Business
Origin JV Expands with 262,000 sq ft of I&L Space
Henry Boot's property arm, HBD, has added three industrial and logistics schemes totaling 262,000 sq ft with a combined gross development value of £56 million to its Origin joint venture with Feldberg Capital, increasing Henry Boot's share to £14 million. These projects, including Spark in Walsall, Aptus in Preston, and Ark at Markham Vale, are scheduled for construction commencement by January 2026 and aim for high ESG credentials. The Origin JV, established in December 2024 with an initial £100 million GDV, has already seen its first three projects completed on time and budget, with secured lettings indicating strong occupier interest. The JV, in which HBD holds a 25% stake, has secured an increased development loan of £85 million from BGO and aims to deliver approximately £1 billion of industrial and logistics space across the UK. Disclaimer*
About this update from Henry Boot Plc
[{"type":"text","content":"\n\nHenry Boot and Feldberg Capital add 262,000 sq ft of industrial & logistics space to Origin JV\n \nHenry Boot announces that HBD, the group's property investment and development arm, has added a further three schemes with a combined GDV of £56m (Our share: £14m) into Origin, its industrial and logistics (I&L) joint venture with Feldberg Capital.\n \nThe three projects total 262,000 sq ft of prime I&L space and are targeting market leading ESG credentials, including BREEAM 'Excellent' and EPC 'A' ratings. Construction on each development is scheduled to commence by the end of January 2026, with delivery from H2 2026. The schemes include:\n \n1. Spark, Walsall: A six acre site with a £25m GDV, located at junctions 9 and 10 of the M6. Detailed planning consent was secured in September 2025 for 101,000 sq ft across three units.\n \n2. Aptus, Preston: The second phase of the scheme near junction 31a of the M6, previously held in JV with Barnfield Construction Limited, was transferred to Origin in December 2025. The £22m GDV scheme totals 107,000 sq ft across three units.\n \n3. Ark, Markham Vale: A three acre site adjacent to junction J29A of the M1, with a £9m GDV. In October 2025, a resolution to grant planning permission was secured for a 54,000 sq ft unit.\n \nWhen launched in December 2024 the Origin JV was seeded with three projects: Spark, Walsall (271,000 sq ft), Ark, Markham Vale (107,000 sq ft) and Inter, Welwyn Garden City (71,000 sq ft). These projects were transferred from HBD's development pipeline and have a total GDV of £100m (Our share: £25m).\n \nAll three initial projects have reached practical completion on time and budget. We are attracting good occupier interest and have already secured lettings. In August 2025, Origin pre-let a 17,000 sq ft unit at Markham Vale to Capital Angling, and in November 2025, an 18,000 sq ft unit was leased to Perfect Group at Welwyn Garden City.\n \nOrigin was established with the intention, subject to market conditions, to deliver c.£1bn of high quality and sustainable I&L schemes across the UK over the medium term. HBD holds a 25% share of the JV, with Feldberg representing 75%. In January 2025, the JV secured a £54m development loan from BGO to fund the acquisition and development...