|
Henry Boot PLC on Monday reported a sale by its land promotion and planning arm, Hallam Land, to FTSE 100-listed housebuilder Persimmon PLC. According to Henry Boot, the sale generated an ungeared internal rate of return just shy of 17% per year from acquisition, which will be reflected in 2026 earnings. Further financial details were not provided. Shares in the Sheffield, England-based construction and property development firm were down 0.3% to 164.50 pence on Monday morning in London. Persimmon shares were down 2.3% to 1,043.50p. The 105-acre site is in Biggleswade, Bedfordshire, and has permission for 416 residential units, Henry Boot noted. Hallam had entered a planning promotion agreement for the land back in 2017. Its revised planning application was approved in November, following refusal of the initial application in 2023. The 415-unit application makes provision for up to 125 affordable units, and publicly accessible space, required under Section 106 of the UK Town & Country Planning Act. Chief Executive Tim Roberts commented: ‘This transaction is another strong example of Hallam Land’s ability to both consistently unlock value through the promotion of well located strategic land and subsequently realise that value for shareholders through sales to housebuilders.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
