Specifically, Henry Boot has entered the partnership through its property investment and development arm HBD.
Called Origin, this partnership will focus on ESG compliant industrial and logistic assets, predominantly in the mid-box market across the UK.
The intention is to deliver £1bn on such schemes over the next seven years. HBD and Feldberg will target market-leading ESG credentials for these opportunities, including EPC ‘A’ ratings and ‘Excellent’ BREEAM certification.
This £100m seed capital, 25% of which is from HBD, is spread across three sites.
These initial three sites will deliver around 450,000 sq ft prime industrial and logistics space with construction due to commence and complete within 2025.
The developments are Spark in Walsall, Inter in Welwyn Garden City and Ark in Markham Vale. These sites’ GDVs are £53m, 27m and £19m, respectively.
“The launch of this new industrial and logistics platform with Feldberg Capital is an important transaction for Henry Boot, allowing us to partner with a first-class international investor with the funds and ambition to invest alongside us into one of our key sectors,” said Tim Roberts, CEO at Henry Boot.
“At the same time, it enables us to accelerate our own £1.3bn industrial and logistics pipeline and in turn recycle capital more efficiently. We now look forward to fulfilling our significant ambitions for Origin alongside the team at Feldberg.”
David Turner, managing partner at Feldberg Capital, added: “Our aim is for Origin to become a market leader in the mid-box space.
“We’re excited to be working together with HBD, using our tried-and-tested ESG framework to deliver the next generation of units for modern, environmentally responsible occupiers, and driving strong risk-adjusted returns for our investors in the process.”
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