9th Jun 2016 08:34
LONDON (Alliance News) - Inland Homes PLC on Thursday said it has been involved in a "considerable expansion" of its activities over recent years and is now considering a range of debt options and sources to refinance its liabilities at lower interest rates and improved terms.
The brownfield regeneration specialist and housebuilder said it has historically funded its land purchases through a "number of sources and at a range of interest rates", but was now looking into new options, including the retail bond market.
This comes after Inland Homes said its land bank has now reached 5,672 plots, having risen from 4,839 plots on December 31, 2014, whilst its annual rental income currently stands at GBP2.3 million per year, from GBP800,000 at December 31, 2014.
Inland Homes also noted it signed a partnership deal with Southampton City Council in January, to turn a brownfield, riverside site into a mixed use development. The company said there were other deals in the pipeline.
Shares in Inland Homes were down 0.6% at 75.26 pence on Thursday.
By Hannah Boland; [email protected]; @Hannaheboland
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