31 May 2018
KCR Residential REIT announces that it has established a strategic relationship the ("Agreement"), with Inland Homes ("Inland"), the leading brownfield regeneration specialist and housebuilder with a focus on the South and South-East of England, to support the delivery of high quality, low-to-mid-priced housing for rent.
As part of the Agreement, Inland and KCR have identified an initial pipeline valued in excess of £100 million from within Inland's current portfolio, comprising investment properties, units under construction and land with planning consent. Through these transactions, Inland intends to build a long term minority shareholding in KCR, providing Inland with exposure to the UK's fast-growing Private Rented Sector ("PRS").
The Agreement supports KCR's investment strategy of building a low-to-mid-priced residential rental portfolio focused on city and town centres across the UK and provides a platform for Inland and KCR to establish a long-term, mutually beneficial relationship.
Dominic White, chief executive of KCR, said: "Our strategic relationship with Inland creates a synergy that will allow both parties to accelerate their respective commercial prospects and deliver greater shareholder value.
At the same time, we will be able to use Inland's construction capabilities in relation to new-build and refurbishment projects across KCR's current and future assets. We look forward to progressing the relationship and having Inland as one of our cornerstone investors."
Stephen Wicks, chief executive of Inland Homes, added: "This potential investment will provide us with exposure to the fast growing PRS sector at an attractive entry point, alongside a dynamic and ambitious management team. It offers the potential for Inland shareholders to be beneficiaries of the synergies that this agreement would create, and alongside our established regeneration expertise and rapidly expanding residential development activities, sees the business further broaden its UK residential sector exposure."
|KCR Residential REIT plc
Dominic White, Chief executive
+44 20 3793 5236
|Arden Partners plc
|+44 20 7614 5917|
|Yellow Jersey PR
|+44 7747 788 221
+44 7555 159 808
Notes to Editors:
About KCR Residential REIT plc:
KCR's objective is to build a substantial UK low-to-mid-priced rented residential property portfolio that generates both secure income flow and increasing net asset value for shareholders. KCR acquires blocks of studio, one- and two-bed apartments that are close to transport links, shopping and leisure.
About Inland Homes:
Incorporated in 2005, Inland Homes plc is an AIM-listed specialist housebuilder and brownfield developer, dedicated to achieving excellence in sustainability and design.
Inland Homes acquires brownfield land in the South and South-East of England principally for residentially led development schemes. The business then enhances the land value by obtaining planning permission, before building open market and affordable homes or selling surplus consented land to other developers to generate cash.
The Company is committed to extensive public and community consultation in order to ensure that, where possible, local community needs and objectives are met.
Inland's aim is to create sustainable communities and homes which set a benchmark for all future developments in the South of England. The Company is always looking for brownfield sites without planning permission for future development.
For further information, please visit the Inland Homes website at www.inlandhomes.co.uk.