6th Jan 2026 11:27
(Alliance News) - Henry Boot PLC on Tuesday said it has added three new industrial and logistics schemes to Origin, its joint venture with Feldberg Capital, expanding the partnership's development pipeline by a further 262,000 square feet.
The Sheffield, England-based construction and property development business said its property investment and development arm, HBD, has transferred the projects into the Origin joint venture, which focuses on UK industrial and logistics assets.
The three schemes have a combined gross development value of GBP56 million, of which Henry Boot's share is GBP14 million.
The new additions comprise Spark in Walsall, Aptus in Preston and Ark in Markham Vale. Together, the schemes will deliver 262,000 square feet of industrial and logistics space.
Construction across all three developments is scheduled to begin by the end of January 2026, with completion expected in the second half of 2026.
Spark in Walsall is a six-acre site near junctions 9 and 10 of the M6, with a GBP25 million GDV. Detailed planning consent was secured in September 2025 for 101,000 square feet across three units.
Aptus in Preston represents the second phase of a scheme near junction 31a of the M6, transferred into Origin in December 2025, with a GDV of GBP22 million and 107,000 square feet across three units.
Ark at Markham Vale is a three-acre site adjacent to junction 29A of the M1, with a GBP9 million GDV and planning consent in place for a single 54,000 square foot unit.
Origin was launched in December 2024 and seeded with three initial projects totalling 449,000 square feet and a combined GDV of GBP100 million, of which Henry Boot's share was GBP25 million.
The company said Origin has already secured lettings, including a 17,000-square-foot pre-let at Markham Vale to Capital Angling in August 2025 and an 18,000-square-foot lease at Welwyn Garden City to Perfect Group in November 2025.
Henry Boot holds a 25% stake in the Origin joint venture, with Feldberg Capital owning the remaining 75%. HBD acts as development manager and Feldberg as investment manager, with both parties eligible to share a performance-related promotion fee subject to hurdle rates.
The joint venture was established to deliver around GBP1 billion of sustainable industrial and logistics developments across the UK over the medium term.
In January 2025, Origin secured a GBP54 million development loan from BGO to fund its initial assets, which has since increased to GBP85 million following the addition of further schemes.
Shares in Henry Boot were up 1.4% at 219.00 pence in London on Tuesday morning.
By Eva Castanedo, Alliance News reporter
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