Boot(Henry) PLC Henry Boot completes GBP2.6m residential land sale
June 08 2021 - 1:00AM
RNS Non-Regulatory
TIDMBOOT
Boot(Henry) PLC
08 June 2021
08 June 2021
HENRY BOOT PLC
('Henry Boot' or 'the Group')
Henry Boot completes GBP2.6m residential land sale with Barratt
Developments
The Group's land promotion business, Hallam Land Management
(HLM), has completed the sale of 116 plots to national housebuilder
Barratt Developments at a total price of GBP2.6m. The site is
located in Burdiehouse, on the edge of Edinburgh and represents the
third in a series of completions on the site, which in total has
now sold 449 plots in three separate phases for a total price of
GBP12.8m.
The 75-acre site was first contracted under option in 2006 and
after a period of sustained promotion through the City of Edinburgh
Local Plan review process, the land was partially granted Planning
in Principle for approximately 100 houses in February 2012. The
site was subsequently purchased in Autumn 2012 whilst negotiations
on a planning gain package were still ongoing. Additional community
benefits included within the planning gain package are
contributions towards new cycle path networks and a healthcare
facility.
After purchasing the freehold, the first phase was marketed and
sold to Barratt Developments in 2013, with subsequent phases sold
through to this year. The first phase was granted outline consent
for 122 houses in June 2012 and was sold in 2013. After which, a
further Phase 2 sale for 211 houses and flats was completed in
August 2015, the construction of which was completed in May 2021.
Finally, after a long Examination process, the City of Edinburgh
Local Development Plan was adopted in November 2016 with a further
20 acres identified for housing, which resulted in HLM selling an
additional 116 plots as part of the third and latest phase.
Nick Duckworth, Managing Director of HLM, said: "We are
delighted to have completed the third sale to Barratt Developments
on our thriving site in Burdiehouse. There continues to be a strong
demand from housebuilders across the UK for strategic land and we
remain actively focused on replenishing our land bank to ensure we
can continue to meet this demand."
Philip Barnes, Group Land and Planning Director of Barratt
Developments, said: "The site at Burdiehouse comprises another HLM
site in a strong market area acquired by the Group, continuing the
relationship between the businesses. HLM consistently secure good
and marketable consents and present the product to the market in a
very professional manner."
For further information, please contact:
Henry Boot PLC
Tim Roberts, Chief Executive Officer
Darren Littlewood, Group Finance Director
Daniel Boot, Group Communications Manager
Tel: 0114 255 5444
www.henryboot.co.uk
Numis Securities Limited
Joint Corporate Broker
Garry Levin/George Fry
Tel: 020 7260 1000
Peel Hunt LLP
Joint Corporate Broker
Charles Batten/Harry Nicholas
Tel: 020 7418 8900
Hudson Sandler
Financial PR
Nick Lyon/Wendy Baker
Tel: 020 7796 4133
About Henry Boot PLC
Henry Boot PLC (BOOT.L) was established 135 years ago and is one
of the UK's leading and longest standing land promotion, property
investment and development, and construction groups of companies.
Based in Sheffield, the Group comprises the following three
segments:
Land Promotion:
Hallam Land Management Limited
Property Investment & 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, an
enviable reputation in the property development market 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
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