Boot(Henry) PLC Henry Boot Completes Sale of Logistics Unit
August 03 2022 - 1:00AM
RNS Non-Regulatory
TIDMBOOT
Boot(Henry) PLC
03 August 2022
3 August 2022
HENRY BOOT PLC
('Henry Boot' or 'the Group')
HENRY BOOT COMPLETES SALE OF YORKSHIRE LOGISTICS UNIT FOR GBP11.
35 MILLION
Henry Boot has announced that its property investment and
development business, HBD, has completed the sale of a 65,000 sq ft
warehouse unit at the Group's flagship Wakefield Hub logistics
development in Yorkshire for GBP11.35m, representing a 23% premium
to last reported book value.
In 2018, HBD agreed to forward fund its Joint Venture at
Wakefield Hub in the building of the unit following a 20-year pre
let to Kitwave, who took occupation earlier this year. The unit has
subsequently been acquired by ABRDN, with the sale price reflecting
a net initial yield of 3.27%.
Wakefield Hub is a 200-acre industrial and logistics development
being delivered by a Joint Venture between HBD and Yorkcourt. A
nationally important logistics site, it is capable of accommodating
more than 1.5 million sq ft of warehouse facilities, benefiting
from a strong distribution location at Junction 30 of the M62, with
direct links to the M1.
The Kitwave unit covers four acres of the scheme and was
completed to a 'BREEAM Very Good' standard, with 80 car parking
spaces and 24 lorry bays sitting alongside the purpose-built
distribution facility.
Tim Roberts, CEO of Henry Boot PLC, commented: "The high quality
of product being delivered by HBD at Wakefield Hub is evidenced
through this disposal. The Kitwave warehouse presents a highly
attractive investment proposition due to the asset's quality and
specification, its covenant strength, and strategic location.
Wakefield has cemented itself as a key destination for national
logistics operators, while a shortage of Grade A space locally
supports the resilience of demand at this flagship scheme as HBD
continues to progress its delivery and maximise its potential."
-ENDS-
Enquiries:
FTI Consulting
Ph: 020 3727 1000
Email: henryboot@fticonsulting.com
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
Ben Stoop / Will Rance
Tel: 020 7260 1000
Peel Hunt LLP
Joint Corporate Broker
Charles Batten / Harry Nicholas
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
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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