REG - Inland Homes PLC - Hillingdon Gardens site update

Inland HomesAnnouncement

17/01/2022 07:05

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RNS Number : 5486Y  Inland Homes PLC  17 January 2022

17 January 2022

 

 

Inland Homes plc

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

 

Hillingdon Gardens site update

 

Inland Homes plc, the leading brownfield developer, housebuilder and
partnership housing company with a focus on the South and South East of
England, is pleased to announce that the application by the London Borough of
Hillingdon (the Borough) to seek a judicial review of the Mayor of London's
decision to approve plans for 514 homes at Hillingdon Gardens, Hillingdon has
been quashed by the High Court.

 

The scheme was originally refused by the Borough as the local planning
authority, then approved by the Greater London Authority (GLA) in September
2020. The Secretary of State then placed a 'holding order' on the project
whilst a review was undertaken about whether it should be called in for
determination. The holding order was released after six months and planning
consent granted by the GLA in March 2021.

 

The dismissal of the judicial review challenge exhausts all options open to
the Borough to prevent the development of this important brownfield site.

 

The plans for Hillingdon Gardens will transform a derelict former commercial
site, creating a residentially led, mixed-use neighbourhood, with a network of
pedestrianised areas, landscaped public squares and extensive green spaces.
The project will deliver 182 (35%) new affordable homes alongside significant
contributions towards local infrastructure improvements and biodiversity.

 

The Hillingdon Gardens scheme is part of Inland Homes' asset management
division. This is a high-growth arm of the Group and generates substantial
service revenues with significantly reduced investment and capital
consumption. The Group secures sites on behalf of investors and uses its
extensive land and planning expertise to secure planning approval on their
behalf. As 'capital light' activities, these schemes can generate attractive
returns.

 

The Group is currently managing six asset management projects on behalf of
investors, which combined have the potential for nearly 3,300 homes.

 

Glynswood, High Wycombe, Buckinghamshire

The Company is also pleased to confirm that it has secured a resolution to
grant consent for 50 homes at Glynswood, High Wycombe. The units are
predominately houses. This is part of the Group's strategic land portfolio,
where land is held via discount to market value options.

The Group expects to secure consent on a further four strategic sites in the
course of this calendar year.

Stephen Wicks, CEO of Inland Homes, commented:

 

"The former Master Brewer site is a brownfield site that has been vacant for
11 years and is exactly the type of scheme where we can make a meaningful
contribution to housing delivery in a sustainable way.

 

"We are very pleased that this scheme has cleared the final obstacle to its
development. This consent has taken over three years to be validated and has
been extremely difficult to achieve. It is very disappointing that it should
be such a long and torturous process to develop on an allocated brownfield
site in a highly sustainable location.

 

"It is a great testament to our legal and planning team that we have been able
to overcome the many obstacles that were put in our way and we can now finally
get on with the job of delivering much needed homes for London.

 

"The Hillingdon Gardens site is part of our asset management division, where
we are seeing increasing demand for our experience and skill in navigating the
planning system. This will be an area of primary focus in the coming year and
we are excited about the opportunities in this growing area of the business."

 

Enquiries

 Inland Homes plc:                Tel: 44 (0)1494 762450
 Stephen Wicks, Chief Executive
 Nishith Malde, Finance Director
 Gary Skinner, Managing Director

 Panmure Gordon (UK) Limited      Tel: 44 (0)20 7886 2500
 Dominic Morley
 Erik Anderson

 Instinctif Partners              Tel: 44 (0)20 7457 2020

 Tim McCall
 Galyna Kulachek
 Bryn Woodward

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 ("MAR").

Notes to Editors:

Incorporated in the UK in 2005, Inland Homes plc is an AIM-listed specialist
housebuilder and brownfield developer, dedicated to achieving excellence in
sustainability and design.

Inland Homes acquires brownfield land in the South and South East of England
principally for residentially led development schemes. The business then
enhances the land value by obtaining planning permission, before building open
market and affordable homes or selling surplus consented land to other
developers to generate cash.

The Company is committed to extensive public and community consultation in
order to ensure that, where possible, local community needs and objectives are
met.

Inland's aim is to create sustainable communities and homes which set a
benchmark for all future developments in the South and South East of England.
The Company is always looking for brownfield sites without planning permission
for future development.

Environmental, Social and Governance credentials

Inland Homes is committed to ensuring its land, housebuilding and partnership
housing activities leave a positive lasting legacy. As specialists in
brownfield site regeneration the Group already has a proud history of adding
lasting value through its expertise and experience in site remediation, which
allows derelict and near derelict land to be regenerated and used for the
construction of new homes.

Inland Homes takes its position as an industry leader extremely seriously and
has developed its Environmental, Social and Governance (ESG) framework against
the broader backdrop of an escalating global climate issue. The Group's ESG
framework, which has been aligned to four of the UN Sustainable Development
Goals, sets out our high-level commitments. Using this framework, we are now
focused on developing a full ESG strategy. The strategy will identify clear
goals and metrics to enable us to measure and report on our performance and
success in this space.

For further information, please visit the Inland Homes website at:
www.inlandhomesplc.com (http://www.inlandhomesplc.com)

Hugg Homes - www.hugghomes.co.uk (http://www.hugghomes.co.uk)

Rosewood Housing - www.rosewoodhousing.co.uk
(http://www.rosewoodhousing.co.uk)

 

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