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LONDON - Henry Boot PLC announced Wednesday that its land promotion business, Hallam Land, has completed the sale of a freehold site with planning permission for 112 residential units in Yalding, Kent to Fernham Homes.
The 23-acre site, which was acquired by Hallam Land in December 2018, achieved an ungeared internal rate of return of 37% per annum. The transaction will contribute to Henry Boot’s financial performance for 2025.
Located between Maidstone and Royal Tunbridge Wells, the development will include 40% affordable housing along with new landscaped areas and habitat creation. The project is expected to deliver over 20% Biodiversity Net Gain for surrounding habitats.
Hallam Land secured planning approval in December 2024 following an appeal based on non-determination after Maidstone Borough Council adopted its Local Plan in March 2024 but did not make a decision on the application submitted in November 2023.
Tim Roberts, CEO at Henry Boot, said the completion of the sale less than six months after securing planning permission "underscores strong demand from housebuilders for well-located land that is unlocked for housing delivery."
The transaction represents further progress toward Hallam Land’s annual sales target and continues what the company described as a positive start to the year.
Henry Boot PLC, listed on the London Stock Exchange (LON:LSEG), operates across urban development, industrial, logistics and residential markets in the UK. The information is based on a company press release statement.
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