Sale of 112 Residential Plots at Yalding

Henry Boot announces that its land promotion and planning business, Hallam Land, has completed the sale of a freehold site with planning permission for 112 residential units at Yalding, Kent to Fernham Homes.

The sale resulted in an ungeared internal rate of return of 37% p.a. It represents further progress in Hallam Land achieving its annual sales target and will contribute towards the group's 2025 financial performance.

Hallam Land acquired the 23-acre site in December 2018, recognising its potential in a high demand housing area between Maidstone and Royal Tunbridge Wells. With the site having been included in Maidstone Borough Council's Emerging Local Plan, Hallam Land submitted a planning application in November 2023 in line with the draft allocation.

Maidstone Borough Council adopted its Local Plan in March 2024, but did not make a decision on the application. Hallam Land appealed in May 2024 on the basis of non-determination and successfully secured approval in December 2024.

In addition to the 112 homes, of which 40% are affordable, the consent will deliver new landscaped areas, habitat creation and publicly accessible green infrastructure, with over 20% Biodiversity Net Gain calculated for surrounding habitats.

Tim Roberts, CEO at Henry Boot, commented: "Completing this sale to Fernham Homes less than six months after securing planning, underscores strong demand from housebuilders for well-located land that is unlocked for housing delivery. This transaction continues Hallam Land's positive start to the year, building on momentum achieved through an accelerated timeline for planning permissions under the current government. It also secures the provision of more homes in an area which lacks new housing supply and will deliver a tangible positive environmental and social impact on the area."

henryboot.co.uk