Henry Boot Completes £9.5 Million Sale of Industrial Park Following Strategic Redevelopment
Henry Boot PLC has announced the successful sale of its TWO45 industrial business park in Skelmersdale, Lancashire, for £9.5 million. The transaction was completed by its property investment and development division, HBD, and acquired by an undisclosed European real estate investor. The sale follows a comprehensive value-add strategy executed over the past three years.
The ten-acre site, located close to key transport routes including the M58 and M6 motorways, was originally acquired by HBD in 2021. At the time, it comprised three warehouse units totaling 117,800 square feet, along with 30,000 square feet of multi-let office space. Through targeted asset management initiatives, HBD increased the site’s annual rental income by 33%, reaching £518,000.
A significant milestone in the project came in November 2024, when HBD secured planning consent for a new 245,000 square foot industrial unit. This redevelopment approval represents a 66% increase in total floorspace, substantially enhancing the park’s long-term value and development potential.
The transaction has delivered an ungeared internal rate of return of 25% per annum, underscoring the effectiveness of HBD’s proactive asset management and planning-led development approach. The sale marks the culmination of a clear and well-executed business plan aimed at unlocking both income and capital value.
“This sale represents a highly successful conclusion to our business plan for TWO45,” said Henry Boot CEO Tim Roberts. “Through a combination of rental growth and planning gain, the HBD team has created significant value, while positioning the site for future sustainable industrial development.”
Although Henry Boot’s share price remained unchanged at 217.00 pence on Monday morning, the stock has seen a 4.8% increase over the past year, reflecting continued investor confidence in the group’s strategic focus on industrial and logistics-led opportunities across the UK.
