Henry Boot announces that HBD, the group’s property investment and development arm, has completed the sale of a supermarket and three adjoining retail units anchored by Waitrose, in Warminster, to a UK real estate investment trust for £8.6m.
The purpose-built 29,350 sq ft property is fully let and is located on a two-acre site on the edge of Warminster town centre. HBD completed the development in 2012.
Since completion, the property has been held within Henry Boot’s investment portfolio. Waitrose accounts for 82% of the income, with the weighted average unexpired lease term 10.9 years (10.4 years to first break).
The sale represents a net initial yield of 6.6% and at a premium to the 31 December 2025 book value.
“This disposal reflects the group’s focus on recycling capital from its investment portfolio, ensuring we remain well positioned to deploy capital to continue generating long term returns. We will continue to be patient in building back the value of the investment portfolio through high quality projects such as Origin, in line with our medium term target.”
Tim Roberts, CEO at Henry Boot
