REG - Inland Homes PLC - Planning consent granted at Cheshunt Lakeside

Inland HomesAnnouncement

09/03/2023 10:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230309:nRSI4521Sa&default-theme=true

RNS Number : 4521S  Inland Homes PLC  09 March 2023

9 March 2023

Inland Homes plc

 

Planning consent granted at Cheshunt Lakeside

 

Inland Homes (AIM: INL) ("Inland Homes" or the "Company"), the leading
brownfield developer, housebuilder and partnership housing company with a
focus on the South and South East of England, is pleased to report its joint
venture, Cheshunt Lakeside Developments Limited has received detailed consent
for a further phase at Cheshunt Lakeside, Hertfordshire with a further 51
homes on the site, subject to the Section 106 Agreement being varied.

 

The consent continues on from the original outline planning resolution for the
Cheshunt Lakeside site, as announced on 26 June 2019, which is the largest
ever consent secured by Inland Homes.

 

The Cheshunt Lakeside original masterplan and outline planning consent will
create a new "urban village" comprising 1,725 homes, 19,000 sqm of commercial
space together with the provision for a new primary school.  Inland Homes,
together with its equal joint venture partner, owns and controls 853
residential plots and 4,905 sqm of commercial and educational space within the
masterplan area. Inland Homes is the lead developer on the broader masterplan,
which it is working with the council to deliver.

 

The detailed consent for this phase delivers a total of 425 homes including 51
extra much needed homes to the development masterplan, as such the masterplan
will now deliver 1,776 new homes overall, of which 904 are controlled by
Inland and its joint venture partner.  This phase of development also
delivers the new local centre for the development including 2,400 sqm of
commercial space, a landscaped public square and key highways infrastructure.

 

Inland continues to deliver regeneration for the local area with 195 homes
already sold to B3 Living on Phase 1A of the development on track for
completion in March 2023 and 205 homes sold on Phase 1B to be delivered to a
Build to Rent fund by late 2024.

 

Nish Malde, Group Finance Director, commented:

"The Group's joint venture Cheshunt Lakeside Developments Limited is
transforming this former industrial brownfield site into a thriving
residential and business community of which we can all be proud."

 

For further information, please contact:

 

Inland Homes plc Tel: 44 (0)1494 762450

 

Nishith Malde, Chief Financial Officer

 

Panmure Gordon (UK) Limited (NOMAD and broker to the Group) Tel: 44 (0)20 7886
2500

 

Dominic Morley / James Sinclair-Ford (Corporate Advisory)

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation (EU) No.
596/2014 as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR").

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUKRRRONUORAR