Inland Homes has created a housing association and a modular temporary accommodation arm as it looks to diversify its business streams.
The developer said that while profits and revenue were up for existing products, the soft London market and uncertainty around Help to Buy meant it would continue to diversify its offering.
Alongside its housebuilding and land sales arms, the group created Rosewood Housing in August 2018. The wholly owned subsidiary is a registered provider of for-profit social homes, and Inland says it will look to generate income from the “staircasing” of shared ownership homes.
Inland says it could search for an institutional partner to help scale up the business.
It has also created Hugg Homes, to provide temporary modular accommodation on sites without planning for homeless families.
It says more than 100,000 homeless families in England will be living in temporary accommodation soon, and Hugg can use land that would be otherwise inactive during the planning process to enable “pop-up” developments in key locations.
The first temporary consents have been secured in Southampton, Hampshire, and Cheshunt, Hertfordshire, for a total of 76 units, with the first installation to be complete by the end of 2018.
Chief executive Stephen Wicks said: “Inland Homes has always taken an entrepreneurial approach to the growth of the business and we have a history of looking at things differently, focusing our efforts on finding and creating new opportunities where they seldom existed before.”
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