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."

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.

Recommended

Share tips of the week – 19 August
Share tips

Share tips of the week – 19 August

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
19 Aug 2022
How to invest in smart factories as the “fourth industrial revolution” arrives
Share tips

How to invest in smart factories as the “fourth industrial revolution” arrives

Exciting new technologies and trends are coming together to change the face of manufacturing. Matthew Partridge looks at the companies that will drive…
18 Aug 2022
How to invest today? Look to the past, not the future
Investment strategy

How to invest today? Look to the past, not the future

The past few years have seen so many changes to our way of life that many people said we had entered a “new normal”. But as it turns out, the new norm…
18 Aug 2022
A new legal headache for Haleon
Stocks and shares

A new legal headache for Haleon

Haleon, GSK’s former consumer-products arm, spun off last month, has made a dismal debut on the stockmarket.
17 Aug 2022

Most Popular

How to protect your wealth as inflation hits new record highs
Investment strategy

How to protect your wealth as inflation hits new record highs

UK inflation has hit a new record high of 10.1%. It's going to hurt, says Dominic Frisby. Here's how you can protect your wealth.
17 Aug 2022
How to cut your energy bill
Personal finance

How to cut your energy bill

The energy-price cap will almost double in the autumn. What does this mean for your money, and how can you alleviate the squeeze? Ruth Jackson-Kirby h…
17 Aug 2022
Are GSK’s legal troubles a threat to the firm’s survival?
Biotech stocks

Are GSK’s legal troubles a threat to the firm’s survival?

Pharmaceutical giant GlaxoSmithKline is facing legal action over heartburn drug Zantac that has seen billions wiped off its market value. Rupert Hargr…
16 Aug 2022