RCS - Boot(Henry) PLC - Henry Boot Completes Sales of 365 Plots

Henry BootAnnouncement

23/01/2025 07:00

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RNS Number : 3391U  Boot(Henry) PLC  23 January 2025

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 The appeal was made on the basis that Swale Borough Council's outdated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 (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

0207 260 1000

 

Peel Hunt LLP

Joint Corporate Broker

Ed Allsopp / Pete Mackie

0207 418 8900

 

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