Vistry acquires portion of 400-acre Swindon residential site
Henry Boot’s land promotion and planning business, Hallam Land Management, has sold 759 home plots in Swindon to Vistry Group.
Located in South Marston, just to the north-east of the town, HLM secured an option to purchase the site more than 20 years ago, and since then it has been guiding the land through the planning process, as part of a wider strategic land parcel working alongside Taylor Wimpey and Hannick Homes.
In August 2021, outline planning consent was secured for a total of 2,380 residential plots across a 400-acre site, of which 1,063 relate to HLM’s site.
Henry Boot’s land promotion and planning business, Hallam Land Management, has sold 759 home plots in Swindon to Vistry Group.
Located in South Marston, just to the north-east of the town, HLM secured an option to purchase the site more than 20 years ago, and since then it has been guiding the land through the planning process, as part of a wider strategic land parcel working alongside Taylor Wimpey and Hannick Homes.
In August 2021, outline planning consent was secured for a total of 2,380 residential plots across a 400-acre site, of which 1,063 relate to HLM’s site.
Vistry acquired the site in December 2023, and the homes will be completed in two phases – the first in 2024 and the second in 2026.
In addition to providing 500 affordable homes, the wider site includes up to 26,900 sq ft of retail, food, service and business space, a new primary school and an extension to an existing school, as well as community and sport buildings, significant woodland planting, green infrastructure and children’s play areas.
The transaction is expected to result in an ungeared internal rate of return for Henry Boot of 10% pa. HLM will retain 304 plots for future sale.
Tim Roberts, chief executive of Henry Boot, said: “While the housing industry has experienced slower sales rates over the past year, against what has been a challenging market backdrop, this sale further demonstrates the demand we continue to see for large, consented land parcels from major housebuilders that have a strategic long-term requirement to deliver homes.”
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