Inland Homes ends 2017 with strong momentum
Inland Homes said it ended 2017 with strong momentum and that the outlook was positive for the coming year.
The brownfield developer and housebuilder reported £12.7m of land sales in December, including the sale of 146 plots in Birmingham to Crest Nicholson and an agreement to sell a further 87 adjacent plots to the housebuilder.
Inland has exchanged contracts on a brownfield site in Maidenhead, Berkshire, with space for up to 40 new homes within 10 minutes' walk of Maidenhead station, which will be on the Crossrail line opening in December 2019. It has also secured a site in Elstree, Hertfordshire, with space for up to 50 homes.
Inland buys brownfield sites in southern England, where demand for housing is high. After gaining planning permission it sells the land to developers or builds homes itself.
The AIM-listed company's construction arm has signed a £29.5m deal to build 136 homes for a housing association in Brent. The business has contracts worth £41.5m and expects to secure another £25m of construction deals in the second half of the financial year.
Stephen Wicks, Inland's chief executive, said: "Inland Homes is well placed to achieve further significant growth in 2018, with the in-house construction team now well established and beginning to bear fruit. Our housebuilding programme is at a record level, with over 500 homes currently under construction and a healthy pipeline of new development projects in place for the coming months, supporting our positive outlook."