21st Nov 2006 07:00
Inspace Plc21 November 2006 Press Release 21 November 2006 Inspace plc ("Inspace" or "the Company") Analyst and Investor Site Visit Inspace plc (AIM:INSP), one of the UK's leading specialist service providers tothe social housing market, is today hosting a site visit for analysts andinvestors at the Company's branch in Bow, East London. The purpose of the visit is to provide an opportunity to gain a broaderunderstanding of the newly acquired social and affordable housing activities inthe context of the enlarged Inspace group. The site tour will include a reviewof completed and ongoing work carried out in partnership with Circle Anglia, oneof the largest social housing landlord's in the UK. No new trading or financial information will be made available during the visit. - Ends - EnquiriesInspace plcAndrew Telfer, Chief Financial Officer Tel: +44 (0) 1462 678 [email protected] www.inspace.co.uk Seymour PierceMark Percy, Corporate Finance Tel: +44 (0) 20 7107 [email protected] www.seymourpierce.com Media enquiries:AbchurchHenry Harrison-Topham Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Notes to editors Inspace plc is a property based support services group, and one of the UK'sleading specialist service providers to the social housing market. Subsequentto the completed acquisition of Widacre Limited on 31 August 2006, Inspace nowhas three complementary areas of activity: Social Housing, Affordable Housingand Corporate Assets. Social Housing - creating and maintaining sustainable homes The division is one of the UK's leading specialist support service providers tosocial housing landlords through long term framework contracts. Its servicescomprise major 'repair and maintenance', 'stock reinvestment' and new buildprogrammes for local authorities, Arms Length Management Organisations (ALMO)and Registered Social Landlords (RSLs). Total spending on social housing is currently around £14 billion per annum, ofwhich around £10.3 billion is spent on repair, maintenance and improvement. Ofthis, £4 billion is spent on ongoing repair and maintenance, with the remaining£6 billion being spent on capital projects such as major refurbishment andimprovement. This includes a contribution of between £1 billion and £2 billiona year from the Decent Homes initiative. The provision of new housing, which iscurrently running at around 35,000 units a year, adds a further £3.5 billion tothis sum. Affordable Housing - developing integrated communities The Affordable Housing division specialises in the provision of low cost homesfor sale in partnership with RSLs, usually alongside social housing built by theSocial Housing division, as part of more extensive mixed tenure schemes. It hasalready established a number of joint venture companies with RSLs and throughits involvement in the Key London Alliance consortium, has been appointed toprovide mixed tenure developments under the Government's London Wide Initiative. Corporate Assets - improving and maintaining public and private real estate The Corporate Assets division provides a comprehensive repair, maintenance,capital works and interior design service across public and private sectornon-residential real estate. It delivers 24/7 integrated maintenance servicesacross England, Scotland and Wales through its national network of branches and'home based' mobile engineers. Its specialist design-led service offerscustomers an integrated interior design, installation and furnishing 'one stop'solution. Further information on Inspace can be found at www.inspace.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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