(INL) Inland Homes

Inland Homes plc

('Inland' or the 'Company')

Land Update

Inland Homes plc which specialises in buying brownfield sites and enhances their value before selling consented land onto developers, is pleased to confirm that further to the announcement made on 13 December 2011, completion of the sale of an 80 bed nursing home site at Drayton Garden Village has now legally completed and the £1.8m proceeds have been received by Drayton Garden Village Ltd.

Stephen Wicks Chief Executive of Inland commented.

"I am delighted the sale of this plot has now completed.  This is a substantial return for a relatively small part of the Drayton Garden Village site and demonstrates the ongoing demand for prime commercial land from within our portfolio."

About Inland:

Inland identifies brownfield land in the South East of England with excellent potential for residential and mixed use development including commercial space.  Inland then enhances the land value by applying its expertise to obtain planning permission and subsequently sells the consented land onto house builders.  Inland's current portfolio consists of 10 sites with a total of 1,514 residential plots of which 1,021 are consented and 260,000 sq. ft of commercial space of which 152,000 sq. ft. is consented.  Inland's strategy is to secure large sites as principals or with joint venture partners.  Land disposals are core to fund operations and realise the value of existing sites.  The Company also develops a small part of large sites and constructs the infrastructure so as to provide serviced sites to house builders and create an attractive environment.

Inland Homes plc

('Inland' or the 'Company')

Land Update

Inland Homes PLC which specialises in buying brown field sites and enhances their value by obtaining planning permission before selling consented land onto developers, is pleased to announce that following exchange of contracts in July 2011, the Group has completed the purchase of the northern part of St John's Hospital in Chelmsford, Essex for £4.75m without recourse to any debt finance.  This is a 6.5 acre brownfield site which already benefits from a resolution to grant planning permission for a residentially led scheme.  However, Inland are seeking to improve the scheme and thereby enhance its value through a complete redesign. The Group has already undertaken extensive consultation with both the local authority and the public and expects to submit a detailed planning application for approximately 130 residential dwellings by the end of this month.

About Inland:

Inland identifies brownfield land in the South East of England with excellent potential for residential and mixed use development including commercial space.  Inland then enhances the land value by applying its expertise to obtain planning permission and subsequently sells the consented land onto house builders.  Inland's current portfolio consists of 10 sites with a total of 1,514 residential plots of which 1,021 are consented and 260,000 sq. ft of commercial space of which 152,000 sq. ft. is consented.  Inland's strategy is to secure large sites as principals or with joint venture partners.  Land disposals are core to fund operations and realise the value of existing sites.  The Company also develops a small part of large sites and constructs the infrastructure so as to provide serviced sites to house builders and create an attractive environment.

Inland Homes plc

('Inland' or the 'Company')

Land Update

Inland Homes PLC which specialises in buying brown field sites and enhances their value by obtaining planning permission before selling consented land onto developers, is pleased to confirm that Drayton Garden Village Limited has completed the sale of 88 apartment plots at Drayton Garden Village for £5.75m.  Further sale proceeds may be receivable based on the house builder exceeding the revenue from completed units beyond an agreed threshold. 

Drayton Garden Village is consented for 773 residential plots and 55,000 sq ft of commercial space of which 236 plots have been sold and unconditional contracts have been exchanged for the sale of the land for an 80 bed nursing home.  Gross receipts from these sales now amount to £22.78m. 

About Inland:

Inland identifies brownfield land in the South East of England with excellent potential for residential and mixed use development including commercial space.  Inland then enhances the land value by applying its expertise to obtain planning permission and subsequently sells the consented land onto house builders.  Inland's current portfolio consists of 10 sites with a total of 1,514 residential plots of which 1,021 are consented and 260,000 sq. ft of commercial space of which 152,000 sq. ft. is consented.  Inland's strategy is to secure large sites as principals or with joint venture partners.  Land disposals are core to fund operations and realise the value of existing sites.  The Company also develops a small part of large sites and constructs the infrastructure so as to provide serviced sites to house builders and create an attractive environment.

Inland Homes plc

('Inland' or the 'Company')

Directors' dealings

Inland Homes PLC which specialises in buying brown field sites and enhances their value by obtaining planning permission before selling consented land onto developers, was notified on 15 December 2011 of the following transactions on the same date in the Company's shares by directors as set out below. All the shares were traded at a price of 15p per share.

* These shares were acquired on behalf of Nishith Malde's pension fund.

For further information:

About Inland:

Inland identifies brownfield land in the South East of England with excellent potential for residential and mixed use development including commercial space.  Inland then enhances the land value by applying its expertise to obtain planning permission and subsequently sells the consented land onto house builders.  Inland's current portfolio consists of 10 sites with a total of 1,590 residential plots of which 1,109 are consented and 260,000 sq. ft of commercial space of which 152,000 sq. ft. is consented.  Inland's strategy is to secure large sites as principals or with joint venture partners.  Land disposals are core to fund operations and realise the value of existing sites.  The Company also develops a small part of large sites and constructs the infrastructure so as to provide serviced sites to house builders and create an attractive environment.