19th Mar 2020 14:20
(Alliance News) - Inland Homes PLC on Thursday said the mayor of London has called in its major Hillingdon Gardens planning application after Hillingdon council said it was minded to reject it.
Having called in the application, the mayor will act at planning authority in considering the Hillington Gardens development.
Shares in the housebuilder and brownfield developer were up 4.7% at 33.50 pence in London in afternoon trading.
Inland Homes quoted "a Greater London Authority representative" who said the "proposed development has potential to make an important contribution to house and affordable housing supply" and "warrants further consideration by the mayor as the local planning authority".
Plans for Hillingdon Gardens include 514 homes constructed on the former site of the Master Brewer Hotel, of which 179 would be affordable homes.
Chief Executive Stephen Wicks said: "The announcement that the mayor of London is 'calling in' the Hillingdon Gardens planning application is very welcome, demonstrating our unrivalled ability to identify brownfield sites where we can add value. Not only will Hillingdon Gardens deliver more than 500 much needed homes to the area, it will also provide additional employment opportunities and public realm benefit."
Inland also commented on the Covid-19 pandemic, stating that is has put measures in places to mitigate disruption to its business and has "has borrowing facilities with well staggered maturity dates and has significant headroom for its house building activities".
Wicks added: "The group can confirm that current trading remains in line with the board's expectations with resilient demand across its trading activities and the business is well positioned to build on the success we reported in January over the coming months."
By Anna Farley; [email protected]
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