Inland Homes expands Essex residential pipeline with joint venture

The companies with develop the new homes on a three-acre site in Basildon, which was initially sourced by Anderson Group, which is already acting as a civil engineer on three other sites being developed by Inland in Essex.

They have contributed a £1.44m each to the project, which has an estimated gross development value of about £13m.

Anderson, through its subsidiary Constable Homes, will construct the homes, while Inland will be responsible for sales and marketing.

The agreement is the first phase of a larger development at the Gardiners Lane regeneration area where there is potential for 800 homes, and the company has already submitted a planning application for a further 89 plots.

Inland Homes chief executive Stephen Wicks said: "We are hopeful that this is just the first phase of a much larger scheme at the Gardiners Lane regeneration area in Basildon, Essex and are delighted to have secured another prime south east site, as we continue to grow our housebuilding programme."

Shares in Inland Homes were up 2.99% to 58.44p at 1022 GMT.