Inland Homes PLC Inland Homes agrees contract with Octavia Housing (7913A)
24 Enero 2020 - 01:00AM
UK Regulatory
TIDMINL
RNS Number : 7913A
Inland Homes PLC
24 January 2020
24 January 2020
Inland Homes plc
("Inland Homes", "Group" or "Company")
Inland Homes agrees partnership development contract
with Octavia Housing
Inland Homes ("Inland Homes" "the Group" or "the Company"), the
leading brownfield developer, housebuilder and partnership housing
company with a focus on the south and south-east of England, has
signed a contract with Octavia Housing ("Octavia"), a leading
provider of affordable housing, for the development of Afrex House,
in Alperton, north-west London.
The development of this former light industrial site into 31
one, two and three-bedroom apartments will support the broader
regeneration of the Alperton area, with the site falling within the
wider Alperton Growth Area and one of the Greater London
Authority's allocated Housing Zones.
Inland Homes secured planning consent on behalf of investors as
part of its asset management activities in March 2019 and has now
entered into a GBP6.5m build contract with the affordable housing
provider. Inland Partnerships, the Group's fastest growing
business, will deliver the build of this development, with
demolition of the existing buildings on site scheduled to commence
in April 2020, and completion scheduled for July 2022.
In line with the Group's strategic priorities, Inland
Partnerships more than tripled the number of homes under
construction on behalf of partners in its last financial period. As
at 30 September 2019, the Group had 892 private and 921 partnership
homes under construction. Partnership transactions accelerate
revenue and provides the Group with monthly cash flow that provides
a balance to open market housebuilding.
Stephen Wicks, CEO of Inland Homes commented:
"Inland Homes has proven credentials in the delivery of turn-key
schemes on behalf of partners and this contract, our second with
Octavia, is evidence of the sustained demand from industry for
these types of schemes - and its confidence in our ability to
deliver.
"Our expertise and experience will ensure the commercial
viability of this scheme and its success in meeting both local
needs and the Borough's aspirations."
Dave Woods, Development Director at Octavia, said:
"As a not-for-profit housing provider Octavia is pleased to be
working with Inland Homes again, this time on a scheme which will
deliver much-needed new affordable homes for rent and shared
ownership at an attractive canal-side location in Alperton, an area
which is currently undergoing major regeneration.
"Octavia believes in supporting mixed communities in London and
in enabling people on lower or average incomes to continue to live
close to where they work or have social ties. These homes support
this ambition through helping the London Borough of Brent to meet
some of their housing needs."
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 7 457 2020
Mark Garraway
James Gray
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.
For further information, please visit the Inland Homes website
at www.inlandhomes.co.uk.
Hugg Homes - www.hugghomes.co.uk
Rosewood Housing - www.rosewoodhousing.co.uk
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END
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