RCS - Boot(Henry) PLC - HENRY BOOT SECURES CONSENT AT INDUSTRIAL SCHEME

Henry BootAnnouncement

05/06/2024 07:00

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RNS Number : 1082R  Boot(Henry) PLC  05 June 2024

 

05 June 2024

HENRY BOOT PLC

('Henry Boot' or 'the Group')

HENRY BOOT TO DELIVER SPARK, A £110M LOGISTICS AND MANUFACTURING HUB
FOLLOWING PLANNING CONSENT

Henry Boot announces that HBD, the Group's property investment and development
arm, has secured Reserved Matters planning consent for three units totalling
464,000 sq ft at SPARK, Walsall, its £110m gross development value ("GDV")
industrial and logistical project.

 

The wider 620,000 sq ft SPARK project is being delivered in partnership with
Walsall Council, Homes England, West Midlands Combined Authority and Black
Country LEP. The former James Bridge Copper Works site, once the largest
undeveloped brownfield site in the Black Country, is currently undergoing
specialised remediation works, which HBD is set to complete in Q3 2024.

 

With optionality to draw down the land in phases, HBD is already seeing
occupier interest in this prime scheme and are aiming to begin construction on
the first of the three newly consented units in Q4 2024, with a target of
being ready for occupation in the summer of 2025. The first unit is expected
to add c.£40m to HBD's current £154m GDV committed programme.

 

Units at SPARK range from 20,000 sq ft to 254,000 sq ft, providing sustainable
space at the heart of the Midlands' world-class manufacturing and logistics
economy. Located adjacent to junctions 9 and 10 of the M6, it offers
market-leading infrastructure and power provision, alongside a strong local
skills base. Once the project has been fully developed, it will also be home
to a thriving employment scheme, creating as many as 1,100 jobs in the local
and surrounding area.

 

Tim Roberts, CEO of Henry Boot PLC, commented: "Industrials and logistics
remains one of our high conviction sectors and carrying out the specialised
remediation works and securing detailed planning for the first three units at
SPARK is testament to HBD's expertise in navigating an increasingly onerous
and complex planning system. We're already seeing good occupier interest in
the project, due to the lack of high-quality space with strong sustainability
credentials in prime Midlands locations, which gives us confidence that we
will have secured an occupier and started on site developing the first units
by the end of the year. This new logistics and manufacturing hub will add to
our growing industrial portfolio and replenish our committed development
programme."

 

Philippa Venables, Director of Regeneration and Economy at Walsall Council
said: "We are thrilled to see HBD progress with the Reserved Matters planning
for the first three units at SPARK, marking a significant milestone in the
development of this landmark logistics and manufacturing hub in Walsall. The
collaboration between HBD, Walsall Council, Homes England, West Midlands
Combined Authority, and Black Country LEP underscores our commitment to
driving economic growth and creating job opportunities in the region."

 

Mike Goulding, Development Director Central at Homes England, said: "This
marks an important step forward and adds further momentum to the SPARK
project. We are pleased to be working collaboratively, to drive forward a
project that will transform this large brownfield site into a sustainable
place that will increase employment opportunities in the area."

 

-ENDS-

Enquiries:

 

FTI Consulting

Richard Sunderland/Giles Barrie

Tel: 0789 479 7067 / 0779 892 6814

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

 

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Chief Financial Officer

Daniel Boot, Senior Corporate Communications Manager

Tel: 0114 255 5444

www.henryboot.co.uk

 

Deutsche Numis

Joint Corporate Broker

Ben Stoop

Tel: 020 7260 1000

 

Peel Hunt LLP

Joint Corporate Broker

Ed Allsopp / Pete Mackie

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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