RCS - Boot(Henry) PLC - 300 plots secured for planning and sale

Henry BootAnnouncement

10/04/2025 07:00

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RNS Number : 3921E  Boot(Henry) PLC  10 April 2025

Henry Boot secures outline planning consent and simultaneously agrees sale of
300 residential land plots in Nottinghamshire

 

Henry Boot's land promotion and planning business, Hallam Land ("Hallam"), has
won an appeal to secure outline planning permission for 300 homes in
Sutton-in-Ashfield, Nottinghamshire, and has simultaneously unconditionally
exchanged contracts on a sale to Harron Homes.

 

In 2012, Hallam entered into an initial planning promotion agreement with the
landowners. A planning application was first submitted in 2017, followed by a
resubmission in 2022. Ashfield District Council failed to make a decision on
the application, which led Hallam to appeal in July 2024 based on
non-determination. The appeal was successful, resulting in the full approval
in February 2025. The appeal inspector also determined that the Council's
unreasonable behaviour justified Hallam receiving a full award of costs.

 

In July 2024, Hallam exchanged contracts with Harron Homes for the sale of the
site, which was conditional upon securing outline planning. The deal is now
unconditionally exchanged and is set to complete in 2026. The transaction is
expected to result in an ungeared internal rate of return of 16% p.a.

 

The planning consent for the site includes 300 homes, as well as new
landscaping, habitat creation, and seven acres of public space. The
Biodiversity Net Gain calculation forecasts a 12% net gain for surrounding
habitats.

 

Hallam currently has active appeals on five other sites, totalling around
2,500 residential plots.

 

Tim Roberts, CEO at Henry Boot, commented: "Securing this planning consent on
appeal marks a significant milestone in the positive changes which are being
made to the UK's planning system under the current government. Hallam has
achieved planning on approximately 3,000 plots over the past six months, and
we seek to take advantage of the improving planning system by submitting
10,000 plots over the next 12 months to deliver much-needed homes across the
country and also deliver returns for our shareholders."

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 Homes, 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 manages 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 £1.2bn, the equivalent of 6m sq ft of developments across our key
markets, while maintaining a £107m investment portfolio, of which 72% 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 1,700
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 (http://www.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 / Tom Philpott

0207 260 1000

 

Peel Hunt LLP

Joint Corporate Broker

Ed Allsopp / Pete Mackie

0207 418 8900

 

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