Inland Homes has sold a site on its Cheshunt Lakeside scheme in Hertfordshire to housing association B3 Living for £15m, and will be developing the 195-home scheme for the company.
The housebuilder sold the site through its joint venture, Cheshunt Lakeside Developments, and agreed a £34.5m deal to build the scheme for B3 Living. Construction will begin in October this year.
Elsewhere, Inland Homes has sold a site in Staines for £6.6m and will manage the planning process on behalf of the buyer and receive a share of the profit once consent is granted. In High Wycombe, it sold Burleighfield House for £1.65m. And in Southampton, it has agreed a forward sale of 24 homes under construction at its Chapel Riverside development for £4.5m.
Chief executive Stephen Wicks said: “These recent transactions, at attractive prices and in a difficult economic environment, are a testament to the high quality of Inland’s assets.
“The new partnership housing contract with B3Living takes our forward order book in this division to over £100m.
“We have a number of further significant sales in the pipeline and we will update the market in due course.”
Inland Homes also announced non-executive director Laure Duhot has stepped down from the board. Duhot, who is also head of investment and capital markets Europe at Lendlease, left the business last Friday and Inland Homes will shortly be launching a hunt for another non-executive director.
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