Phoenix 10 Development Scheme

RNS Number : 3859G

Boot(Henry) PLC

25 November 2020

 

25 November 2020

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

Contracts exchanged and plans outlined for Phoenix 10 development scheme

Henry Boot PLC has exchanged contracts with Walsall Council and Homes England on one of the largest regeneration projects in the West Midlands.

The new £73m GDV development scheme, known as Phoenix 10, is located in Walsall and will be delivered by the Group's property development business, HBD, in partnership with Walsall Council and Homes England. The 44-acre development project is the largest undeveloped plot in the Black Country and is set to become a centre for enterprise with up to 620,000 sq. ft. of industrial and logistic space, attracting new jobs and investment to the region.

Phoenix 10 is another long-term opportunity in Henry Boot's industrial and logistics offering, which currently makes up approximately 74% of the £1.4bn development pipeline. The scheme has prime distribution access to the M6 via Junction 9 and is capable of delivering units ranging from 21,000 sq. ft. to 415,000 sq. ft.

Henry Boot's strong financial position and long-standing experience in delivering large scale development projects, leaves the Group well placed to deliver another significant opportunity from its £1.4bn development pipeline.

Ed Hutchinson, Managing Director of HBD, said: "This is one of the most significant employment schemes coming forward in the West Midlands - both in terms of scale and its potential to drive business growth and is a great opportunity to bring new investment into the area. We look forward to getting started on this exciting project."

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Enquiries:

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Group Finance Director

Daniel Boot, Group Communications & Brand Coordinator

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 130 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 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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