Administrators to sell Inland Homes’ £620m site
Steven Muncaster and Rob Armstrong of Kroll have been appointed as joint administrators of Cheshunt Lakeside Developments, the company behind Inland Homes’ £620m Cheshunt Lakeside scheme in Hertfordshire.
The development aims to deliver a total of 1,725 homes, including affordable housing, 204,514 sq ft of commercial space, and a primary school.
Inland Homes received planning approval from Broxbourne Council for the site in 2019.
Steven Muncaster and Rob Armstrong of Kroll have been appointed as joint administrators of Cheshunt Lakeside Developments, the company behind Inland Homes’ £620m Cheshunt Lakeside scheme in Hertfordshire.
The development aims to deliver a total of 1,725 homes, including affordable housing, 204,514 sq ft of commercial space, and a primary school.
Inland Homes received planning approval from Broxbourne Council for the site in 2019.
The developer also received a mezzanine loan facility of £14.25m from Homes England available to 21 March 2024, with repayment due by 31 December 2026.
Inland Homes issued a notice of intention to appoint administrators, last month.
Rob Armstrong, managing director, of Kroll’s Real Estate Advisory Group said: “The development represents a great residential and business opportunity for the local community.
“The joint administrators will work closely with Kroll’s specialist real estate team to ensure the best possible outcome for the development.”
To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @AkankshaEG or @EGPropertyNews