Companies: INL   

This month, Gall & Eke Corporate Partners shines the light on the prospects at land bank company Inland.

The AIM-quoted venture specialises in brownfield sites and recently announced that it had received planning permission (subject to signing a legal agreement with Rushmoor Borough Council) for its 24.5 acre site in Farnborough.

The site was acquired from the Ministry of Defence for £21.5 million in August 2006. Gall & Eke points out that Inland, whose market capitalisation is £85 million, has a portfolio that, post-planning permission, will have an estimated gross development value of £340 million.

Wicks to light up Inland
‘Chief executive Stephen Wicks steered Country & Metropolitan through a share price compound annual growth rate of 31.5 per cent from December 1999 to May 2005,’ the broker writes, ‘and we feel Wicks will continue his impressive performance with Inland.’ Inland obtains planning consents for its sites and Gall & Eke asserts that net asset value per share estimates ‘are as high as 80p, which is a substantial premium to the current 46p share price.

‘With the demand for houses in the UK projected to rise by 210,000 per annum and only 160,000 homes planned for construction due to current planning restraints, the disequilibrium created should facilitate continued support for the South East-based UK housing market, offering great opportunities for Inland’.

Inland	AIM	£11.66m	7.25p	-0.50p
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Other company articles:
Inland			17/03/2008
Inland upbeat			14/12/2007
Gall & Eke Corporate Partners			30/10/2007
Inland			02/10/2007
How to play the AIM property boom			02/07/2007