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: 0789 479 7067 / 0779 892
6814
Email: henryboot@fticonsulting.com
Henry Boot PLC
Tim Roberts, Chief Executive
Officer
Darren Littlewood, Chief Financial
Officer
Daniel Boot, Senior Corporate
Communications Manager
Tel: 0114 255 5444
www.henryboot.co.uk
Deutsche Numis
Joint Corporate Broker
Ben Stoop
Tel: 020 7260 1000
Peel
Hunt LLP
Joint Corporate Broker
Ed Allsopp / Pete Mackie
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
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