RCS - Boot(Henry) PLC - HENRY BOOT EXPANDS LUTON BUSINESS PARK

Henry BootAnnouncement

02/08/2023 07:00

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RNS Number : 9478H  Boot(Henry) PLC  02 August 2023

 

02 August 2023

HENRY BOOT PLC

('Henry Boot' or 'the Group')

HENRY BOOT EXPANDS LUTON BUSINESS PARK WITH LATEST COMPLETION

Henry Boot announces that its property investment and development business,
HBD, has completed a new 85,000 sq. ft. building at the 83-acre Butterfield
Business Park in Luton, Bedfordshire. The £16m Gross Development Value (GDV)
unit has been purpose-built for occupier Shoal Group, an electrical component
supplier, and comprises 70,000 sq. ft. of warehouse space alongside offices
spanning 15,000 sq. ft.

 

Butterfield Business Park has become a leading business destination, offering
a range of options for large companies through to smaller SMEs and is a key
driver of inward investment - attracting new businesses, jobs and
opportunities to Luton. Located to the North East of Luton Town Centre,
Butterfield Business Park is ten minutes from Luton Airport and 20 minutes
from the M1.

 

Henry Boot became involved in the site in 2015 and diversified its offering
away from offices to cater to multiple uses and capitalise on demand for
warehouse and logistics space in this prime location. Its Quad scheme
completed in early 2019, followed by the second phase last year. A third phase
is currently in development, providing modern space for SMEs to grow.

 

The £16m GDV unit will be retained within the Group's £106m investment
portfolio, in line with the businesses strategic target of growing the
portfolio back to a value of £150m, which will primarily be achieved by
retaining completed developments that meet the investment criteria and by
acquiring investments with future redevelopment potential.

 

Tim Roberts, CEO of Henry Boot PLC, commented: "Well-connected locations
continue to be attractive to businesses of all sizes, enabling them to set-up,
grow and diversify. The latest completion at Butterfield Business Park
demonstrates the strength of our proposition in Luton, attracting a broad
range of companies and reinforcing the decision we took to diversify delivery
to include warehouse and logistics space."

 

-ENDS-

 

 

 

Enquiries:

 

FTI Consulting

Ph: 020 3727 1000

Email: henryboot@fticonsulting.com (mailto:henryboot@fticonsulting.com)

 

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Chief Financial Officer

Daniel Boot, Group Communications Manager

Tel: 0114 255 5444

www.henryboot.co.uk

 

Numis Securities Limited

Joint Corporate Broker

Ben Stoop

Tel: 020 7260 1000

 

Peel Hunt LLP

Joint Corporate Broker

Charles Batten

Tel: 020 7418 8900

 

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
(http://www.henryboot.co.uk/our-businesses/hallam-land-management/)

 

Property Investment and Development:
Henry Boot Developments Limited (HBD)
(http://www.henryboot.co.uk/our-businesses/hbd/) , Stonebridge Homes Limited
(http://www.henryboot.co.uk/our-businesses/stonebridge-homes/)

 

Construction:
Henry Boot Construction Limited
(http://www.henryboot.co.uk/our-businesses/henry-boot-construction/) , Banner
Plant Limited (http://www.henryboot.co.uk/our-businesses/banner-plant/) , Road
Link (A69) Limited (http://www.henryboot.co.uk/our-businesses/road-link-a69/)

 

The Group possesses a high-quality strategic land portfolio, a proven
reputation in the property development market for creating places with
purpose, 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 (http://www.henryboot.co.uk)

 

 

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