Henry Boot and St John's College Cambridge secure planning consent for 5.5m sq ft Freeport development in Goole

Henry Boot announces that HBD, the group's property investment and development arm, in partnership with St John's College Cambridge, has secured an outline planning consent for FREEPORT 36, a nationally significant industrial & logistics scheme. It is anticipated that the first phase will deliver c.£130m GDV.

The consent allows for the creation of a 5.5m sq ft high quality, sustainable industrial and manufacturing park, with buildings ranging from 40,000 sq ft to over 1,000,000 sq ft. It is expected to create around 3,000 jobs in the local area, and 5,500 in the wider Yorkshire and Humber region. The Biodiversity Net Gain calculation forecasts over a 10% net gain for surrounding habitats.

The 300-acre site is located adjacent to Junction 36 of the M62 with convenient access to Goole Docks and the M18. The Humber Ports complex, which includes the four major ports of Hull, Goole, Immingham and Grimsby, is the busiest port complex in the UK. It handles approximately 17% of the nation's trade and is located within a four-hour drive of about 80% of the UK's population.

The site forms part of the Humber Freeport Goole tax site, which has already been officially designated following review and approval by the Treasury and HM Revenue & Customs.

Once operational, occupiers situated within the tax site can benefit from a range of financial incentives including Business Rates Relief, Enhanced Capital Allowances for investment in new plant and machinery assets, Stamp Duty Land Tax Relief on land purchases for qualifying commercial activity, and Enhanced Structures and Building Allowance for firms constructing or renovating buildings for non-residential use. Employers operating within a Freeport also pay 0% National Insurance Contributions on the salaries of eligible new employees at the site.

HBD became involved in the project in 2023 before submitting an outline planning application, which subsequently gained a resolution to grant consent this month subject to the conclusion of the Section 106 agreement. The next step will be to draw up detailed development plans, with the potential to start on site before the end of the year.

Tim Roberts, CEO at Henry Boot, commented: "Manufacturing and logistics hubs are a critical part of enabling business and economic growth across the country and HBD is bringing forward another large-scale project to support commerce in the Yorkshire region. The location and sustainability credentials of the development will attract high-quality, long-term occupiers in their own right, while advantages of the the scheme's strategic positioning within a freeport tax site will act as a further draw."

Suzie Wood, Head of Investment Property at St John's College, Cambridge commented: "The approval of the planning application is an exciting step forward to delivering a state of the art Industrial and Manufacturing Park within the Freeport tax zone. We are excited by the potential of the park to bring new investment and jobs to the region."

Finbarr Dowling, Chair of Humber Freeport, said: "This is tremendous news and is another major milestone in developing the Humber's economy. The locational advantages of Goole, along with its strong industrial cluster and Freeport incentives, offer end users a real competitive advantage. Industry leaders such as Siemens Mobility, Tesco Logistics and Guardian Glass are already located adjacent to the tax site,  and have benefitted from this strategic location. The future of this site is very exciting."

ENDS

Notes to editors

Henry Boot is one of the UK's leading land, property development and home building 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 Homes, Banner Plant and Road Link.

Operating across the UK, and employing over 400 people, we focus on three key markets: residential, industrial and logistics, and urban development. 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 £1.3billion, the equivalent of 7 million sq ft of developments across our key markets, while maintaining a c.£113million investment portfolio, of which 73% of the properties have an EPC rating of 'C' or higher.

Stonebridge Homes, 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.

For 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 £1million.

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

Enquiries

FTI Consulting

Richard Sunderland/Giles Barrie

07894 797067 / 07798 926814

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Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Chief Financial Officer

Daniel Boot, Senior Corporate Communications Manager

07825 088807

[email protected]

henryboot.co.uk

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Oliver Hardy

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