Inland Homes to buy site at former Ford plant
Inland Homes has exchanged contracts to buy part of the former Ford manufacturing plant in Dagenham, east London, with a GDV of circa £95m.
The site has planning consent for 325 homes and 1,600 sq m (17,200 sq ft) at the four-acre brownfield location.
Inland Homes said it will deliver the homes in a joint venture with a housing association, with 116 homes intended as affordable housing. The remaining 209 units will be sold on the open market.
Inland Homes has exchanged contracts to buy part of the former Ford manufacturing plant in Dagenham, east London, with a GDV of circa £95m.
The site has planning consent for 325 homes and 1,600 sq m (17,200 sq ft) at the four-acre brownfield location.
Inland Homes said it will deliver the homes in a joint venture with a housing association, with 116 homes intended as affordable housing. The remaining 209 units will be sold on the open market.
The development lies within the London Riverside Opportunity Area, which is a 3,000-hectare regeneration zone in the London Plan.
The acquisition is expected to complete in March, with construction beginning in the summer.
Stephen Wicks, chief executive of Inland Homes, said: “This is a significant acquisition for Inland Homes of a prime development opportunity in east London.
“Dagenham has some of the most affordable house prices out of all the London boroughs and this site will increase the provision of good quality, competitively priced homes, in an area benefitting from fast connectivity into central London.
“The opportunity fits in well with our strategy of providing lower cost homes in areas of high demand. At the same time, the proposed joint venture with a major housing association will provide Inland Partnerships with a significant new-build contract opportunity, adding to our existing forward order book of nearly £100m.”
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