Hallam had a strong start to the year with 1,904 plots sold in the period, coupled with a site for roadside services. At the end of June 2018, we had exchanged contracts for the sale of a further 98 plots to complete later in 2018 and, since the end of June 2018, we have additionally completed sales of 365 plots on three sites.
At 30 June 2018, Hallam held interests in 173 sites equating to 14,015 acres, up from 13,273 acres at December 2017, of which 1,595 acres are owned, 2,766 under option and 9,654 under planning promotion agreements. During the six months to June 2018, we secured planning consents/resolutions to permit consent for 436 plots on three sites and at 30 June 2018, we held planning consents/resolution to permit consent for 17,061 plots on 51 sites, with a further 9,179 plots subject to planning applications.
The recent republication of the National Planning Policy Framework and with it, Guidance on Viability Assessments, coupled with the good availability of planning consented land available to house builders, is putting pressure on land pricing and average returns per plot, along with the mix of sales between owned land and land held under planning promotion agreements. However, as can be seen by our increasing land bank and number of projects, we continue to source a very healthy number of new opportunities in strong market locations.
As we enter the second half of 2018, the majority of Hallam’s business for the current year is either contractually exchanged or at an advanced stage of negotiation. In addition, we have also contractually exchanged sale contracts on six sites for over 1,200 plots which we expect to complete in 2019.
Hallam Land Management is a part of the Henry Boot Group of Companies.
The Modern Slavery Act 2015 - Group Statement: View here
“Henry Boot PLC and its Group Companies has, following the introduction of the Modern Slavery Act 2015 (the “Act”) implemented a number of measures which seek to bring about greater transparency and scrutiny into our various supply chains, in order to combat slavery and trafficking activities. Further to this, over the past year we have been reviewing the measures put in place and seeking to identify additional actions to strengthen our due diligence and transparency. The aim of the Act is in line with our own ‘Henry Boot Way’ Vision and Values, as updated in 2017, which include ‘Respect’, ‘Integrity’ and ‘Collaboration’, all of which are relevant to our approach in this regard.
We continue to keep under regular review our Human Trafficking and Slavery Statement (the ‘Statement’), setting out the activities undertaken to reduce the risk of slavery and trafficking activities being present within our business operations. These measures include the introduction of an Anti-Slavery Policy, due diligence requirements, and mandatory contract clauses seeking compliance by our supply chain with appropriate anti-slavery measures. Additional measures that have recently been put into place to increase knowledge and vigilance throughout our organisation and supply chain include posters and awareness cards across our sites.
We will continue to regularly work with our partners, contractors, suppliers and other stakeholders, as well as keeping industry best practice under review, to monitor our approach for effectiveness, and consider any changes or additional measures as appropriate.”
Click here to view the full statement.
Henry Boot PLC
Chief Executive Officer