Inland Homes secures planning approval for £350m Wilton Park scheme in UK
June 08, 2019 – House builder and partnership housing company Inland Homes has secured planning approval for its £350m Wilton Park development on a 100-acre site in Buckinghamshire, South East England.
Located close to Junction 2 of the M40 and Beaconsfield and Seer Green Stations, the Wilton Park housing project will give easy access to London Marylebone within 23 minutes.
The approval to build 350 homes as well as commercial and community space within a parkland setting on the site has been granted by the South Bucks District Council’s planning committee.
The resolution to grant planning permission for the Wilton Park development, however, is subject to the signing of an s106 agreement.
Subject to a draft allocation for development, a further part of the site will see the construction of an additional 250 homes and 200,000ft² of commercial space.
Inland Homes said that it is yet to receive planning decision on its Cheshunt Lakeside scheme in Hertfordshire.
The planning decision, which was deferred in May 2019, is now planned to be heard by the planning committee on 25 June 2019.
Inland Homes CEO Stephen Wicks said: “We have continued to build on the underlying value of our projects since our half-year end results and a significant amount of effort has been put into both Cheshunt Lakeside and Wilton Park.
“After a number of years of hard work on Wilton Park, I am delighted with the positive decision delivered by the planning committee yesterday.
“With planning approval anticipated in June 2019 on Cheshunt Lakeside and subsequent value realisation, it is appropriate that we extend our reporting period by three months in order for us to report to shareholders on the effect to the underlying value of the Group.”
The firm expects the two sites, subject to positive decisions, to result in an increase in their respective EPRA valuations.
In a statement, Inland Homes said: “Going forward, the Board will be reviewing the appropriate split between its land trading business and its growing partnership & homebuilding businesses, recognising the greater value attributed to income streams with higher visibility of revenue and the Group’s established construction capabilities.”