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Henry Boot Plc - Phoenix 10 Development Scheme

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

HENRY BOOT PLC

('Henry Boot' or 'the Group')

Contracts exchanged and plans outlined for Phoenix 10 development scheme

Henry Boot PLC has exchanged contracts with Walsall Council and Homes England on one of the largest regeneration projects in the West Midlands.

The new £73m GDV development scheme, known as Phoenix 10, is located in Walsall and will be delivered by the Group's property development business, HBD, in partnership with Walsall Council and Homes England. The 44-acre development project is the largest undeveloped plot in the Black Country and is set to become a centre for enterprise with up to 620,000 sq. ft. of industrial and logistic space, attracting new jobs and investment to the region.

Phoenix 10 is another long-term opportunity in Henry Boot's industrial and logistics offering, which currently makes up approximately 74% of the £1.4bn development pipeline. The scheme has prime distribution access to the M6 via Junction 9 and is capable of delivering units ranging from 21,000 sq. ft. to 415,000 sq. ft.

Henry Boot's strong financial position and long-standing experience in delivering large scale development projects, leaves the Group well placed to deliver another significant opportunity from its £1.4bn development pipeline.

Ed Hutchinson, Managing Director of HBD, said: "This is one of the most significant employment schemes coming forward in the West Midlands - both in terms of scale and its potential to drive business growth and is a great opportunity to bring new investment into the area. We look forward to getting started on this exciting project."