The facility – which has a term of four years – is on improved terms compared with the existing facility with Barclays Bank.
The brownfield developer made this announcement during its January trading update.
- Brownfield developer reports record residential plot sales
- Inland Homes registered as social housing provider
- Aviva Investors and M&G Investments provide £100m refinancing to Urbanest
"The more than doubling of our debt facilities – on improved terms – provides a strong platform to fund our housebuilding output and complete our transition from a business that was largely focused on land trading towards our stated target of delivering 1,000 homes per annum across private and partnership housing,” said Stephen Wicks, group chief executive at Inland Homes (pictured above).
“While our model is still focused on our core land and planning skills, the ability through our construction operations and other business lines to be a partner of choice for housing associations, PRS funds, local authorities and other key stakeholders is expected to underpin further improvement to our housebuilding margins through increased scale.”