Henry Boot (LSE:BOOT) has completed the sale of a site in Biggleswade, Bedfordshire, with planning permission for 416 residential units to national homebuilder Persimmon.
The sale generated an ungeared internal rate of return of 16.9% per annum and will contribute to the group's 2026 financial performance while progressing Hallam Land towards its annual sales target.
Hallam Land entered into a planning promotion agreement for the 105-acre site in 2017, which sits on the northern edge of Biggleswade and is less than one mile from the A1.
Central Bedfordshire Council included an allocation for 43 acres of the site in its draft Local Plan in 2018, and the plan was adopted in July 2021.
An outline planning application was refused in September 2023 because of highways and access concerns but was later allowed on appeal in November 2024.
While the appeal was ongoing a revised application incorporating an alternative site access on additional land was approved in November 2025 and formed the basis of the sale.
The wider scheme will deliver much-needed homes including up to 125 affordable units, substantial s106 contributions and new areas of public open space.
"This transaction is another strong example of Hallam Land's ability to consistently unlock value through the promotion of well‑located strategic land and realise that value for shareholders through sales to housebuilders," Tim Roberts, Chief Executive Officer, said.
Hallam Land has facilitated 52,000 new homes since 1990 and manages one of the five largest land portfolios in the country, with the potential to facilitate over 100,000 homes.
