Inland Homes bags Newlon Build for E17

Inland Homes is to build 228 homes at the Homebase site in Walthamstow, E17, after selling the plots to housing association Newlon Build for £22.5m. The development deal will add £42.4m to Inland’s forward order book. The firm acted on behalf of external investors and will take £1.2m in fees from the deal. The group has separately secured a build contract for Inland Partnerships to construct the 228 homes, adding £42.4m to its forward order book, and bringing the total number of homes under construction on behalf of third parties to 1,358. Inland said: “The capital-light nature of this funding model, together with the management fees earned at various milestones of the project, enable the group to generate attractive and significant returns.” Inland Partnerships is also building 355 private homes in what is its largest partnership housing contract secured to date, at £88.9m. Contracts have also been completed for the sale of 173 plots within the same development to London BTR Investment Holdings for £27.5m. Completion of the sale of the remaining 182 plots is expected by September 2022. Inland Homes chief executive Stephen Wicks said the deal “further endorses the Inland Homes business model”. He added: “Inland is once again demonstrating its ability to add value at all stages of a project, from identifying the right site and obtaining planning permission on behalf of investors to having the expertise needed to deliver homes on behalf of one of the country’s leading housing associations.”   To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews