The group also completed 275 open market homes, up from 188 in 2017, at an average sales price of £293,000, down from the £306,000 reported last year.

Inland generated revenues of £147.4m, an increase of 62.5% on the previous year, leading to a profit before tax of £19.3m, up from £18.1m.

The company also recorded its largest-ever planning application submission for 1,853 homes and in excess of 18,000m2 of commercial space at Cheshunt Lakeside (pictured above). 

Inland said 682 homes were under construction, including 220 partnership housing units, and that it was on course to meet its target of delivering 1,000 homes per year by 2021.

Stephen Wicks, chief executive at Inland Homes, said it had been another strong year for the group as it looked to move towards a more robust, diversified and adaptable model.

•   Inland Homes registered as social housing provider
•   Inland Homes submits plans for 1,853-home project
•   Harworth Group purchases major regeneration site

“Furthermore, our margins on new developments for open market sale are expected to increase as the expansion in our in-house build capacity results in additional buying power and general efficiencies within the supply chain. 

“Revenues are being generated from housebuilding, brownfield site regeneration, land sales [and] partnerships with housing associations, while at the same time we are growing our exposure to the private rented sector and social housing. 

“Despite potential political and regulatory headwinds, the overall health of the sector is positive, particularly the part of the market in which we operate and where we believe there will continue to be ongoing support for the products that we are offering. 

“Our priority is to build on the strong financial performance during the period and – with a significantly enlarged, highly qualified team in place – we believe we are now in a position to effectively manage this increasingly broad range of activity and to meet our growth ambitions for Inland Homes.”