Forward-funding deal secured for industrial scheme

RNS Number : 2684K

Boot(Henry) PLC

01 September 2021

 

1 September 2021

HENRY BOOT PLC
('Henry Boot' or 'the Group')

Henry Boot secures £54m forward-funding

deal for Nottingham industrial scheme

Henry Boot's property development business, HBD, has secured a £53.8m deal with Oxenwood Real Estate, the UK and European real estate investment management firm, to forward-fund a 426,464 sq. ft. logistics development in Nottingham.

The forward funding partnership is with Oxenwood Logistics Fund 1 SLP, a discretionary fund managed by Oxenwood Real Estate LLP.

New Horizon is a landmark 28-acre site, which was formerly home to Imperial Tobacco. The deal will see the development of seven industrial units from 30,000 sq. ft. to 145,000 sq. ft. on a speculative basis and is capable of creating up to 1,000 new jobs for the city.

The scheme is targeting a BREEAM sustainability rating of 'Very Good' and, subject to planning, is set to complete in the first quarter of 2023.

The deal is the latest in a succession for Henry Boot, including its £6.2m acquisition of a prominent site in Welwyn Garden City and a JV with Barings to deliver a £100m GDV logistics scheme in Rainham, Essex.

Ed Hutchinson, Managing Director of HBD, said: "This is the latest in a series of deals, with industrial and logistics a major component of our investment strategy. New Horizon is extremely well-located and will deliver new I&L space to satisfy established market demand for high-quality stock within the Midlands region."

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Enquiries:

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Group Finance Director

Daniel Boot, Group Communications Manager

Tel: [phone]

www.henryboot.co.uk

Numis Securities Limited

Joint Corporate Broker

Garry Levin/George Fry

Tel: [phone]

Peel Hunt LLP

Joint Corporate Broker

Charles Batten/Harry Nicholas

Tel: [phone]

Hudson Sandler

Financial PR

Nick Lyon/Wendy Baker

Tel: [phone]

About Henry Boot PLC

Henry Boot PLC (BOOT.L) was established over 135 years ago and is one of the UK's leading and long-standing property investment and development, land promotion and construction companies. Based in Sheffield, the Group is comprised of the following three segments:

Land Promotion:
Hallam Land Management Limited

Property Investment and Development:
HBD (Henry Boot Developments Limited), Stonebridge Homes Limited

Construction:
Henry Boot Construction Limited , Banner Plant Limited , Road Link (A69) Limited

The Group possess a high-quality strategic land portfolio, an enviable reputation in the property development market backed by a substantial investment property portfolio and an expanding, jointly owned, house building business. It has a construction specialism in both the public and private sectors, a long-standing plant hire business, and generates strong cash flows from its PFI contract through Road Link (A69) Limited.

www.henryboot.co.uk

 

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