Inland Homes seals £95m deal for Ashford town centre scheme

Aaron Morby 4 years ago
Share

AIM-listed specialist brownfield land developer and house builder Inland Homes has struck a deal with a housing association to accelerate a major scheme in Ashford town centre, Middlesex.

Town centre scheme will be built out over four years
Town centre scheme will be built out over four years

Under the terms of the deal A2 Dominion will pay £95m for the Brooklands College site land plus delivery of 350 homes, £29.7m of this is for the land.

Inland Partnerships, the fast-growing construction arm of the group set up two years ago, will deliver the build phase on behalf of A2 Dominion.

Expected to take four years, the homes will range from one-to-five storeys. There will also be 65,000 sq ft of commercial space, a hair and beauty academy building together with improved infrastructures.

As part of the transaction, the commercial space will be transferred back to Inland for a nominal sum once construction is complete.

Stephen Wicks, CEO of Inland Homes, said: “This is a major step forward for Inland.

“Not only is it the largest land sale in the group’s history, but it also represents a major build contract for Inland Partnerships, which now has a forward order book of £100m.

“These transactions allow us to recognise land profits while also securing self-funding, cash positive construction contracts that provide a balance to open market speculative housebuilding.

“Inland currently has 550 homes under construction for private sale and this latest partnership contract brings the total number of homes being built for housing associations to over 500.

This deal, together with our pipeline and the supportive market backdrop, gives us confidence that within two years the Inland Group will complete the construction of over 1,000 residential homes per annum.”

 

Latest news

McGee in £2.4m provision for bid-rigging probe

Demolition contractor says provision will cover the expected fine over cover pricing ring
1 hour ago

First designs for £275m HS2 Midlands nerve centre

Contractor due to be named in Autumn next year for Washwood Heath hub
3 hours ago

London Bankside Yards next project switches from resi to offices

Revised plan submitted for 18-storey office next to Blackfriars Bridge
54 mins ago

Plans in for Cambridge North major mixed-use scheme

Over 400 homes and nearly 600,000 sq ft of office and shops planned for railway sidings site
3 hours ago

Barratt falls foul of planners on £25m estate

Council acts after residents complain about construction deliveries
2 hours ago

VolkerHighways and WJ Group shot blast roads with steel

Latest retexturing technique provides benefits all round
2 hours ago

Ten demolition firms named in cartel probe

Biggest names in demolition face massive fines over "unacceptable" behaviour on 19 contracts worth over £150m
3 days ago

Imtech vows to avoid big resi jobs after return to profit

Engineering services arm puts trio of loss-making residential jobs behind it
3 days ago

Sisk replaces Morgan Sindall on £1bn Midlands Highways Alliance

Four firms secure places in Midlands framework renewal race
4 days ago

Winvic wins Bristol Redcliff Quarter 468 flats job

Grainger buys planned build to rent project and brings in Winvic to start this Autumn
3 days ago

Peel takes on Wirral Waters after Urban Splash modular collapse

Developer is reviewing whether to return to traditional build methods after modular specialist collapse
3 days ago

Kier launches £80m JV to build 2,000 homes by 2027

Property arm JV with Lloyds fund to develop housing on urban brownfield sites
4 days ago

Mace chief Reynolds replaces Mitchell at CLC

Mark Reynold takes over as co-chair of the Construction Leadership Council
4 days ago

Cost inflation forces bid rethink for £200m M5 junction 10

ECI simplified and amendments made to reflect rising construction costs
4 days ago

Wages among key trades keep pace with cost of living rise

Self employed plasterers, plumbers, roofers and scaffolders enjoy wage rises ahead of annual inflation rate
4 days ago

Midgard drives recovery at JRL Group

Revenue tops £600m again at diversified contractor
5 days ago

Green light for £100m Norwich A47 dualling

Galliford Try to start work in October on 2.6km dualling between Norwich and Acle Straight
4 days ago

Design change sees 70,000 cubic metres of concrete cut on HS2 stretch

Revamp of Staffordshire cutting will mean 6,700 fewer concrete mixer lorry loads
5 days ago

Subcontractors and suppliers wanted across the Midlands

Constructionline Meet the Buyer event in Derby: Register now
5 days ago

Contract race starts as cost of giant aqueduct job hits £1.75bn

United Utilities looking to shortlist three bidders for Haweswater Aqueduct Resilience Programme
5 days ago

M&S blasts Gove after Oxford St rebuild plan called in

Retailer "bewildered" after Housing Secretary steps-in over embedded carbon concerns
6 days ago

Springfield buys rival Scottish house builder for £46m

Mactaggart & Mickel Group takeover deal includes 17 sites with planning for 700 homes
5 days ago

Costain bets on hydrogen infrastructure

Consortium launches to develop hydrogen infrastructure for shipping and aviation in the Westcountry
5 days ago

Caddick starts on Star Wars bar office scheme

Host of employee-friendly features on new building at Crewe Business Park
5 days ago

Murphy to host virtual recruitment day

Specialist engineering and civils contractor opens doors online to potential new staff: Register now
6 days ago

Plans in for Isle of Dogs 52-storey resi tower

460 flats skyscraper to replace offices at 4 & 5 Harbour Exchange Square
6 days ago

Van Elle seals piling deal on Transpennine Route Upgrade

Firm appointed to the piling framework for the West of Leeds section
6 days ago

Demolition firm fined £5,000 after fatal platform fall

Contractor went into administration following death plunge at Scottish Power site
6 days ago

Modular specialist TopHat to open vast housing factory

Goldman Sachs-backed house builder to open Europe's largest modular factory in Corby
7 days ago

Asphalt giants make low carbon standard for road mixes

Tarmac and Aggregate Industries make warm mix asphalt new standard on highways jobs
7 days ago

Contractor services