HENRY BOOT COMPLETES AND COMMITS TO NEW SCHEMES

RNS Number : 6387W

Boot(Henry) PLC

19 April 2023

 

19 April 2023

HENRY BOOT PLC

('Henry Boot' or 'the Group')

HENRY BOOT COMPLETES AND COMMITS TO FURTHER INDUSTRIAL AND LOGISTIC SCHEMES

Henry Boot announces that its property investment and development business, HBD, has completed on a significant Industrial & Logistics (I&L) scheme whilst simultaneously committing to new developments and adding to its £1.25bn development programme.

This month HBD has completed on a £54m (GDV) I&L scheme, Power Park, located on the former Imperial Tobacco plant in Nottingham. The 426,000 sq ft scheme, comprising seven units, exchanged contracts with Oxenwood Logistics Fund 1 SLP, on a forward funding basis in 2021. Each of the seven units meet BREEAM "Very Good" standards, which will help occupiers to keep running costs low and limit the scheme's environmental impact.

Alongside this, HBD has replenished the committed development programme, with two new commissions at Airport Business Park, its 52 acre I&L scheme in Southend, Essex. Two freehold Design and Build transactions for owner-occupiers have been agreed at a total price of £19.3m. A 128,888 sq ft headquarters facility will be developed for Ipeco Holdings, the world leader in aircraft seating, while CAMA Asset Store, specialists in sustainable storage for the creative industries, will take occupation of a 27,603 sq ft warehouse facility with ancillary office accommodation.

The Group also continues to add to its £1.25bn development pipeline by acquiring a 62 acre site in Lancashire, in joint venture with Barnfield Group, which has the potential to deliver an 786,000 sq ft I&L scheme adjacent to the established Roman Way Industrial Estate in Preston. Having held the site under option since 2018, planning proposals were submitted last year before purchasing the freehold. Subject to securing planning, the scheme, which benefits from a strategic distribution location, will deliver high-specification, sustainable I&L space and has the potential to create 1,500 new jobs. Potential occupiers have already been identified.

Tim Roberts, CEO of Henry Boot PLC, commented: "While we've witnessed positive signs of activity across all of Henry Boot's three key markets - Industrial & Logistics, Residential and Urban Development - we are particularly encouraged by the resilience of occupier demand for high-quality warehouse accommodation in key locations, which has enabled us to continue progressing and growing our substantial I&L development programme. We remain cognisant of the headwinds impacting the trading environment but will look to take advantage of market conditions through selective opportunistic land acquisitions which offer attractive development potential, particularly in areas such as I&L where the underlying demand remains undeniably strong."

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Enquiries:

FTI Consulting

Giles Barrie (07798 926814) / Ellie Sweeney (07583 089 350) / Laura Taylor (07983 641 898)

Email: [e-mail]

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Chief Finance Officer

Daniel Boot, Group Communications Manager

Tel: [phone]

www.henryboot.co.uk

Numis Securities Limited

Joint Corporate Broker

Ben Stoop

Tel: [phone]

Peel Hunt LLP

Joint Corporate Broker

Charles Batten/Harry Nicholas

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:
Henry Boot Developments Limited (HBD) , Stonebridge Homes Limited

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

The Group possesses a high-quality strategic land portfolio, a proven reputation in the property development market for creating places with purpose, backed by a substantial investment property portfolio and an expanding, jointly owned, housebuilding business. It has a construction specialism in both the public and private sectors, a plant hire business, and generates strong cash flows from its PFI contract, Road Link (A69) Limited.

www.henryboot.co.uk

 

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