Completion and planning secured at I&L scheme

Boot(Henry) PLC

28 August 2024

 

Henry Boot secures planning consent for 75,000 sq ft of industrial & logistics at Southend Airport Business Park following completion of £15m unit

Henry Boot announces that HBD, the group's property investment and development arm, has completed a £15m GDV industrial & logistics ('I&L') unit at Airport Business Park Southend ('ABPS'), while also being granted planning permission to bring forward a further 75,000 sq ft.

In April 2023, HBD agreed to develop a 140,000 sq ft freehold design and build unit for Ipeco Holdings ('Ipeco'), one of the world's leading manufacturers in aircraft seating. Practical completion was achieved in June 2024 and Ipeco has now taken occupation of the building. This more than doubles their manufacturing space at ABPS, less than two years after moving into a 124,000 sq. ft. purpose-built unit and demonstrates both the high quality of the ABPS scheme and the strong partnership between HBD and IPECO.

HBD has also received planning permission for a further 75,000 sq ft across two units at ABPS. These will be marketed to potential occupiers on a design and build basis and anticipates works on start commencing in Q1 2025.

ABPS is a 52 acre I&L scheme in Southend, Essex, delivered in partnership between HBD and Southend-on-Sea City Council. It represents a £150 million investment in best-in-class spaces and infrastructure, including 'Launchpad', a new innovation facility hub spanning 3,254 square meters.  

Tim Roberts, CEO of Henry Boot PLC, commented: "HBD's practical completion and further expansion at ABPS is testament to the quality and appeal of the premium, purpose-built sites we design and deliver, which are highly sought after by occupiers. We look forward to maintaining our partnership with Southend-on-Sea City Council as Airport Business Park Southend continues to establish itself as a leading industrial and logistics hub in the region, welcoming businesses of all sizes to expand and innovate. Additionally, achieving further planning permission allows us to continue to meet high occupier demand and ease the critical undersupply of industrial space that exists in the Southend area."

ENDS

Notes to editors

Henry Boot is one of the UK's leading land, property development, home building and construction businesses - and we've been transforming land and spaces since 1886. Listed on the London Stock Exchange since 1919, we're renowned for quality, expertise, delivery and a partnership approach across the group - which comprises, Hallam Land, HBD, Stonebridge, Henry Boot Construction, Banner Plant and Road Link.

Operating across the UK, and employing over 500 people, we focus on three key markets: urban development, industrial and logistics and residential. Hallam Land has facilitated 52,000 new homes since 1990, managing one of the top five largest land portfolios in the country, with the potential to facilitate over 100,000 homes. HBD manages a development pipeline of £1.3bn, the equivalent of 7m sq ft of developments across our key

markets, while maintaining a £113m investment portfolio, of which 73% of the properties have an EPC rating of 'C' or higher. Stonebridge, our jointly-owned home building business, manages a land portfolio capable of delivering 1,500 homes, with an ambition to deliver up to 600 new homes a year.

Henry Boot Construction has extensive experience in both the public and private sectors, including major projects such as the £200m regeneration of Barnsley town centre, and The Cocoa Works, a £57m residential development in York. For over 65 years, Banner Plant has supplied construction products and services, operating from seven regional depots in the North of England. We have also developed an ambitious Responsible Business Strategy to help us meet our aim of being Net Zero Carbon by 2030, and to deliver, by 2025, charitable, community and education work valued at £1m.

From land promotion, property development and investment to home building, construction and plant hire, Henry Boot is where great places start.

henryboot.co.uk

Enquiries

FTI Consulting

Richard Sunderland/Giles Barrie

07894 797067 / 07798 926814

[e-mail]

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Chief Financial Officer

Daniel Boot, Senior Corporate Communications Manager

07825 088807

[e-mail]

henryboot.co.uk

Deutsche Numis

Joint Corporate Broker

Ben Stoop

0207 260 1000

Peel Hunt LLP

Joint Corporate Broker

Ed Allsopp / Pete Mackie

0207 418 8900

 

END