Advertisement

Inland Homes ups profit share from former RAF site in Middlesex

Inland Homes, the AIM-listed brownfield regeneration group, has increased its profit share from the Drayton Garden Village project in Middlesex after a further deferred payment to the government.

Inland Homes, the AIM-listed brownfield regeneration group, has increased its profit share from the Drayton Garden Village project in Middlesex after a further deferred payment to the government.

As part of its option and development services agreement with Drayton Garden Village, Inland has made another payment to the Defence Infrastructure Organisation (DIO) to raise its profit share to 72.08%. The DIO, formed in 2011, replaced the former Defence Estates and manages the Ministry of Defence's property infrastructure and defence estate.

Advertisement - Article continues below

The regeneration in West Drayton comprises of 773 new homes, an 80-bed care home and a number of commercial premises on the 31-acre former RAF site.

The company still has the potential to earn up to 90% of the profits realised from the sale of the property over the life of the project, under the agreement with the DIO.

Inland also announced that it has now completed the sale of its stake in Howarth Homes for £1.4m at a profit of £0.39m.

The firm's original intention behind its investment in Howarth was to seek a possible stock-market flotation. However, Inland said in its half yearly report last month that conditions on the AIM Market have "not been conducive to flotations in recent years" and announced its intention to sell its holding.

"These transactions mark further positive progress for Inland. It is particularly pleasing to have achieved our exit from the equity of Howarth at a satisfactory figure. These proceeds will be re-invested in our growing house building operations," said Chief Executive Stephen Wicks.

"We continue to have a good on-going relationship with Howarth as one of our key building contractors and our joint venture partners on the Croxley Green development."

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/investments/commodities/gold/601444/these-seven-charts-show-exactly-why-you-must-own-gold-today
Gold

These seven charts show exactly why you must own gold today

Covid-19 is accelerating many trends that were already in existence. The rising gold price is one such trend. These seven charts, says Dominic Frisby,…
3 Jun 2020
Visit/investments/stockmarkets/601460/disease-rioting-and-mass-unemployment-so-why-are-markets-soaring
Stockmarkets

Disease, rioting and mass unemployment – so why are markets soaring?

Despite some pretty strong headwinds in the last year, America’s S&P 500 stock index is close to all-time highs. John Stepek explains why markets seem…
4 Jun 2020
Visit/investments/commodities/601433/commodities-possibly-the-biggest-opportunity-in-todays-markets
Commodities

This looks like the biggest opportunity in today’s markets

With low interest rates and constant money-printing, most assets have become expensive. But one major asset class hasn’t. John Stepek explains why com…
2 Jun 2020