Inland Homes gains planning permission for Poole site
Inland Homes has gained planning permission for 268 residential homes and a commercial space in Lower Hamworthy in Poole, that could be worth several million should it wish to sell on the land for development.
Inland Homes has gained planning permission for 268 residential homes and a commercial space in Lower Hamworthy in Poole, that could be worth several million should it wish to sell on the land for development.
The development application was for a range of housing, which includes: 68 one-bedroom flats, 125 two-bedroom flats, 2 two-bedroom houses, 64 three-bedroom houses and 9 four-bedroom houses. In addition, there will be an electricity sub-station, a foul water pumping station, 436 car parking spaces and a 108,000 sq ft of commercial space.
Stephen Wicks, Chief Executive of Inland, commented: "After extensive negotiations with the Local Authority over many months, we are delighted to have obtained planning permission on this high profile site. Inland will be the first land owner to kick start the regeneration area in Lower Hamworthy."
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Duncan Hall, analyst with house broker Finncap, has a 'buy' recommendation with a price target of 28p on the stock. In an exclusive interview with Sharecast Hall explained: "The site is on the books for £8.8m and there will be a couple of million pounds uplift from having gained planning permission. The next issue is how to unwind it? Whether to sell it off piecemeal or to one developer?"
Certainly, whichever option Inland pursues it now has the opportunity to realise the profits by disposal and recycle the cash into new sites.
Inland's shares were up 0.75p to 19.75p at 11:30.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will UK inflation rise tomorrow ahead of BoE meeting?
August’s inflation report will be published at 7am tomorrow, one day before the Bank of England’s next rate-setting meeting
-
Thousands of savers with £250k pensions take cash over tax-free money and IHT fears
With a record £70 billion withdrawn from pensions in the year to March, experts are concerned savers are making knee-jerk decisions without advice that could affect their long term wealth