Henry Boot boosts pipeline with key acquisition

05 July 2021

HENRY BOOT PLC
('Henry Boot' or 'the Group')

Henry Boot boosts pipeline with key industrial acquisition

Henry Boot's property developer, HBD, has acquired a prominent industrial site in Welwyn Garden City for £6.2m before costs from National Grid.

The 3.0-acre site on Tewin Road is located in a well-established industrial area of the city and close to Junction 4 of the A1(M) benefitting from close proximity to the wider national motorway network beyond. Subject to planning the site will be redeveloped to deliver c.70,000 sq ft of industrial/warehouse space with a GDV of c.£20m. Work is anticipated to start on site in Q2 2022.

The acquisition forms part of the Group's core development strategy targeting industrial and logistics, urban residential and commercial schemes and it will continue to inject much-needed new industrial space into the market, meeting established demand.

Ed Hutchinson, Managing Director of HBD, said: "This site is extremely well located within an established South East industrial location with neighbouring occupiers including Ocado, Aldi and ATS Euromaster and offers excellent potential for redevelopment. During the year we have been successful in seeking new development opportunities and we look forward to announcing further deals in the coming weeks."

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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