Henry Boot announces that its land promotion and planning business, Hallam Land, has completed the sale of a site with planning for 160 residential units in Queniborough, Leicestershire, to house builder HarperCrewe.
The sale resulted in an ungeared internal rate of return of 33% p.a. It represents further progress in Hallam Land achieving its annual sales target, and will contribute towards the group’s 2025 financial performance.
In 2016, Hallam Land entered into a planning promotion agreement with the landowners. The site, which is located eight miles north east of Leicester was included in the Charnwood Borough Council Local Plan, and in July 2023, Hallam Land submitted a planning application in line with the draft allocation. The application was successfully approved in December 2024.
In addition to the 160 homes, of which 30% will be affordable, the consent will deliver over 12 acres of green infrastructure, incorporating allotments, improved habitats to meet Biodiversity Net Gain and recreational and play space for new residents.
“Hallam Land continues to benefit from the improved planning environment and sustained strong demand from UK housebuilders for land in prime locations. 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.”
Tim Roberts, CEO at Henry Boot
