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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Henry Boot | LSE:BHY | London | Ordinary Share | GB0001110096 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 235.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBOOT
Boot(Henry) PLC
10 August 2020
10 August 2020
HENRY BOOT PLC
('Henry Boot' or 'the Group')
Acquisition of site in Manchester
Henry Boot PLC has acquired a key site in Manchester's St John's district, from The LTE Group through its development business HBD.
This site presents a further development opportunity in a thriving, growing and successful city, in which the Group is already developing several high-profile projects. After monitoring this building for some time, the Group has secured a promising development opportunity which gives optionality to either refurbish or redevelopment at a total end price based on phased payment of cGBP10m.
The Group will gain vacant possession of the building following relocation of Manchester College, part of The LTE Group, in late 2022. Prior to this, Henry Boot will receive rental income from the college whilst working on the project's redevelopment plans. Subject to planning, the site could have capacity to develop up to 170,000 sq ft.
Henry Boot will remain prudent in its investments to protect its strong financial position during the current pandemic. However, with committed schemes already 90% pre-let or pre-sold, the Group can focus on securing new opportunities. Looking ahead, replenishing the development pipeline, which currently consists of residential, industrial and logistics, and urban regeneration development opportunities, will remain a focal point.
Ed Hutchinson, MD of HBD, said: "This is an exciting addition to the Groups development pipeline. The building offers flexibility in its redevelopment and we look forward to progressing our plans, as we continue to play our part in the regeneration of Manchester."
-ends-
Enquiries:
Henry Boot PLC
Tim Roberts, Chief Executive Officer
Darren Littlewood, Group Finance Director
Daniel Boot, Group Communications & Brand Coordinator
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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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(END) Dow Jones Newswires
August 10, 2020 05:00 ET (09:00 GMT)
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