Residential units under construction
Where inland are currently building
Inland's clear strategy has delivered growth and a number of outstanding projects over the last year. We have maintained existing relationships and developed new ones, and refined our housebuilding capabilities so that we continue to compete with other housebuilders. However, we have still retained the essence of what makes us unique.
We will continue to flourish by focusing on our four key strategic goals:
Increase the size of our land bank year on year
Continue the core activity of plot sales to other developers to generate cash to fund our operations
Maximise the value from our land bank by expanding our housebuilding programme
Maintain borrowings at a manageable level through a strong focus on cash management and vendor financing
Our strong land team continues to focus on increasing the size of the land bank. With the recent introduction of our Strategic Land Team, the purchases now range from sites ready for immediate development, to tactical acquisitions of sites which open up the potential of neighbouring land, to areas which will become key housebuilding terrain in the future. All these purchases are funded by our careful financial strategy, which balances loan finance, joint venture funding and cash released by sales of other sites and completed residential units.
As our planning team adds value to land through achieving planning permission, we are able to make attractive short term margins through sales to developers. In this strong housebuilding climate there is high demand for quality land, so our strategy means that we are well poised to take advantage of this and generate strong revenue streams to feed back into our land buying programme.
Having proved our credentials as a quality housebuilder with award-winning developments such as Drayton Garden Village and Carter's Quay, we continue to build momentum and develop our quality portfolio. We currently have 223 residential units under construction across nine sites and this is likely to increase in the medium term. This will in part be achieved by our move towards undertaking larger projects. Our housebuilding capabilities have bolstered our reputation and attracted some significant partnerships, for example the project in Chapel Riverside, Southampton.
Lastly, our varied range of financing options gives us flexibility. Our business plan includes the sale of consented land, which we can tailor to our cash flow requirements. Additionally, we have an increasing bank of properties, which are providing a steady stream of rental income and cash that contributes to our overheads.