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

Henry BootAnnouncement

11/06/2024 07:00

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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: 0789 479 7067 / 0779 892 6814

Email: henryboot@fticonsulting.com (mailto: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
(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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