19th Nov 2015 09:50
LONDON (Alliance News) - Housebuilder Inland Homes PLC on Thursday said it has sold a major portion of its site at the former RAF Stanbridge site, has signed a new revolving credit facility for a subsidiary and has taken a stake in a new premium housebuilding firm.
Inland said it has sold the majority of its site at the former RAF Stanbridge site in Leighton Buzzard in Buckinghamshire to Catalyst Housing Association for GBP14.0 million. Inland said the consideration is significantly ahead of book value for the assets.
The company has also signed a new GBP20.0 million revolving credit facility with Barclays Bank PLC, to be used to fund the majority of its housebuilding activities.
Finally, the group said it has taken a 25% stake in Troy Homes, a newly-created premium housebuilder, for GBP1.0 million.
Shares in Inland were up 0.7% to 69.25 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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