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Company Inland Homes PLC
TIDM INL
Headline

Land update

Released 07:00 17-Jan-2013
Number 7244V07

RNS Number : 7244V
Inland Homes PLC
17 January 2013
 

For immediate release

 

 

17 January 2013

 

brownfield regeneration specialists and housebuilders

 

Inland Homes plc

("INLAND" or the "Company")

Land update

 

 

The Board of Inland Homes plc is pleased to announce that a further deferred land consideration payment on the project at West Drayton has been made to the Defence Infrastructure Organisation.

 

In accordance with the Option and Development Services Agreement with Drayton Garden Village Limited, Inland's profit share from this project now increases to 69.77% as a result of this payment.

 

Under the agreement, the Inland Group has the potential to earn up to 90% of the profits realised from the sale of the property over the life of the project.

 

 

 

Enquiries:

Inland Homes plc

Stephen Wicks, Chief Executive

Nishith Malde, Finance Director

Paul Brett, Land Director

Tel:  01494 762450

 

finnCap

Nominated Adviser & Broker

Corporate Finance: Matthew Robinson

or Rose Herbert

Corporate Broking: Simon Starr

Tel:  020 7220 0500

 

 

TooleyStreet Communications

IR & media relations

Fiona Tooley, Director

Tel: 07785 703523

or

Graeme Cull, Consultant

Tel: 0121 309 0099

 

Editor's Note:

www.inlandplc.com

AIM: Ticker: INL

INLAND's corporate strategy is to acquire sites with development potential and, by applying its expertise and knowledge of the planning system, achieve the consents required to add-value to its land portfolio.

 

The Company's focus is currently to identify and acquire brownfield land in South of England where INLAND considers it to hold excellent potential for residential and mixed use development including commercial space. The Company then seeks to enhance its land value by obtaining planning permission before selling consented land onto developers. This process can take a few years, during which time INLAND continues selling sites where it receives attractive offers and also develops homes on certain sites for private sale.

 


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