Inland Homes given consent for 206 residential units
(ShareCast News) - South and South East England-focussed housebuilder and brownfield regeneration specialist Inland Homes announced on Wednesday that it received a resolution to grant planning consent to develop 148 residential units at Sherborne Wharf, Birmingham, in the company's first scheme in the Midlands.
The AIM-traded firm described Sherborne Wharf as a "prime 2.4 acre site" located to the west of Birmingham City in the West Midlands, adjacent to Birmingham Canal and approximately one mile west of Birmingham New Street station.
That transport connection provided access to London Euston in under 90 minutes.
The site comprised three connected areas of land, and Inland has secured planning permission for the development of 148 residential units, comprising 45 one bedroom and 103 two bedroom apartments.
Inland's board said the site has an expected GDV of approximately £30m.
The company also received a resolution to grant planning consent for the development of 58 residential units, comprising 27 one bedroom and 31 two bedroom apartments, at Beaumont Works in St Albans.
Beaumont Works was described as a 1.4 acre site, located a 15 minute walk from St Albans City train station, providing access to central London within 20 minutes.
The site comprised a Grade II listed former commercial unit that would be converted for residential use, as well an element of new build and a car park for 60 cars.
That site has an expected GDV of approximately £21m, Inland claimed.
"While the main focus of our business is on the commuter belt around London as well as other popular areas in the South of England such as Southampton, the strength of our understanding and specialist expertise in the planning system means that we are able to identify opportunities outside of our normal geographical remit, acquire sites and secure planning permission in order to deliver meaningful value for our shareholders," explained Inland Homes land director Paul Brett.
"Inland Homes now has a strong pipeline of high quality, affordable and much needed homes, further underlining the strong position of the company against the backdrop of the continuing housing shortage crisis."