Henry Boot has announced that HBD, the group’s property investment and development arm, has formed a U.K.–focused industrial and logistics (I&L) platform, in joint venture with Feldberg Capital. The platform will be known as Origin.
Origin is immediately well capitalized and will own and develop next-generation, ESG-compliant I&L assets, predominantly in the mid-box market, across the United Kingdom. The venture will be seeded with an initial portfolio of three sites from HBD’s pipeline with a combined gross development value of £100 million ($127 million).
HBD has a 25 percent share of the joint venture, and Feldberg will hold a 75 percent share. HBD will be the development manager, receiving fees for doing so, and Feldberg will act as investment manager. Both parties have the potential to share a promote fee based on the joint venture’s internal rate of return subject to certain hurdle rates.
The three initial sites have the potential to deliv
