Henry Boot’s property developer, HBD, has acquired a prominent industrial site in Welwyn Garden City for £6.2m before costs from National Grid.
The 3.0-acre site on Tewin Road is located in a well-established industrial area of the city and close to Junction 4 of the A1(M) benefitting from close proximity to the wider national motorway network beyond. Subject to planning the site will be redeveloped to deliver c.70,000 sq ft of industrial/warehouse space with a GDV of c.£20m. Work is anticipated to start on site in Q2 2022.
The acquisition forms part of the Group’s core development strategy targeting industrial and logistics, urban residential and commercial schemes and it will continue to inject much-needed new industrial space into the market, meeting established demand.
“This site is extremely well located within an established South East industrial location with neighbouring occupiers including Ocado, Aldi and ATS Euromaster and offers excellent potential for redevelopment. During the year we have been successful in seeking new development opportunities and we look forward to announcing further deals in the coming weeks.”
Ed Hutchinson, Managing Director of HBD
