AIM listed specialist house builder and brownfield developer – Inland Homes – has announced two sales valued at £52.8m to two Build to Rent Funds at its Centre Square and Buckingham House developments in High Wycombe, demonstrating the attractiveness of the brownfield regeneration specialists’ assets within this growing market.
A new boutique Build to Rent brand – Kooky – which is part of the Delph Property Group has acquired Inland Homes’ Buckingham House development in High Wycombe. The development includes 85 units purchased at £21.3m – and adds to Kooky’s growing portfolio of branded Build to Rent properties in key locations around London and the commuter belt.
The second – Centre Square development in High Wycombe – which included 123 units was sold by Inland Homes for £31.5m.
“‘Taking up the opportunity to work with Inland Homes proved to be a fluid acquisition from agreeing the deal through to exchange. The team at Inland were always on hand during the legal process. We are excited about our first Kooky rental building in High Wycombe and further deals to come with Inland Homes.”Nicholas Belkin, Head of Acquisitions, Kooky
Inland Homes pride itself on the flexibility in its business model to seize new market opportunities and its move into the rapidly growing Build to Rent market evidences this. The company committed to making a move into this space in 2019 and subsequently stated it was a priority for 2020. Unlike others, Inland Homes offers both the land and build capability – making the company an attractive proposition to prospective investors.
“We have a substantial number of sites which are suitable for rental housing and as we reported in last year’s accounts, securing Build to Rent opportunities has been a priority for the Group this year.
“We are delighted therefore to announce these latest land sales at Centre Square and Buckingham House to two highly-respected operators in this market. As these deals evidence, and following the completion of land sales at Wilton Park and Cheshunt Lakeside, there is sustained demand from investors, housing associations and other developers for our high-quality land assets and our build expertise.
This is particularly pleasing and a testament to the Group when considered against the ongoing global Covid-19 economic uncertainty.”Stephen Wicks, Chief Executive, Inland Homes