30th Oct 2014 11:24
LONDON (Alliance News) - Housebuilder and brownfield land developer Inland Homes PLC Thursday said it expects shortly to conclude an agreement with Southampton City Council to turn a brownfield, riverside site into a mixed use development, after being chosen by the council as its development partner.
The agreement is for the Chapel Riverside site, an 8.9 acre site owned by the council with a gross development value more than GBP70 million.
Inland intends to seek planning permission for a mixed use development consisting of approximately 6,500 square metres of commercial space and about 350 residential homes and flats, in addition to a new public park and an extension of the existing riverside walkway.
It expects to submit the application in the second half of 2015.
"The Chapel Riverside site will be the second site Inland has in Southampton, following the acquisition of the seven acre site that is the home of the former Meridian television studios in May of this year, and we look forward to working alongside Southampton City Council to deliver a second key generation project for the city," Chief Executive Stephen Wicks said in a statement.
"Our land bank continues to grow, the expansion of our housebuilding activity is delivering results and we continue to look to the future with great confidence," Wicks added.
Inland Homes shares were up 2.3% at 51.00 pence shortly after the announcement on Thursday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
INL.L