Social housing boost for developer
- Published: 17 July 2008 17:28
- Author: David Rogers
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- Last Updated: 17 July 2008 17:30
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The company formed by Stephen Wicks, the former chief executive of house builder Country & Metropolitan, has said housing associations are propping up the business.
Inland buys up brownfield sites and sells them on with planning permission. The Stock Exchange quoted firm had originally been set up to target the private housing market.
But in a trading update, the firm said: "Whilst our main target market was anticipated to be private house builders, it is now clear that this market will remain weak for some time.
"However, housing associations, who have remained active, are now the primary buyers for residential land."
Since its last market update in June, the firm has sold 60 plots with 47 for social housing.
