Inland Homes To Acquire Former Brooklands College Site In Middlesex

12th Mar 2018 10:19

LONDON (Alliance News) - South East England-focused housebuilder Inland Homes PLC said it has agreed to acquire its joint venture partner's 80% interest in Brooklands Helix Developments Ltd for an undisclosed price.

Brooklands Helix owns the 10 acre site in the town centre of Ashford, Middlesex, where Brooklands College used to be situated. The site currently has planning consent for 357 homes, and 619 square metres of commercial space, with an estimated gross development value of GBP120.0 million.

Demolition and site clearance has already started, and completion of the purchase is expected on March 29., following which Inland Homes will own 100% of Brooklands Helix.

"This is a major regeneration project and a fantastic site right in the heart of Ashford town centre, a highly sustainable location that is close to the station, providing access to London Waterloo in under 40 minutes. This new development will deliver new shops and homes, whilst opening up four acres of public open space which Inland will use to establish a new vibrant community in this growing commuter town," Chief Executive Stephen Wicks.

Inland Homes will publish its six-month results on March 28.

Shares in Inland Homes were up 1.2% at 60.21 pence on Monday.

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