Inland's clear strategy has delivered growth and a number of outstanding projects over the last year. We have maintained existing relationships and developed new ones, and refined our housebuilding capabilities so that we continue to compete with other housebuilders. However, we have still retained the essence of what makes us unique.

Description

Purchases range from tactical acquisitions of sites which open up the potential of neighbouring land, to areas which will become key housebuilding terrain in the future, to sites ready for immediate development. All of these purchases are funded by our careful financial strategy, which balances loan finance, joint venture funding and equity released from operations.

Progress over past year

  • Increase in the size of the land bank since the last annual report despite the sale of 780 land bank plots and 188 homes
  • Planning permission or resolution to grant planning permission obtained on 1,856 plots during the year

Focus for the future

Continue to secure more planning consents and acquire sites with excellent potential to add value

Connected KPI

  • Number of plots with or without planning consent
  • Planning permissions gained during the year

Description

As our planning team adds value to land through securing planning permission, we are able to make attractive short term returns through land sales to developers. In this strong housebuilding climate there is high demand for quality land, so our strategy means that we are well poised to take advantage of this and generate strong revenue streams and cash flow to fund our land buying and development programme.

Progress over past year

  • 780 plots with planning permission sold during the financial year
  • 2,137 plots with planning permission in land bank
  • Applications for planning permission submitted on a further 827 plots

Focus for the future

Selective disposal of sites to other developers

Connected KPI

  • Number of plots with or without planning consent
  • Planning permissions gained during the year
  • Total residential plots sold

Description

Having proved our credentials as a quality housebuilder with award-winning developments such as Meridian in Southampton and Carter's Quay in Poole, we continue to build momentum and develop our quality portfolio. Our housebuilding capabilities have bolstered our reputation and attracted some significant partnerships, for example the project in Chapel Riverside, Southampton.

Progress over past year

  • Investment in staff to increase the level of construction expertise within the Group
  • We have 427 residential units under construction across 12 sites (including 43 within a joint venture)

Focus for the future

Our speculative and Partnership Housing developments are expected to increase in number

Connected KPI

  • Total residential units sold

Description

Our varied range of financing options gives us flexibility. Our business plan includes the sale of consented land, which we can tailor to our cash flow requirements. Additionally, we have a bank of properties, which are providing a steady stream of rental income and cash that contributes to fund our overheads.

Progress over past year

  • Net gearing at 52%
  • Cash balances of £26.5m
  • Gross borrowings of £94.5m

Focus for the future

The Group is focussed on keeping its net borrowings to below 40% net EPRA gearing (defined as loans and accrued ZDP liability less cash as a proportion of EPRA net asset value)

Connected KPI

  • Net gearing