Ministry of Defence site at Beaconsfield, Buckinghamshire, to eventually gain planning consent in the period for 304 new homes and 1,730 square metres of commercial space on what could well be a £350m development.

There could also be a further development possibility at the site for another 250 homes and an additional 18,500 sq. metres of commercial space.

The company also took three years in gaining planning consent for the former Tesco site next door to the station at Cheshunt Lakeside. They have permission for 1,725 homes and 19,000 sq. metres of commercial space on what could well be one of the largest brownfield developments in the south-east of England.

The Cheshunt development could have a development value of over £650m.

The group has stated that it is currently evaluating several routes for it to develop those projects in order to maximise shareholder returns.

The group’s land bank now stands at a record 7,796 plots, some 3,068 of which have planning consent. Those figures compare with the 2018 year’s totals of 6,870 plots, of which 1,547 plots were with planning permission.

The company’s growing strategic land portfolio, largely on ‘discount to market value’ options, has grown massively, now at some 3,533 plots. The group enjoys a good success rate in getting sites into local development plans.

Now, this is a staggering fact – the gross development value of the group’s entire land bank now exceeds £2bn. That compares with its current market capitalisation of just over £160m, which really does show the future potential for the company over the coming five years or more.

The company builds open market and affordable homes on its sites, as well as trading off various chunks of surplus property with enhanced plot values to other developers, thereby generating cash for further development.

It sold 577 plots during the 15-month period, compared to 837 plots sold in the 2018 year.

Its 200 open market completions in the period were down 75 on the previous year. However, as at 15 October the company had £41.6m worth of forward sales booked compared to £20m in 2018.

Overall, the group has a very good balance in its activities. It has several partnership housing projects underway with more to come. It also has homes for private sale, as well as selling off consented building land. In addition, it enjoys a useful £2.6m plus yearly rental income as a by-product of its activities.

The demand from housing associations for delivery of ‘turnkey’ projects is very strong currently, so the land bank will help to satisfy future developments.

It is also expecting to secure the first build to rent opportunity early in the current trading year.

The full period results will be announced sometime in January next year. It is perhaps too early for any profit estimates for the 15-month period and going forward. Even so I remain incredibly bullish about this group.

It is extremely well managed by very professional operators, who have shown their growing abilities before (when they built up Country & Metropolitan Homes before selling it off to Gladedale in 2005).

They are really pushing their group sensibly into the near future, and big profits are ahead without doubt. I see revenues rising to around the £200m/£250m levels, while between £20m to £30m doesn’t look unreasonable for pre-tax profits over the next few years.

Just think about the £2.6bn value of its land bank in relation to its tiny £160m market capitalisation – that instantly shouts totally undervalued!

The shares are currently trading at around the 77p level, at which I continue to rate them very highly. My target price is 110p, which I really do think is a very realistic goal.

spud