Boot(Henry) PLC Joint Venture (3144H)
03 August 2021 - 4:00PM
UK Regulatory
TIDMBOOT
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 GBP100m 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 GBP1.4bn
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."
-ends-
Enquiries:
Henry Boot PLC
Tim Roberts, Chief Executive Officer
Darren Littlewood, Group Finance Director
Daniel Boot, Group Communications Manager
Tel: 0114 255 5444
www.henryboot.co.uk
Numis Securities Limited
Joint Corporate Broker
Garry Levin/George Fry
Tel: 020 7260 1000
Peel Hunt LLP
Joint Corporate Broker
Charles Batten/Harry Nicholas
Tel: 020 7418 8900
Hudson Sandler
Financial PR
Nick Lyon/Wendy Baker
Tel: 020 7796 4133
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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END
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