Inland Homes has sold a 100-acre plot in Beaconsfield, Buckinghamshire, to Beechcroft Developments for £19.1m.
The sale of Wilton Park to the care home and retirement living operator will only go through if planning is granted, and both parties will work closely over the coming months to submit an application.
The 100-acre site already has outline planning for 304 new homes together with 46 retained homes, which was granted in 2019. Inland Homes has subsequently sold 184 plots to private housebuilder Bewley Homes.
Inland Homes retains ownership of the remaining 120 plots with outline planning approval, valued at £90m.
Chief executive Stephen Wicks said: “The group’s high-quality land assets continue to remain in strong demand as reflected by the conditional phase sale of part of Wilton Park, Beaconsfield. We continue focusing on positive cash generation, while making further reductions in net debt, our key strategic priority, as well as generating cash to reinvest in our extensive operations.”
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