23 May 2024
HENRY
BOOT PLC
('Henry
Boot' or 'the Group')
HENRY BOOT AGREES SALE OF
RETIREMENT DEVELOPMENT ON FORMER TERRY'S CHOCOLATE FACTORY SITE TO
MCCARTHY STONE
Henry Boot announces that its
property investment and development arm, HBD, has agreed a
conditional sale of a two acre development site at The Chocolate
Works in York to McCarthy Stone, the UK's leading developer and
manager of retirement communities.
HBD and McCarthy Stone entered a
partnership in 2019 and have subsequently promoted the site through
the planning process together, achieving consent on appeal in March
2024 for a 72-home Retirement Living PLUS scheme. HBD will now work
with McCarthy Stone to finish preparing the site for development,
in line with its remaining contractual obligations, which is
anticipated to complete in Q4 2024. McCarthy Stone will solely lead
on the development of the purpose-built retirement
accommodation.
The new retirement community marks
the final phase of HBD's award winning 27 acre development, which
included the transformation of the former 160,000 sq ft Terry's
Chocolate factory into 163 premium apartments, delivering a total
GDV of £110 million across seven schemes during the last decade.
The wider site is also now home to the Brainkind Neurological
Centre, which supports people recovering from complex brain
injuries.
Tim
Roberts, CEO of Henry Boot, commented: "Securing planning permission and agreeing the sale to
McCarthy Stone of the last remaining land site at The Chocolate
Works will bring much needed retirement living in York, helping
address the huge demand for specialist retirement accommodation
that exists right across the country. By adding retirement
accommodation, which will also offer tailored levels of care,
alongside the residential and other uses we have developed at the
site, helps achieve our goal of creating a deep and
multi-generational community at this transformed former factory. In
addition, it brings HBD's award winning work on this significant
project to a close while representing a strong outcome for our
shareholders."
-ENDS-
Enquiries:
FTI
Consulting
Richard Sunderland/Giles
Barrie
Tel: 0789 479 7067 / 0779 892
6814
Email: henryboot@fticonsulting.com
Henry Boot PLC
Tim Roberts, Chief Executive
Officer
Darren Littlewood, Chief Financial
Officer
Daniel Boot, Senior Corporate
Communications Manager
Tel: 0114 255 5444
www.henryboot.co.uk
Deutsche Numis
Joint Corporate Broker
Ben Stoop
Tel: 020 7260 1000
Peel
Hunt LLP
Joint Corporate Broker
Ed Allsopp / Charles
Batten
Tel: 020 7418 8900
About Henry Boot PLC
Henry Boot PLC (BOOT.L) was
established over 135 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 possesses a high-quality
strategic land portfolio, a proven reputation in the property
development market for creating places with purpose, backed by a
substantial investment property portfolio and an expanding, jointly
owned, housebuilding business. It has a construction specialism in
both the public and private sectors, a plant hire business, and
generates strong cash flows from its PFI contract, Road Link (A69)
Limited.
www.henryboot.co.uk
