Boot(Henry) PLC HENRY BOOT COMPLETES SALE OF 1,855 PLOTS
March 09 2023 - 2:00AM
RNS Non-Regulatory
TIDMBOOT
Boot(Henry) PLC
09 March 2023
09 March 2023
HENRY BOOT PLC
('Henry Boot' or 'the Group')
HENRY BOOT COMPLETES SALE OF 1,855 RESIDENTIAL PLOT SITE,
ENABLING DELIVERY OF NEW HOMES IN MILTON KEYNES
Henry Boot PLC announces that its land promotion and planning
business, Hallam Land Management (HLM), has completed on the sale
of a 1,855-plot site in Milton Keynes to national housebuilder
Taylor Wimpey UK Ltd.
HLM had an Option Agreement in place jointly with William Davis
Homes and Taylor Wimpey UK Ltd for the long-term promotion of the
land, benefitting from a discount to market value. HLM's interest
in the land accounted for 618 plots, with the remainder of the sale
held by William Davis Homes. The transaction has resulted in an
ungeared internal rate of return for Henry Boot of 14.0% p.a.
The 342-acre site is located to the South West of Milton Keynes,
below the A421 between Bletchley and Newton Longville. Positioned
around seven miles outside of the centre of Milton Keynes, a series
of public transport improvements are set to further enhance the
site's connections to the surrounding area. Alongside 1,855 homes,
of which 30% will be affordable, the site will feature 6.5 acres of
employment land, a primary school, secondary school and a
neighbourhood centre including retail and community buildings. Over
130 acres of green infrastructure will be delivered across the
site, providing extensive play spaces, sports facilities and
benefitting air quality and local ecology.
The site forms part of the South West Milton Keynes Consortium
and approval was required from both Buckinghamshire Council and
Milton Keynes Council. The cross-boundary scheme was granted
approval in December 2022. An extensive Section 106 package will
provide funds towards facilities and services benefitting both
authorities, including Milton Keynes hospital, Buckinghamshire
education services, extensive offsite highway works and new public
transport infrastructure together with substantial pedestrian
links.
Tim Roberts, CEO of Henry Boot PLC, commented , "The sale of
this site to a leading national housebuilder continues to
demonstrate the benefit of working with Hallam Land Management to
navigate complex planning arrangements and manage multiple
stakeholders. This latest transaction represents a strong start to
2023, while the ongoing demand for new homes presents a significant
opportunity for Henry Boot's land promotion business. The team
brings deep expertise in masterplanning and is able to ensure that
strategically important sites can deliver a range of housing
tenures, amenities and infrastructure improvements to the benefit
of new and existing communities."
-Ends-
Enquiries:
FTI Consulting
Ph: 020 3727 1000
Email: henryboot@fticonsulting.com
Henry Boot PLC
Tim Roberts, Chief Executive Officer
Darren Littlewood, Chief Financial Officer
Daniel Boot, Group Communications Manager
Tel: 0114 255 5444
www.henryboot.co.uk
Numis Securities Limited
Joint Corporate Broker
Ben Stoop
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.
www.henryboot.co.uk
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAFVLFBXXLXBBB
(END) Dow Jones Newswires
March 09, 2023 02:00 ET (07:00 GMT)
Henry Boot (LSE:BHY)
Historical Stock Chart
From Jul 2024 to Aug 2024
Henry Boot (LSE:BHY)
Historical Stock Chart
From Aug 2023 to Aug 2024