Inland Homes on track to develop huge riverside brownfield site in Southampton

Residential developer, Inland Homes, has signed an agreement with Southampton City Council to develop an 8.9-acre brownfield site called Chapel Riverside; the project has an estimated value of £110m. Inland will be responsible for the delivery of over 380 residential units and a riverside commercial development.

The developer has also received a resolution to gain planning permission for 95 residential units and 4,000 sq ft of commercial space at an existing development site, The Vale, Acton in West London, which has an estimated GDV upwards of £50m. Inland Homes have also submitted an application to build more than 400 units and 60,000 sq ft of commercial space on an impressive 75 acre site at Aston Clinton, Buckinghamshire.

The company has sold 244 plots across three sites since 1 July 2015 for a total of £21.5m; this includes 175 plots at the former RAF Stanbridge site in Leighton Buzzard, Bedfordshire. The developer in question has also completed 74 private housing completions since 1 July 2015, generating overall revenues of £24.7m. Forward sales stand at £21.7m. The company’s current land bank includes 5,043 plots; impressively, 967 of these have a planning consent or a resolution to grant planning consent.

Stephen Wicks, Inland Homes’ CEO, said: “The group is on track to deliver another significant set of results for the current financial year. Our strategy of focusing in southern England continues to position us strongly in our own market and we aim to take advantage of the current favourable economic environment to capture further opportunities. Looking forward, we will continue executing our unique land bank acquisition strategy, as well as crystallising value on existing plots, delivering further shareholder value.”