This has generated an ungeared internal rate of return of 28% per annum, taking Hallam’s plot disposals for the year to circa 2,800.

Despite being marginally below the firm’s sales target of 3,000 plots, Hallam is on track to hit its full year financial target.

Elsewhere, Hallam has secured planning consent on 2,870 plots, with over 2,000 of this achieved since September. In contrast, consent was secured for 1,014 plots in 2023.

Hallam has lodged appeals on 2,189 plots and in total has 11,191 in the planning system.

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The firm currently has planning consent for 9,611 plots with a further 10,000 applications to be submitted over the next 12 months.

“This latest sale of a significant parcel of consented residential land means that Hallam Land is firmly on track to meet its target for land sales in this financial year,” said TIm Roberts, CEO at Henry Boot.

“I am also pleased to note that under the new government there has already been a welcome and much needed improvement in the planning system. We expect this to provide a strong tailwind to Henry Boot’s ambition to accelerate the volume of plots submitted for approval from our well located land bank next year.”