ON AIR NOW:

Henry Boot sells nearly 500 housing plots to Barratt business

Land and development company Henry Boot has announced the sale of almost 500 housing plots to an arm of the UK’s largest housebuilder.

The Sheffield firm, through its land promotion and planning business Hallam Land, has completed the sale of 491 residential plots at Pickford Gate in Coventry to the David Wilson Homes division of Barratt Developments. The size of the deal has not been revealed but Henry Boot said that “the sale resulted in an ungeared internal rate of return of 19.4% p.a.”.

The company added that payment will be phased over 2024 and 2025, and represented further progress in Hallam achieving its annual sales target of 3,000 plots.

  • Read more: 200 news being created with new Scarborough factory
  • Go here for more Yorkshire business news
  • Hallam, which has been working on the site since 2015, secured outline planning consent in 2021 for a total of 2,400 homes, of which 25% is affordable housing. The consent also includes 37 acres of employment land, a primary school, district and local centres, green open spaces, community facilities and playing fields. The project also involved delivering a new junction on the A45 dual carriageway which completed in April.

    Henry Boot had previous sold nearly 250 plots to housebuilder Countryside last March and retains 1,662 plots for future sale.

    Tim Roberts, CEO of Henry Boot, commented: “Our site sale to David Wilson Homes is a significant land transaction which will enable the delivery of quality homes in an area where people most need them. The phased sale of plots at our wider Pickford Gate site is progressing according to plan, where thousands of homes will be created due to the expertise of our land promotion business, which can unlock potential in sites across the country by securing planning permission for residential and mixed uses.”

    Henry Boot, which operates in land promotion, property development and construction, employs more than 500 people and manages one of the five largest land portfolios in the country.

    Original artice – https://business-live.co.uk/all-about/yorkshire-humber

    Scroll to Top