IM Land celebrates successful first year
Britain’s newest strategic land operator has marked its first anniversary with an impressive 12,000 plots under its control and a further 7,000 plots in legals.
IM Land was established by its corporate parent, Midland-based IM Properties (IMP) – to identify, acquire and promote land, which through a partnership approach could be developed into sustainable new mixed-use communities.
“Essentially we aim to help land-owners unlock the potential of their assets via a disposal on a freehold basis or by guiding them through the complexities of our planning system under a strategic land agreement,” states strategic land director, Jonathan Dyke.
“It was clear that the traditional approach to housing delivery wasn’t providing the numbers necessary, and having put together a team of leading professionals from the housing industry, we believed we could bring together local authorities, housebuilders, occupiers and development partners to unlock even the most challenging sites and more critically help deliver economic growth for regions.”
Jonathan is extremely encouraged by the achievements of IM Land’s first trading year, given both the ongoing issues in the housing market, and the wider Brexit-related economic and political uncertainties.
“To end our first year with 12,000 plots, across seventeen sites which we own, control, or are in partnership on, was a tremendous outcome. We’ve got a good spread in locations such as Bath, Maidenhead, Stratford-Upon-Avon, Warwick and Wycombe and outline planning on nearly 1500 homes across two key sites in Solihull and Lichfield, which we look forward to bringing to the market.
“We’ve added another 644 acres to our portfolio during the year by exchanging on a further ten strategic sites and seen our first school delivered in Bath as a result of our partnership approach. We also have another ten strategic sites soon to be exchanged, and are actively seeking further opportunities across the wider West Midlands, and South East and South West where we’ve made a particular focus over the past year. “
Tim Wooldridge, managing director of IM Properties is also pleased with IM Land’s performance and recognizes the track record and financial resources of IMP are proving a major catalyst for progress.
“We’ve already got a good track record for delivering complex development schemes and new employment opportunities in the Midlands, with high profile projects such as Blythe Valley Park, Birch Coppice, The Hub and Mell Square Shopping Centre injecting some measurable economic growth into the region.
“Our ability to take a long term view and understand the bigger picture has led us naturally to look at the strategic land market. The fact that we are cash rich and agile enables us to get in position quickly and secure opportunities ahead of the competition.
“We’ve always said we want our schemes to provide a lasting legacy and by delivering best in class in all that we do, we are able to navigate the complex planning system providing schemes that stand up to scrutiny and deliver real opportunities for communities in which we work.”