Inland Homes has confirmed that Drayton Garden Village Ltd has exchanged contracts with a substantial private house builder for the sale of 88 apartment plot for a minimum of £5.75m.
Inland - - which specialises in buying brown field sites and enhances their value by obtaining planning permission before selling consented land on to developers - said that a 10% deposit had already been paid.
Completion of the sale is scheduled for 4 January.
Further sale proceeds may be receivable based on the house builder exceeding the revenue from completed units beyond an agreed threshold.
At 8:12am: (LON:INL) share price was +0.75p at 16.5p
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