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Inland Homes plc gets go-ahead for largest ever development

 

  • Permission granted for mixed-use development on site of former Tesco HQ
  • Master plan comprises 1,725 homes, 19,000 sqm of commercial space
  • Estimated gross development value of £620m to Inland Homes and its JV partner

 

Inland Homes, (AIM: INL), the leading brownfield developer, housebuilder and partnership housing company with a focus on the South and South East of England, has been granted planning permission for its largest ever scheme subject to signing of a S106 agreement. 

Broxbourne District Council’s Planning Committee has approved the application for a significant mixed-use development at Cheshunt Lakeside, Hertfordshire; a 30-acre brownfield site that was in part formerly home to the Tesco headquarters. 

This approval follows on the back of approval - subject to the signing of a S106 agreement - earlier this month on the developer’s flagship site at Wilton Park in Beaconsfield, Buckinghamshire.

The Cheshunt Lakeside master plan comprises c1,725 homes and 19,000 sqm of commercial space, together with a new primary school.  Inland Homes, together with its equal joint venture partner, owns and controls 1,253 residential plots and 4,905 sqm of commercial and educational space within the masterplan area with an estimated gross development value of £620m. Inland Homes is the lead developer on the broader masterplan, which it is working with the council to deliver. 

This new “urban village” will be located in 8-acres of landscaped grounds with a public square, shops, cafes and improved transport links providing wider community benefit.  Inland Homes estimates 1,000 new jobs will be created on the completed site, with an addition 250 workers needed during construction. 

Inland Homes’ Chief Executive Stephen Wicks commented:

“Inland Homes is thrilled be playing a key role in one of the largest regeneration projects in the South East, working with Broxbourne Borough Council to transform this former industrial site into a thriving residential and business community that helps meet the demand for high-quality, affordable homes in the area.

“Cheshunt Lakeside is the largest planning approval obtained by Inland Homes since its incorporation and, together with the recent resolution for planning permission at Wilton Park, marks a major milestone for the business.

“The approval of these sites demonstrates the success of Inland Home’s strategy of acquiring quality land in areas of high-demand, using our expertise and experience to navigate the complex approvals process and adding value through a mix of selective in-house development and turnkey solutions for our development partners.”