Boot(Henry) PLC HENRY BOOT AGREES SALE OF 75 RESIDENTIAL PLOTS

RNS Number : 6245R

Boot(Henry) PLC

11 June 2024

 

 

11 June 2024

HENRY BOOT PLC

('Henry Boot' or 'the Group')

HENRY BOOT AGREES SALE OF STRATEGIC LAND SITE IN OXFORDSHIRE

Henry Boot announces that its land promotion and planning business, Hallam Land Management (Hallam), has unconditionally exchanged on the sale of a freehold site with planning permission for 75 homes in Ambrosden, Oxfordshire to housebuilder, Mulberry Homes.

 

Hallam acquired the site in 2014, before promoting the land through the planning process, with a planning application strategically submitted in July 2022. Hallam then secured outline planning consent, in December 2023, for a total of 75 homes as well as a 12 acre community woodland. The consent also includes local highways improvements, green infrastructure and a children's play area.

 

The sale is anticipated to complete H2 2024, with the transaction resulting in an ungeared internal rate of return of 19% p.a. In addition, Hallam retains freehold ownership of an adjacent site totalling 20.6 acres for future promotion through the planning process.

 

Tim Roberts, CEO of Henry Boot, commented: "The recent site sale to Mulberry Homes underscores both our land promotion business's expertise in securing planning permission for complex sites and the continued demand from housebuilders, who are showing encouraging levels of interest for sites in our prime portfolio. As a result of Hallam's efforts, 75 new homes can now be delivered in an area of acute housing shortage, and we have also been able to generate attractive returns for our shareholders."

 

-ENDS-

Enquiries:

 

FTI Consulting

Richard Sunderland/Giles Barrie

Tel: [phone]

Email: [e-mail]

 

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Chief Financial Officer

Daniel Boot, Senior Corporate Communications Manager

Tel: [phone]

www.henryboot.co.uk

 

Deutsche Numis

Joint Corporate Broker

Ben Stoop

Tel: [phone]

 

Peel Hunt LLP

Joint Corporate Broker

Ed Allsopp / Pete Mackie

Tel: [phone]

 

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

 

Property Investment and Development:
Henry Boot Developments Limited (HBD), Stonebridge Homes Limited

 

Construction:
Henry Boot Construction Limited, Banner Plant Limited, Road Link (A69) Limited

 

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

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

NRAUBOWRSWUNRRR