// Boots sells plot of land at its Nottingham headquarters to a developer
// Ilke, which builds modular housing at a factory in Yorkshire, is planning to develop a 622-home “model village”
// Up to 505 houses and 117 flats are earmarked for the site, located close to Boots’ Thane Road campus
Boots has cashed in on its vast property assets after selling a plot of land at its Nottingham headquarters to a developer.
Ilke, which builds modular housing at a factory in Yorkshire, is planning to develop a 622-home “model village” on the 43-acre plot.
The development is set to become the largest low-rise modular housing estate in the UK, valuing in excess of £100 million.
The sale was brokered by Blackstar Advisory, though neither Boots nor Ilke have confirmed the sale price.
Ilke is backed by private equity group TDR Capital.
Its houses are built in a 250,000sq ft factory in Knaresborough then delivered to site on lorries, where workers “stitch” them together.
This is the first time that Boots has sold any of its land to a developer since the 286-acre site, now known as the Nottingham Enterprise Zone, was bought by Jesse Boot, son of the Boots founder John Boot, in 1927.
“We are delighted to partner with Ilke Homes to develop this site to provide high-quality, affordable and energy-efficient housing for people in the local area,” Boots UK estates director Mark Chivers said.
“Because of the historical significance of this site and everything it represents in terms of our company heritage it was vital that we find the right partner.”
Ilke plans to build 505 houses and 117 apartments and each will have an Energy Performance Certificate rating of at least a B, which means residents will be able to power their homes for about £1 per day.