Brownfield site group highlights issues as it announces annual results
Inland Homes took aim at the UK鈥檚 planning system today, labelling it 鈥渃umbersome鈥�, as the brownfield site specialist revealed an annual pre-tax profit of 拢18.1m, up 15% on 2016鈥檚 restated numbers.
The group said that more moderate house price inflation and the government鈥檚 鈥楬elp to Buy鈥� scheme ought to help buyers be able to afford its homes in the near term, while stabilising build cost inflation should underpin its margins.
But it added: 鈥淭he planning system remains extremely slow and cumbersome with clearance of pre-start planning conditions being a major issue.鈥� It also warned that the ongoing shortage of skilled labour 鈥渃ontinues to be an area of concern鈥�.
Inland Homes reported turnover of 拢90.7m for the 12 months ending 30 June 2017, down 11% on 2016鈥檚 restated revenue of 拢101.9m.
It sold 188 private units, up 28% year-on-year, at an average price of 拢306,000, down from 拢337,000 in 2016. The firm said the lower price reflected a shift away from houses to flats.
The group鈥檚 land bank numbered 6,936 plots, up 4% year-on-year, with nearly a third of the portfolio having planning permission or a resolution to grant planning consent, it said.
Inland Homes recently announced it had submitted a planning application to develop 350 homes at its Wilton Park site in Buckinghamshire (pictured).
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