Boot(Henry) PLC Henry Boot announces GBP5.8 million acquisition
May 07 2021 - 2:00AM
RNS Non-Regulatory
TIDMBOOT
Boot(Henry) PLC
07 May 2021
7 May 2021
HENRY BOOT PLC
('Henry Boot' or 'the Group')
Henry Boot announces GBP5.8 million Manchester acquisition
Henry Boot has purchased a multi-let industrial estate on the
edge of Manchester City Centre for GBP5.8 million, with the price
reflecting a net initial yield of 4.1%.
The Group's property development business, HBD, has acquired
City Court, a 26,900 sq. ft. industrial estate located on Poland
Street in the city's Ancoats neighbourhood, from vendors Urban
Splash and Pears Group. The property is fully let to eight tenants,
including Ticketmaster UK and Sky Telecommunications Services.
The estate has a low average rent per square foot of under GBP10
and offers good rental growth and asset management opportunities.
In the medium term the Group will also explore the opportunities
for a significant urban residential development.
The acquisition will be retained in the Group's investment
portfolio and forms a part of Henry Boot's core strategy of
targeting industrial and logistics, residential and urban
development schemes.
Ed Hutchinson, managing director of HBD, said: "City Court is
the latest in a series of strategic acquisitions in 2021 for Henry
Boot. The property is situated on a 1.3-acre site which forms part
of the Ancoats and New Islington Neighbourhood Development
Framework presenting an opportunity for future urban residential
development."
ends-
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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