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Henry Boot completes sale of 365 residential plots



Henry Boot has completed the sale of 365 residential plots to both Mulberry Homes and Taylor Wimpey.


Both sales have been completed by Hallam, Henry Boot’s land promotion and planning business.

The first transaction, completed for £6.8m, regards a freehold site with planning permission for 75 homes in Ambrosden, Oxfordshire. This has been sold to Mulberry Homes at an ungeared internal rate of return of 19% per annum.

Hallam originally acquired the site in 2014 before progressing it through the planning process. The business is retaining freehold ownership of an adjacent 20.6-acre site for future promotion.

The second transaction regards a site in Sittingbourne Kent, which has been sold to Taylor Wimpey with an ungeared internal rate of return of 40% per annum.

Hallam has previously successfully appealed planning permission obstruction on the site, since initially acquiring it in 2017.

“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,” said Tim Roberts, CEO at Henry Boot.

“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.”



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