Hallam sells optioned land

Hallam Land Management (HLM), Henry Boot’s strategic land division, has completed the sale of optioned land with planning permission for 700 homes in Buckingham to Barratt Developments and Bovis Homes Group for an undisclosed sum.

The deal follows the submission three years ago of a planning application on the non-allocated site by Hallam Land for the homes and six acres of employment development. Outline planning consent was secured in late 2009 and the site was marketed in mid 2010, receiving substantial levels of interest. Hallam Land, which has been acquiring, promoting, developing and trading in land since 1990, retains its interest in the employment land following the transaction.

HLM currently has interests in 8,200 acres of land through ownership, option and agency agreements. Henry Boot has also agreed the £33.8m sale of Ayr Central Shopping Centre to Sovereign Land and AREA Property Partners for £33.8m before costs. The deal reflects a net initial yield of 6.25 percent.