Joint Venture

RNS Number : 3144H

Boot(Henry) PLC

03 August 2021

 

03 August 2021

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

Henry Boot acquires an industrial site in partnership with Barings

Henry Boot's property development business, HBD, and Barings have acquired a 20-acre industrial development site in Rainham, London in a Joint Venture partnership. HBD are a 20% partner, whilst Barings own an 80% stake in the project.

The circa £100m GDV redevelopment project has outline planning for employment use, where the JV plans to develop out approximately 368, 000 sq. ft. The site also benefits from excellent transport links via the A13, which provides access into central London and the M25.

The redevelopment will provide new high specification, sustainable industrial & logistics units and will include enhancements to the River Thames waterfront and cycle path. HBD is due to begin work on site next year, with a target completion date of 2023.

This acquisition, alongside the Group's purchase of a 3-acre industrial site at Welwyn Garden City, is the latest in a series of purchases, as HBD continues to focus on building its £1.4bn development pipeline across the UK

Ed Hutchinson, Managing Director of HBD, said: "We are very pleased to be able to bring HBD's extensive expertise within the industrial and logistics sector to this strategic partnership, and we look forward to co-investing alongside Barings to bring this new project forward."

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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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