TIDMBOOT
Boot(Henry) PLC
07 March 2022
07 March 2022
HENRY BOOT PLC
('Henry Boot' or 'the Group')
HENRY BOOT COMMENCES GBP66 MILLION SPECULATIVE OFFICE
DEVELOPMENT IN MANCHESTER TO CAPTURE STRONG DEMAND FOR REGIONAL
OFFICES
Henry Boot PLC announces that its property investment and
development business, HBD, alongside its 50:50 joint venture
partner, Greater Manchester Pension Fund (GMPF), has commenced on
the Island, a GBP66m GDV speculative office development.
Located in a key site in Manchester city centre's prime core,
Island will see the sustainable redevelopment of a 10-storey
building into c.100,000 sq ft of net zero carbon, smart-enabled
office accommodation. The building is targeting the highest
sustainability certifications, including an EPC 'A' rating, BREEAM
Excellent and a 5.5 star carbon NABERS rating.
Bowmer + Kirkland has been appointed the main contractor to
build the scheme, with construction of the Cartwright Pickard
designed scheme scheduled to commence this month with practical
completion due in summer 2024.
Close to both Spinningfields and St Peter's Square in Manchester
city centre, Island is surrounded by an abundance of leisure and
dining amenities and public transport connections. Manchester's
office letting market remained robust throughout the pandemic, with
prime space continuing to be in demand. Availability of offices
with outstanding ESG credentials is particularly scarce, with a
number of corporates seeking a regional base only considering
offices that meet the highest sustainability standards, which
Island's net zero carbon proposition satisfies.
HBD, led by strong customer demand and in line with its
strategic target, continues to build up its committed development
programme, the vast majority of which is either pre-let or
pre-funded.
Ed Hutchinson at HBD, commented: "Our decision to speculatively
develop Island is a real statement of intent, and demonstrates our
confidence not only in Manchester but in the future of workspace
more broadly. While working patterns have evolved, demand for
high-quality, well-located office space remains robust. Targeting
the highest sustainability standards, the project's innovative
design, combined with its people-focused and 'smart' office space,
align perfectly with the enhanced standards the modern occupier
demands."
Councillor Brenda Warrington, Chair of GMPF said: "The start of
work on site at Island is a major landmark for the development and
the Manchester City Centre office market. As the next generation of
office accommodation reflecting new ways of flexible working, our
ambition is to achieve zero carbon and provide the highest levels
of accessibility required by future occupiers. Funding from GMPF to
projects such as this, meets our twin aims of achieving a good
return for our members' pensions, whilst also delivering a positive
economic and social regeneration impact on the city."
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
Tel: 020 7260 1000
Peel Hunt LLP
Joint Corporate Broker
Charles Batten/Harry Nicholas
Tel: 020 7418 8900
FTI Consulting
Financial PR
Giles Barrie/ Richard Sutherland
020 3727 1000
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:
Henry Boot Developments Limited (HBD) , Stonebridge Homes
Limited
Construction:
Henry Boot Construction Limited , Banner Plant Limited , Road
Link (A69) Limited
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
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