Skinner ‘terminated’ as Inland Homes MD ‘with immediate effect’

Gary Skinner has been “terminated” as managing director of Inland Homes in a shock announcement this morning. In a brief stock exchange statement, Inland Homes said: “Skinner’s employment with the company was terminated with immediate effect on 5 April 2022. Accordingly, he has stepped down from the board.” A spokesman for the company declined to comment further. Skinner’s picture and bio have already been removed from the company’s website. Inland Homes appointed Skinner as managing director in 2016. He joined the board of directors in 2018. He was formerly an operations director at Willmott Dixon Housing, and prior to that a production director at George Wimpey. The news comes despite Inland Homes reporting record revenue of £182m in its most recent annual results. In its audited results for the year ending 30 September 2021, Inland said revenue was up by around 50% from 2020’s £124m. Pretax profit rose to £13.2m from £3.4m the previous year. EPRA net tangible assets increased to £246.4m from £235.2m in 2020. In a separate announcement, Inland said it has completed two land sales – the former Telephone Exchange in Staines and phase three of Gardiners Park Village in Basildon, both to private housebuilders. The company did not reveal the sale price but said the proceeds would be used to pay down the group’s debt, which stood at £118m at the end of September. The Staines site has planning for 206 homes and an estimated GDV of £65m. The Basildon site comprises 74 units with an estimated GDV of £27.5m. While Wicks specialises in the land sales side of the business, Skinner’s role was more focused on the construction side. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews