Boot(Henry) PLC Henry Boot to get underway with 44-acre project
April 30 2021 - 1:00AM
RNS Non-Regulatory
TIDMBOOT
Boot(Henry) PLC
30 April 2021
30 April 2021
HENRY BOOT PLC
('Henry Boot' or 'the Group')
Henry Boot to get underway with 44-acre Walsall project
Henry Boot has announced a major milestone on one of the West
Midlands' largest development projects, with Phoenix 10 given
approval at planning committee subject to a limited number of
matters.
The Group's property development business, HBD, is delivering
Phoenix 10, a GBP114m GDV industrial and logistics scheme, on
behalf of partners Walsall Council, Homes England and the West
Midlands Combined Authority. The Black Country LEP has provided
grant funding for the completion of remediation works.
The planning approval at the 44-acre scheme will provide up to
620,000 sq. ft. of employment space, driving inward investment and
creating circa 1,000 new jobs. Visible from the M6 and accessed via
Junction 9 and 10, it is one of the region's best located schemes
and is expected to attract strong interest from potential
occupiers.
Given its industrial past, the Walsall scheme requires extensive
remediation works ahead of construction commencing, with the works
planned to begin in Q3 2021.
Henry Boot continues to prudently seek out new investments to
build its development pipeline which comprises three long-term
markets: urban commercial, urban residential and industrial and
logistics.
Ed Hutchinson, managing director of HBD, said: "The largest
undeveloped brownfield site in the Black Country, Phoenix 10
presented an exciting opportunity for the Group. We will be drawing
on our extensive expertise and track record in delivering
large-scale employment sites to create a scheme that drives inward
investment and supports a thriving regional economy."
ends-
Notes to the editor
Henry Boot PLC exchanged contracts with Walsall Council and
Homes England on Phoenix 10 in November 2020. The 44-acre
development scheme, located in Walsall, will be delivered by the
Group's property development business, HBD, in partnership with
Walsall Council and Homes England. This is the next milestone in
the development allowing the Group to draw down funding for the
remediation works.
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 130 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:
Henry Boot Developments Limited (HBD) , 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
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