HBD announces new JV targeting UK tech sector

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

HBD announces new JV targeting UK tech sector

Henry Boot's property development business, HBD, and international tech campus developer, Factory, are to form a new joint venture, HBD X Factory, targeting the UK tech sector.

HBD X Factory has been selected as preferred bidder to deliver 45-ha at Cheltenham Borough Council's Golden Valley Development.

The Golden Valley Development covers 200-acres and is expected to create 12,000 new jobs, 3,700 new homes and 2million sq. ft. of commercial space, with Cyber Central UK at the heart of a visionary integrated campus focused on cyber and digital innovation.

The project builds on the presence of GCHQ's headquarters and Cheltenham's existing cyber sector, with the first phase delivering an innovative, mixed use community clustered around Factory's first project of scale in the UK - Factory Cheltenham - which will sit alongside GCHQ.

HBD X Factory will continue to explore new opportunities across the UK, including acquisitions and public/private partnerships with local authorities and other strategic landowners, as it targets large-scale, mixed-use districts and urban regeneration projects with a focus on innovation.

Ed Hutchinson, Managing Director of HBD, said: "The HBD X Factory partnership reflects our focus on delivering large-scale, transformative regeneration projects - the Golden Valley Development is a hugely important project for Cheltenham, the South West region and the wider UK tech sector and we look forward to working alongside Factory to bring the scheme forward."

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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