City projects see Henry Boot profits hit nearly £40m
Henry Boot Developments is celebrating one of the busiest years in its history, with the announcement of financial results that revealed a group-wide increase in revenue of 74% and profit before tax of £39.5m.
Henry Boot Developments’ Manchester business has grown significantly in recent years, with the firm investing heavily in the city.
It’s flagship project in Manchester is Kampus, its £250m joint venture with Capital & Centric that will see the creation of a landmark mixed-use development at Aytoun Street. Demolition at the site has started.
Along with Kampus, the developer is currently refurbishing and extending former silk works, Invicta House in Spinningfields – a £15m project that will see the building renamed The Silk Works.
The company is also well-known for its redevelopment of the landmark Grade II-listed Courthouse building on Deansgate. Previously semi-derelict, it has been restored and extended, providing office accommodation and some of the city’s most interesting restaurant space, now home to Hawksmoor.
Adam Brady, director and head of the Manchester office at Henry Boot, said: “2016 was an incredible year for us in Manchester. We’ve seen several exciting schemes begin to take shape, including our Kampus development – a real game-changer – plus our Silk Works scheme, a beautiful building that is important to Manchester’s history and heritage.
“Bringing heritage spaces back to life and creating amazing spaces is something we’ve been doing successfully in Manchester for some years now.
“We’re really positive about the coming year and our continued strong performance, and look forward to delivering more exciting schemes in Manchester. We’re actively looking for new development opportunities where we can add real value, whether in our own right or in joint venture with others.”
During 2016 Henry Boot Developments built out 875,000sq ft space, pre-funded £600m worth of development and entered into £306m worth of development contracts.
