Housebuilder sees half year results improve
Aim-listed developer Inland Homes has submitted an outline planning application at Cheshunt Lakeside in Broxbourne, Hertfordshire, for up to 1,853 homes.
Describing the project as the company’s largest to date, Inland Homes chief executive Steve Wicks said the 30-acre site would also feature in excess of 18,000m² of commercial, retail, community, leisure and education facilities.
“This is a major milestone for Inland Homes, at what will be one of the South East’s major regeneration schemes,” he added.
Inland Homes bought the original 13-acre site, which included Tesco supermarket’s former headquarters, two years ago as part of a 50/50 joint venture with an unnamed partner and the housebuilder has since bought additional plots.
The firm has designed and masterplanned the site, and the outline application includes a primary school, community space and a number of infrastructure improvements. It is expected to provide up to 1,000 jobs on the completed site and a further 250 construction jobs.
Last year Inland Homes submitted a plan for a £350m mixed-use scheme in Buckinghamshire (pictured).
The firm has also announced an 8% hike in half year pre-tax profit to £5.4m. The group sold 338 building plots in the six months to 31 December, helping to boost turnover by 88% to £61.2m.
The government’s Help To Buy scheme was used by 61% of Inland Homes’ customers, it added.