Henry Boot’s land promotion and planning business Hallam Land Management (HLM) has exchanged on the sale of a 250-plot, 31-acre site in Eastern Green, Coventry, to Countryside Partnerships.
The site forms the first phase of a wider 353-acre site for which HLM acted on behalf of the landowners to secure planning permission and associated infrastructure.
In 2021, the wider Eastern Green development received outline planning consent for the creation of a new community consisting of 2,400 new homes, 37-acres of employment land, a new primary school, district and local community centres, a transport hub and extensive open spaces and play facilities.
Tim Roberts, CEO of Henry Boot, said: “This disposal demonstrates a robust demand for HLM’s strategic land plots from leading housebuilders who recognise the benefits in utilising our team’s industry leading expertise in resolving increasingly complex planning matters. HLM’s unique masterplanning capabilities have the proven ability to create significant value whilst bringing forward new homes, employment facilities and community spaces in undersupplied areas of the UK.”
The transaction is due to complete by end of March 2023, with HLM taking a percentage of the sale proceeds plus significant recovery of costs for promoting phase one and the wider project.
