Henry Boot completes £25m residential land sale

RNS Number : 2014A

Boot(Henry) PLC

01 February 2022

 

01 February 2022

HENRY BOOT PLC

('Henry Boot' or 'the Group')

Henry Boot completes £25m residential land sale

Henry Boot's land promotion business, Hallam Land Management (HLM), has completed the sale of 760 plots to national housebuilder Barratt Developments and Vistry Partnerships for a total price of £25m.

The 125-acre site, located in Bridport, West Dorset, was contracted under a Planning Promotion Agreement in 2009. HLM then worked with the Local Planning Authority and local stakeholders to secure an allocation in the adopted West Dorset, Weymouth and Portland Local Plan in 2015. Planning permission was secured in May 2019 for 760 plots, 10 acres of employment land and further mixed-use development including shops and a primary school. The sale to Barratt Developments exchanged in 2021.

The sites community benefits include a total of 54 acres of public open space, within which 15 acres of new woodland will be planted, new leisure routes installed alongside equipped play areas, sports pitches, changing rooms, a multi-use games area and allotments.

Nick Duckworth, Managing Director of HLM, said: 'This significant deal with Barratt Developments and Vistry Partnerships will deliver much needed new homes in Bridport. It further highlights our capabilities in masterdeveloping a site to deliver homes, employment space, community facilities and open spaces.'

Philip Barnes, Group Land and Planning Director of Barratt Developments, said: 'This high-quality site is in a great location and is an excellent opportunity for us. Hallam Land Management have once again created the makings of a great scheme which we look forward to delivering to Bridport shortly.'

Enquiries:

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Group Finance Director

Daniel Boot, Group Communications Manager

Tel: [phone]

www.henryboot.co.uk

Numis Securities Limited

Joint Corporate Broker

Garry Levin

Tel: [phone]

Peel Hunt LLP

Joint Corporate Broker

Charles Batten/Harry Nicholas

Tel: [phone]

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

 

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