Henry Boot PLC has announced that its land promotion and planning arm, Hallam Land Management, has completed the sale of a freehold site in Yalding, Kent, to housebuilder Fernham Homes.

The site has full planning permission for 112 residential units.

The sale has generated an ungeared internal rate of return of 37% per annum and marks further progress toward Hallam Land’s annual sales target. The transaction is expected to support Henry Boot’s financial performance in 2025.

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Hallam Land acquired the 23-acre site in December 2018, identifying its potential in a high-demand housing corridor between Maidstone and Royal Tunbridge Wells. The site was included in Maidstone Borough Council’s Emerging Local Plan, prompting Hallam Land to submit a planning application in November 2023, in line with the draft allocation.

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

In addition to the 112 homes, 40% of which will be affordable, the consented development will deliver landscaped open spaces, habitat creation, and publicly accessible green infrastructure. The project is also expected to achieve more than 20% Biodiversity Net Gain across the surrounding habitats.