Inland Homes (INL) has completed the development of its Drayton Garden Village site with the sale of 205 residential plots with planning consent for £19m. Demand for the group's land and the houses that it builds itself means that it expects to significantly beat current consensus estimates for profits in the year to this June of around £12.7m.
In the report that accompanied interim results in March, Inland stated that it was in advanced negotiations to sell these plots to an institutional investor in the private rented sector. But these negotiations were suspended after a major housebuilder made a significantly bigger offer.
Chief executive Stephen Wicks indicated that, while it is unfortunate that the sale to the institutional investor didn't go through, he hopes to continue discussions with the investor in respect of other sites within its land bank.
