Henry Boot strikes deal to sell 759 plots to housebuilder Vistry Group

Yorkshire land and property specialist Henry Boot has struck a deal to sell 759 housing plots to national housebuilder Vistry Group.

The Sheffield business says its land promotion and planning business – Hallam Land Management (HLM) – has unconditionally exchanged contracts for the sale of the residential plots in Swindon. The deal value has not been disclosed.

The site in South Marston, Swindon, was secured by HLM through an option to purchase the land more than 20 years ago, and it has been promoting the site during the planning process. It forms part of a wider parcel of land in which it is working alongside Taylor Wimpey and Hannick Homes. Outline planning permission was granted in the summer of 2021 for 2,380 residential plots across a 400-acre site, of which 1,063 relate to HLM’s site.

HLM exchanged a contract to acquire the land last month. At the same time the business exchanged with Vistry to sell 759 plots, which will complete in two phases with the first in 2024 and the second in 2026.

The deal will pave the way for the delivery of new homes in the Swindon area including more than 500 affordable homes. The plans for the wider site include the creation of a number of community facilities including up to 26,900 sqft of retail, food, service and business space, a new primary school and an extension to an existing school. Community and sport buildings, woodland planting, green infrastructure and children’s play spaces will also feature.

HLM will retain 304 plots for future sale.

Tim Roberts, CEO of Henry Boot PLC, said: “While the housing industry has experienced slower sales rates over the past year, against what has been a challenging market backdrop, this sale further demonstrates the demand we continue to see for large, consented land parcels from major housebuilders who have a strategic long term requirement to deliver homes.

“At the same time there is an appetite for smaller premium sites in strong market locations. This disposal also underlines our team’s experience of taking large, complex sites through the planning system and ultimately selling them to housebuilders to both enable the delivery of much needed homes and community facilities across the UK and create shareholder value.”

Henry Boot will post its full year trading update next Tuesday.

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

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