Search Share Prices
Inland Homes buying out rest of Brooklands College site
Brownfield regeneration-focussed housebuilder Inland Homes announced the unconditional exchange of contracts to acquire its joint venture partner's 80% interest in Brooklands Helix Developments on Monday.
The AIM-traded firm said completion of the purchase was set for 29 March, following which Inland Homes would own 100% of BHDL.
BHDL owns the former Brooklands College, a prime 10 acre site in the town centre of Ashford in Middlesex.
The company said the site had planning consent for 357 homes, including 32 affordable units, and 619 square metres of flexible commercial space with an estimated gross development value of £120m.
Preliminary works, including demolition and site clearance, had already commenced.
"This is a major regeneration project and a fantastic site right in the heart of Ashford town centre, a highly sustainable location that is close to the station, providing access to London Waterloo in under 40 minutes," said Inland Homes chief executive Stephen Wicks.
"This new development will deliver new shops and homes, whilst opening up four acres of public open space which Inland will use to establish a new vibrant community in this growing commuter town."