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Henry Boot subsidiary sells consented Queniborough site
(Sharecast News) - Henry Boot said on Thursday that its land promotion and planning arm, Hallam Land, has completed the sale of a site in Queniborough, Leicestershire, with planning consent for 160 homes to housebuilder HarperCrewe, delivering an ungeared internal rate of return of 33% per annum. The London-listed firm said the sale marked further progress toward Hallam Land's annual sales target, and would contribute to the group's 2025 financial performance.
Hallam Land entered into a planning promotion agreement with the site's landowners in 2016, with the land later included in Charnwood Borough Council's Local Plan.
A planning application submitted in July 2023 was approved in December 2024.
The approved development included 160 homes, 30% of which would be affordable housing, alongside more than 12 acres of green infrastructure.
The plans also provided for allotments, recreational and play areas, and improved habitats to deliver biodiversity net gain.
"Hallam Land continues to benefit from the improved planning environment and sustained strong demand from UK housebuilders for land in prime locations," said chief executive Tim Roberts.
"The sale to HarperCrewe represents another successful milestone for Hallam Land, keeping the business firmly on track to meet its annual sales target and deliver a strong contribution to the group's 2025 financial performance."
At 0859 BST, shares in Henry Boot were down 1.95% at 224.53p.
Reporting by Josh White for Sharecast.com.
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