Henry Boot Completes Sales of
365 Residential Plots to Mulberry Homes & Taylor
Wimpey
Henry Boot (or the "group")
announces today that Hallam Land (Hallam), the group's land
promotion and planning business, has completed the sale of 75
residential plots in Ambrosden, Oxfordshire and a further 290
residential plots in Sittingbourne, Kent to housebuilders Mulberry
Homes and Taylor Wimpey, respectively.
The first transaction Hallam has
completed is the £6.8 million sale of a freehold site with planning
permission for 75 homes in Ambrosden, Oxfordshire, to the
housebuilder Mulberry Homes. The sale resulted in an ungeared
internal rate of return for Henry Boot of 19% per annum.
Hallam acquired the site in 2014,
before promoting the land through the planning process. In December
2023, an outline planning consent was secured for the homes as well
as a 12-acre community woodland, local highway improvements and a
children's play area.
Hallam retains freehold ownership of
an adjacent site totalling 20.6 acres for future promotion through
the planning process.
The sale of 290 residential plots
has also been completed in Sittingbourne, Kent to national
housebuilder Taylor Wimpey, which resulted in an ungeared internal
rate of return for Henry Boot of 40% per annum.
In 2017, Hallam agreed a promotion
agreement for the site before submitting an outline application in
November 2022. Hallam successfully secured planning consent on an
appealed decision in July 2024, following an initial refusal in
2022. The appeal was made on the basis that Swale Borough Council's
outdated development plan could not demonstrate a five-year housing
land supply which in turn was failing to meet the area's housing
needs.
In addition to the 290 homes, of
which 30% are affordable, the site also includes new landscaping,
habitat creation, and publicly accessible green infrastructure,
with a 100% Biodiversity Net Gain for surrounding
habitats.
Tim
Roberts, CEO at Henry Boot, commented: "Our latest residential plot sales to Mulberry Homes &
Taylor Wimpey reaffirm the continued success of our land promotion
business, benefitting from the government's commitment to planning
reform, as well as the ongoing appetite from national and regional
housebuilders for well located, permitted land.
The delivery of much needed new
homes across these regions, as well as the planning consent gained
for significant green infrastructure and spaces, will transform the
local area and community."
A trading update for the twelve
months ending 31 December 2024 is scheduled for release on Tuesday,
28 January 2025.
ENDS
Notes
to editors
Henry
Boot is one of the UK's leading land, property development, home
building and construction businesses - and we've been transforming
land and spaces since 1886. Listed on the London Stock Exchange
since 1919, we're renowned for quality, expertise, delivery and a
partnership approach across the group - which comprises, Hallam
Land, HBD, Stonebridge, Henry Boot Construction, Banner Plant and
Road Link.
Operating
across the UK, and employing over 500 people, we focus on three key
markets: urban development, industrial and logistics and
residential. Hallam Land has facilitated 52,000 new homes since
1990, managing one of the top five largest land portfolios in the
country, with the potential to facilitate over 100,000 homes. HBD
manages a development pipeline of £1.3bn, the equivalent of 7m sq
ft of developments across our key markets, while maintaining a
£113m investment portfolio, of which 73% of the properties have an
EPC rating of 'C' or higher. Stonebridge, our jointly owned home
building business, manages a land portfolio capable of delivering
1,500 homes, with an ambition to deliver up to 600 new homes a
year.
Henry
Boot Construction has extensive experience in both the public and
private sectors, including major projects such as the £200m
regeneration of Barnsley town centre, and The Cocoa Works, a £57m
residential development in York. For over 65 years, Banner Plant
has supplied construction products and services, operating from
seven regional depots in the North of England.
We
have also developed an ambitious Responsible Business Strategy to
help us meet our aim of being Net Zero Carbon by 2030, and to
deliver, by 2025, charitable, community and education work valued
at £1m.
From
land promotion, property development and investment to home
building, construction and plant hire, Henry Boot is where great
places start.
henryboot.co.uk
Enquiries
FTI
Consulting
Richard Sunderland/Giles
Barrie
07894 797067 / 07798
926814
henryboot@fticonsulting.com
Henry Boot PLC
Tim Roberts, Chief Executive
Officer
Darren Littlewood, Chief Financial
Officer
Daniel Boot, Senior Corporate
Communications Manager
07825 088807
dboot@henryboot.co.uk
henryboot.co.uk
Deutsche Numis
Joint Corporate Broker
Ben Stoop
0207 260 1000
Peel Hunt LLP
Joint Corporate Broker
Ed Allsopp / Pete Mackie
0207 418 8900