Update on Airport Business Park Scheme in Southend

RNS Number : 9329F

Boot(Henry) PLC

20 November 2020

 

20 November 2020

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

Update on Airport Business Park Scheme in Southend

Henry Boot PLC has completed construction enabling works at its 21-ha Airport Business Park Scheme (ABPS), which is located in a prime distribution area of Southend. ABPS is a £90m GDV joint venture between the Group's development business, HBD, and Southend-on-Sea Council. The scheme is set to create 3,500 jobs in the area.

Completion of the enabling works presents further development opportunities in the Group's £1.4bn development pipeline. The Group has secured outline planning permission for 1 million sq. ft. of flexible business space at the site, further adding to Henry Boot's industrial offering, which currently makes up approximately 74% of the development pipeline. The continued delivery and replenishment of the £1.4bn development pipeline will play a key role in keeping the Group in a strong position

In July ABPS secured its first occupier, IPECO Holdings, which took possession of a purpose-built building to be utilised in its manufacturing of seating for aircraft crews. With the enabling works complete, t he Group is able deliver up to 52,500 sq. ft. buildings within an efficient 12-15-month timeframe and will now turn its focus on securing more occupiers.

Ed Hutchinson, Managing Director of HBD said: "ABPS is a significant development both for Henry Boot and Southend, creating valuable industrial and logistic space and employment in the area. Work is continuing to progress quickly on site, and we look forward to securing further tenants and submitting planning for further aspects of the scheme in the coming weeks."

For further information, please contact:

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Group Finance Director

Daniel Boot, Group Communications Coordinator

Tel: [phone]

www.henryboot.co.uk

Hudson Sandler

Nick Lyon/Wendy Baker

Tel: [phone]

[e-mail]

About Henry Boot PLC

Henry Boot PLC (BOOT.L) was established over 130 years ago and is one of the UK's leading and longest standing land promotion, property investment and development, and construction groups of companies. Based in Sheffield, the Group comprises the following three segments:

Land Promotion:

Hallam Land Management Limited

Property Investment & 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, an enviable reputation in the property development market 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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