Boot(Henry) PLC Henry Boot PLC boosts development pipeline
22 4월 2021 - 3:00PM
RNS Non-Regulatory
TIDMBOOT
Boot(Henry) PLC
22 April 2021
22 April 2021
HENRY BOOT PLC
('Henry Boot' or 'the Group')
Henry Boot PLC boosts pipeline with two strategic
acquisitions
Henry Boot PLC has made two acquisitions in line with its
strategic targets of increasing its investment portfolio towards a
target of GBP150million, and to continue to expand its GBP1.4bn
total development pipeline (HB share GBP1.1.bn).
HBD, the Group's property development business, has acquired
Allied Business Centre, a 150,000 sq ft industrial estate in
Skelmersdale, Lancashire from West Pimbo Limited for GBP4.75
million. The estate is in a strategic location adjacent to Junction
5 of the M58 motorway and comprises 117,800 sq ft of warehouse
space plus serviced offices spanning over 30,000 sq ft.
The three warehouse units are let to Messenger Express
Warehousing Limited who have been in occupation for over 15 years
and the serviced office space is multi-let to 13 tenants. The
estate generates total rental income of circa GBP303,000 per annum,
with the purchase price reflecting a net initial yield of nearly
6.0%. The 10.7-acre site has low site coverage of around 30% which
offers excellent redevelopment potential in the future.
HBD has also secured a prominent 2.6-acre city centre site in
Birmingham's popular Jewellery Quarter with a view to delivering a
circa GBP100m GDV residential-led mixed use scheme. Previously
occupied by a Sytner BMW dealership the site was acquired with
vacant possession from the joint vendors, King Edward 's School and
Sytner Group.
Ed Hutchinson, managing director of HBD, said: "These two deals
are the latest in a series of acquisitions by HBD, which include a
key site in Manchester's St Johns district and the purchase of
60,000 sq. ft. in Mabgate, Leeds. All of these latest acquisitions
have significant future redevelopment potential and are an
excellent strategic fit for our business."
The acquisitions form part of the Group's core development
strategy targeting industrial and logistics, residential and urban
development schemes.
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 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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