Hallam Land has sold a development site with planning permission for 112 residential units at Yalding, Kent, to Fernham Homes for an undisclosed price.
The land promotion and planning business of Henry Boot said the sale had resulted in an ungeared internal rate of return of 37% per annum.
Hallam Land acquired the 23-acre site in December 2018 and submitted a planning application in November 2023 in line with the draft allocation in Maidstone Borough Council’s emerging local plan
Maidstone Borough Council adopted its local plan in March 2024, but did not make a decision on the application. Hallam Land appealed in May 2024 on the basis of non-determination and successfully secured approval in December 2024.
Tim Roberts, CEO of Henry Boot, said: “Completing this sale to Fernham Homes less than six months after securing planning, underscores strong demand from housebuilders for well-located land that is unlocked for housing delivery. This transaction continues Hallam Land’s positive start to the year, building on momentum achieved through an accelerated timeline for planning permissions under the current government. It also secures the provision of more homes in an area which lacks new housing supply and will deliver a tangible positive environmental and social impact on the area.”
