The deal will see the land promotion business – part of Henry Boot PLC – sell its interest in a 440-acre site in Didcot, Oxfordshire, to Taylor Wimpey UK and Persimmon Homes.
Hallam initially acquired its interest in the site in 2013. Since then, it has achieved consent for the development in partnership with the two major PLC housebuilders.
The planning proposal for the whole development of over 4,000 homes includes nearly 1,500 affordable homes, including extra care accommodation. It also features a range community facilities such as community centres, primary schools, sports pitches, leisure facilities and extensive cycle networks.
Nick Duckworth, managing director at Hallam Land Management, said: “This major site disposal demonstrates the robust demand for HLM’s strategic land. This transaction delivers for our landowners, with whom we work in partnership, and is a key site for Taylor Wimpey and Persimmon to develop into a thriving new community.
“We value the market knowledge and commercial expertise that Tom and the real estate team at Shoosmiths bring – delivering timely, clear and commercial advice, while working collaboratively with us over a number of years to get this transaction over the line.”
Acting for Hallam, Shoosmiths advised on all of the transactional documents, as well as matters relating to access, potential constraints and ensuring the title to the site was acceptable for development.
The deal was led by Shoosmiths real estate partner Thomas Hall, with the support of principal associate Kate McGoverne and associate Holly Gerard.
Gowlings advised Taylor Wimpey and Persimmon, with the owners advised by Birketts.
Image: Shoosmiths real estate partner Thomas Hall led the deal for Shoosmiths