Henry Boot boosts pipeline with key acquisition
05 July 2021
HENRY BOOT PLC
('Henry Boot' or 'the Group')
Henry Boot boosts pipeline with key industrial acquisition
Henry Boot's property developer, HBD, has acquired a prominent industrial site in Welwyn Garden City for £6.2m before costs from National Grid.
The 3.0-acre site on Tewin Road is located in a well-established industrial area of the city and close to Junction 4 of the A1(M) benefitting from close proximity to the wider national motorway network beyond. Subject to planning the site will be redeveloped to deliver c.70,000 sq ft of industrial/warehouse space with a GDV of c.£20m. Work is anticipated to start on site in Q2 2022.
The acquisition forms part of the Group's core development strategy targeting industrial and logistics, urban residential and commercial schemes and it will continue to inject much-needed new industrial space into the market, meeting established demand.
Ed Hutchinson, Managing Director of HBD, said: "This site is extremely well located within an established South East industrial location with neighbouring occupiers including Ocado, Aldi and ATS Euromaster and offers excellent potential for redevelopment. During the year we have been successful in seeking new development opportunities and we look forward to announcing further deals in the coming weeks."
-ends-
Enquiries:
Henry Boot PLC
Tim Roberts, Chief Executive Officer
Darren Littlewood, Group Finance Director
Daniel Boot, Group Communications Manager
Tel: 0114 255 5444
www.henryboot.co.uk
Numis Securities Limited
Joint Corporate Broker
Garry Levin/George Fry
Tel: 020 7260 1000
Peel Hunt LLP
Joint Corporate Broker
Charles Batten/Harry Nicholas
Tel: 020 7418 8900
Hudson Sandler
Financial PR
Nick Lyon/Wendy Baker
Tel: 020 7796 4133
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.
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 hour ago Optima Health
- 1 hour ago Centrica
- 2 hours ago Glenveagh Properties (CDI)
- 3 hours ago Ithaca Energy
- 6 hours ago Rome Resources