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LONDON - Henry Boot PLC announced Tuesday that its land promotion business, Hallam Land, has completed the sale of a 237-acre site with planning permission for 1,270 residential units near Tamworth, Staffordshire, to Persimmon Homes.
The transaction achieved an ungeared internal rate of return of 25% per annum, according to the company’s press release statement.
The development site, which sits on the border between Warwickshire and Tamworth, was first secured by Hallam Land in 2016 through an agreement with landowners. Planning applications were submitted to both North Warwickshire Borough Council and Tamworth Borough Council in 2018. The site was allocated for housing in the North Warwickshire Local Plan in 2021 and received outline planning permission in June 2025.
The approved development includes 1,270 homes with 30% designated as affordable housing. The plan also incorporates a 100-unit extra care facility, a community center, a primary school, and sports pitches. The project is expected to deliver over 10% Biodiversity Net Gain to improve surrounding habitats.
Tim Roberts, CEO at Henry Boot, said the transaction provides "momentum towards achieving our 2025 sales target" and demonstrates "Hallam Land’s expertise in securing planning permissions for homes on large and complex sites."
Emily Berville Charlesworth, Head of Land at Persimmon Homes in the Central region, stated the company is now working on the first phase of detailed planning consent with plans to submit to the Local Authority in early 2026.
Henry Boot PLC is listed on the London Stock Exchange and operates across urban development, industrial, logistics and residential markets in the UK.
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