Hallam Land has sold a site with planning consent for 160 residential units in Queniborough, Leicestershire, to housebuilder HarperCrewe for an undisclosed price.
The land promotion and planning business of Henry Boot said the sale resulted in an ungeared internal rate of return of 33% per annum.
Hallam Land entered into a planning promotion agreement with the landowners of the site in 2016 and in July 2023 the company submitted a planning application, which was approved in December 2024.
In addition to the 160 homes, 30% of which will be affordable, the development will feature more than 12 acres of green infrastructure.
Tim Roberts, CEO of Henry Boot, said: “Hallam Land continues to benefit from the improved planning environment and sustained strong demand from UK housebuilders for land in prime locations. The sale to HarperCrewe represents another successful milestone for Hallam Land, keeping the business firmly on track to meet its annual sales target and deliver a strong contribution to the group’s 2025 financial performance.”
