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Boot (Henry) to Begin 44-Acre Project

This content has been sourced from: https://www.investegate.co.uk/boot-henry--plc--boo...

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 £114m 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."