RCS - Boot(Henry) PLC - HENRY BOOT COMPLETES SALE OF 1,855 PLOTS

Henry BootAnnouncement

09/03/2023 07:00

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RNS Number : 3200S  Boot(Henry) PLC  09 March 2023

 

 

 

09 March 2023

HENRY BOOT PLC

('Henry Boot' or 'the Group')

HENRY BOOT COMPLETES SALE OF 1,855 RESIDENTIAL PLOT SITE, ENABLING DELIVERY OF
NEW HOMES IN MILTON KEYNES

 

Henry Boot PLC announces that its land promotion and planning business, Hallam
Land Management (HLM), has completed on the sale of a 1,855-plot site in
Milton Keynes to national housebuilder Taylor Wimpey UK Ltd.

 

HLM had an Option Agreement in place jointly with William Davis Homes and
Taylor Wimpey UK Ltd for the long-term promotion of the land, benefitting from
a discount to market value. HLM's interest in the land accounted for 618
plots, with the remainder of the sale held by William Davis Homes. The
transaction has resulted in an ungeared internal rate of return for Henry Boot
of 14.0% p.a.

 

The 342-acre site is located to the South West of Milton Keynes, below the
A421 between Bletchley and Newton Longville. Positioned around seven miles
outside of the centre of Milton Keynes, a series of public transport
improvements are set to further enhance the site's connections to the
surrounding area. Alongside 1,855 homes, of which 30% will be affordable, the
site will feature 6.5 acres of employment land, a primary school, secondary
school and a neighbourhood centre including retail and community buildings.
Over 130 acres of green infrastructure will be delivered across the site,
providing extensive play spaces, sports facilities and benefitting air quality
and local ecology.

 

The site forms part of the South West Milton Keynes Consortium and approval
was required from both Buckinghamshire Council and Milton Keynes Council. The
cross-boundary scheme was granted approval in December 2022. An extensive
Section 106 package will provide funds towards facilities and services
benefitting both authorities, including Milton Keynes hospital,
Buckinghamshire education services, extensive offsite highway works and new
public transport infrastructure together with substantial pedestrian links.

 

Tim Roberts, CEO of Henry Boot PLC, commented, "The sale of this site to a
leading national housebuilder continues to demonstrate the benefit of working
with Hallam Land Management to navigate complex planning arrangements and
manage multiple stakeholders. This latest transaction represents a strong
start to 2023, while the ongoing demand for new homes presents a significant
opportunity for Henry Boot's land promotion business. The team brings deep
expertise in masterplanning and is able to ensure that strategically important
sites can deliver a range of housing tenures, amenities and infrastructure
improvements to the benefit of new and existing communities."

 

 

 

-Ends-

 

Enquiries:

 

FTI Consulting

Ph: 020 3727 1000

Email: henryboot@fticonsulting.com (mailto:henryboot@fticonsulting.com)

 

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Chief Financial Officer

Daniel Boot, Group Communications Manager

Tel: 0114 255 5444

www.henryboot.co.uk

 

Numis Securities Limited

Joint Corporate Broker

Ben Stoop

Tel: 020 7260 1000

 

Peel Hunt LLP

Joint Corporate Broker

Charles Batten/Harry Nicholas

Tel: 020 7418 8900

 

About Henry Boot PLC

 

Henry Boot PLC (BOOT.L) was established over 135 years ago and is one of the
UK's leading and long-standing property investment and development, land
promotion and construction companies. Based in Sheffield, the Group is
comprised of the following three segments:

 

Land Promotion:
Hallam Land Management Limited
(http://www.henryboot.co.uk/our-businesses/hallam-land-management/)

 

Property Investment and Development:
Henry Boot Developments Limited (HBD)
(http://www.henryboot.co.uk/our-businesses/hbd/) , Stonebridge Homes Limited
(http://www.henryboot.co.uk/our-businesses/stonebridge-homes/)

 

Construction:
Henry Boot Construction Limited
(http://www.henryboot.co.uk/our-businesses/henry-boot-construction/) , Banner
Plant Limited (http://www.henryboot.co.uk/our-businesses/banner-plant/) , Road
Link (A69) Limited (http://www.henryboot.co.uk/our-businesses/road-link-a69/)

 

The Group possesses a high-quality strategic land portfolio, a proven
reputation in the property development market for creating places with
purpose, backed by a substantial investment property portfolio and an
expanding, jointly owned, housebuilding business. It has a construction
specialism in both the public and private sectors, a plant hire business, and
generates strong cash flows from its PFI contract, Road Link (A69) Limited.

 

www.henryboot.co.uk (http://www.henryboot.co.uk)

 

 

 

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