RCS - Boot(Henry) PLC - HENRY BOOT EXCHANGES ON LAND SALE IN COVENTRY

Henry BootAnnouncement

17/03/2023 07:00

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RNS Number : 2863T  Boot(Henry) PLC  17 March 2023

 

17 March 2023

HENRY BOOT PLC

('Henry Boot' or 'the Group')

HENRY BOOT EXCHANGES ON RESIDENTIAL LAND SALE IN COVENTRY

Henry Boot's land promotion and planning business, Hallam Land Management
(HLM), announces that it has exchanged on the sale of a 250-plot 31-acre site
in Eastern Green, Coventry to mixed-tenure developer Countryside Partnerships.

 

Eastern Green comprises a Sustainable Urban Extension on the west side of
Coventry. The 31-acre site, contracted under a Planning Promotion Agreement by
HLM in 2015, forms the first phase of a wider 353-acre site, for which HLM
acted on behalf of the landowners to secure planning permission and associated
infrastructure for the scheme.

 

The wider Eastern Green development achieved outline planning permission in
2021 for the delivery of a new community comprising 2,400 new homes, of which
25% will be affordable, 37 acres of employment land, a new primary school,
district and local community centres, a transport hub and extensive open
spaces and play facilities. Additional community benefits will also include
transport related measures and incentives to encourage greater use of
alternative travel modes, with two dedicated busways across the site being
funded, that link up with Coventry City Council's wider bus network, while
mobility vouchers will be provided to all plot occupiers. The scheme also
involves a new junction on the A45 dual carriageway for which HLM secured
funding through the Homes England HIF process.

 

The transaction is due to complete by end of March 2023, with a payment
profile extending to January 2025. HLM will take a percentage of the sale
proceeds plus significant recovery of costs for promoting both phase one and
the wider project. The disposal contributes towards HLM's annual sales target
of 3,500 plots.

 

Tim Roberts, CEO of Henry Boot PLC, commented: "This disposal demonstrates a
robust demand for HLM's strategic land plots from leading housebuilders who
recognise the benefits in utilising our team's industry leading expertise in
resolving increasingly complex planning matters. HLM's unique masterplanning
capabilities have the proven ability to create significant value whilst
bringing forward new homes, employment facilities and community spaces in
undersupplied areas of the UK."

 

-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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