Registration as a provider of social housing was secured by Inland Homes’ subsidiary Rosewood Housing following a two-year qualification period.
It gives Inland Homes the authorisation to build new homes on more of its sites once planning consent has been received. The company will develop, hold and manage Section 106 homes, comprising a blend of shared ownership and social housing units for rent, that need to remain within the regulated sector while owned by a registered provider.
The company said that it expects to make money from shared ownership ‘staircasing’, where residents can buy further shares in their property once they have lived in it for a certain period.
Inland Homes is one of the first UK publicly listed companies to attain registered provider status, as it looks to build an affordable housing portfolio through the construction of new units at both its existing and future schemes.
The company said that once it has achieved critical mass in this specialist sub-sector, it will look to partner with an institutional investor to fund further growth.
Chief executive Stephen Wicks said: “This is a significant milestone for Inland Homes, which will accelerate our drive into the provision of much needed affordable housing in the south and southeast of England, continuing the expansion and diversification of our revenue streams. Through our current partnership housing activities, the team now has a wealth of experience and knowledge of the UK social housing sector and this approach will complement our develop-to-sell strategy, leveraging the capabilities of our rapidly growing in-house construction division."