Listed developer acquires city centre properties
Construction and property group Henry Boot has acquired 60,000 sq ft across two buildings in Mabgate, Leeds, a prime redevelopment area.
The acquisition by HBD, the firm’s own property development business, will see the complete redevelopment of the buildings and could add further potential to the Group’s urban development and residential capabilities.
The buildings have been purchased from owner occupier, Cohen & Wilks, in what the Leeds City Council has already identified as a key area for renewal.
Henry boot adds it will continue to seek out new investments to replenish its £1.4bn development pipeline, which is made up of three long-term markets: residential, industrial and logistics, and urban development.
HBD managing director, Ed Hutchinson, said: “The buildings have massive potential for urban development, which is a key focus for us.
“There is significant investment being channelled into Mabgate and we look forward to putting our own plans together to support the wider regeneration programme.”
Adam Brady, national head of regeneration at HBD, said: “This is a great site with massive potential – city centre regeneration is a key focus for HBD, and this scheme will no doubt be the first of many in Leeds.”
Tom Wheldon, director and head of HBD’s Leeds office, said: “This is an exciting addition to our Yorkshire development pipeline – Mabgate is a distinctive area with a rich industrial and creative arts history.
“Given the site’s proximity to Leeds city centre, we identified a great opportunity to complement its vibrant existing community and reposition the mix of uses on the site for the next chapter in Mabgate’s evolution.”
HBD opened its Leeds office in January. It has since grown its team to eight and has continued to expand its development pipeline across Yorkshire and the North East.
