Henry Boot completes land sale in Didcot
Source: RNS
4 May 2022
HENRY BOOT PLC
('Henry Boot' or 'the Group')
HENRY BOOT COMPLETES SALE OF 2,170 RESIDENTIAL PLOTS, ENABLING DELIVERY OF NEW HOMES IN UNDERSUPPLIED OXFORDSHIRE AREA
Henry Boot PLC announces that its land promotion business, Hallam Land Management (HLM), has completed the sale of 2,170 residential plots in Didcot, Oxfordshire to national housebuilders Taylor Wimpey UK Ltd and Persimmon Homes Ltd, under a planning promotion agreement (PPA) on behalf of private landowners. The transaction represents a significant proportion of HLM's annual sales target of 3,500 plots, placing it on track to deliver against its medium-term growth strategy.
The 440-acre site is located on the western fringe of the town of Didcot in Oxfordshire, 10 miles south of the city of Oxford. HLM took control of just over half of the strategically located site in June 2013 and has since been actively promoting it in partnership with Taylor Wimpey and Persimmon, who controlled other parts of it. The three parties worked with the Local Planning Authority and Oxfordshire County Council to secure an allocation in the adopted Vale of White Horse Local Plan in December 2016, and subsequently secured outline Planning Permission for 4,254 plots in February 2022.
A broad range of additional community benefits have been incorporated into the site's planning, including community/local centres, primary schools, sports pitches, leisure facilities, 80 acres of open space alongside extensive green infrastructure and cycle networks. The scheme will also comprise nearly 1,500 (35%) affordable units, including essential Extra Care (assisted living) accommodation, a special education needs (SEN) school to meet the requirements of the locality and wider Oxfordshire area, and an extensive S106 package providing funds for healthcare, biodiversity, public transportation, a library, off-site sport and leisure facilities, as well as public artworks.
Tim Roberts, CEO of Henry Boot PLC, commented: "This major disposal demonstrates the robust demand for HLM's strategic land plots. Our team's industry leading expertise in resolving complex planning matters has enabled the delivery of this significant opportunity, whilst highlighting our capabilities in master planning to bring forward new homes, employment space, community facilities and open spaces in undersupplied areas of the UK. With this transaction, we have continued to make strong headway towards HLM's annual revenue and profit target, which stands at over 60% of our 2022 goal. We are also well on track to meet medium term growth objectives thanks to a strong housing market and HLM's continuously replenished land bank."
Enquiries:
FTI Consulting
Ph: 020 3727 1000
Email: henryboot@fticonsulting.com
Henry Boot PLC
Tim Roberts, Chief Executive Officer
Darren Littlewood, Group Finance Director
Daniel Boot, Group Communications Manager
Tel: 0114 255 5444
www.henryboot.co.uk
Numis Securities Limited
Joint Corporate Broker
Garry Levin
Tel: 020 7260 1000
Peel Hunt LLP
Joint Corporate Broker
Charles Batten/Harry Nicholas
Tel: 020 7418 8900
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.
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