Markham Vale

RNS Number : 2979Q

Boot(Henry) PLC

18 June 2020

 

18 June 2020

HENRY BOOT PLC

('Henry Boot' or 'the Group')

Henry Boot PLC, a company engaged in land promotion, property investment and development, and construction, announces that it will begin work this week on two additional units comprising of 297,000 sq. ft at its industrial scheme, Markham Vale.

Located off Junction 29A of the M1 in Derbyshire, Markham Vale is a joint venture between Henry Boot's property development subsidiary HBD and Derbyshire County Council. The site has the capacity to deliver over 2.5m sq. ft., with over 2m sq. ft. completed to date.

Henry Boot will bring forward two speculative units of 222,000 sq. ft. and 75,000 sq. ft, with both being fully-funded by Aver Property Partnership Limited, a joint venture between Ergo and NFU Mutual in a circa £25m deal.

A total of 225,000 sq. ft. now remains at Markham Vale, which can accommodate flexible design and build options up to 40,000 sq. ft.

Tim Roberts, Chief Executive Officer said, "We are delighted to start work on these additional industrial units at Markham Vale. These units are being delivered from our c.£1.6bn development opportunity pipeline which gives the Group ample opportunities for the future."

Ed Hutchinson, Managing Director of HBD, said: "After another successful 12 months for Markham Vale, I am pleased to see another scheme begin to start and look forward to extending the scheme further with these latest units."

Martin Jepson, Founding Partner of Ergo Real Estate, said: "Well-located, high-quality industrial stock will perform well in both the short and long-term - particularly within landmark schemes like Markham Vale, which benefits from proven longevity and appeal."

Derbyshire County Council Cabinet Member for Clean Growth and Regeneration Councillor Tony King said: "This investment in Markham Vale shows a great level of confidence in the Derbyshire economy and its potential for growth. I'm pleased that the construction contract has been awarded to a local business providing a further boost for the area and the local economy."

Enquiries:

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Group Finance Director

Tel: [phone]

www.henryboot.co.uk

Numis Securities Limited

Joint Corporate Broker

Garry Levin/George Fry

Tel: [phone]

Peel Hunt LLP

Joint Corporate Broker

Charles Batten/Harry Nicholas

Tel: [phone]

Hudson Sandler LLP

Financial PR

Nick Lyon/Wendy Baker

Tel: [phone]

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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