Henry Boot completes £9.5m sale of prime logistics site
Why we think this is good
The sale of the TWO45 logistics site represents a successful conclusion to Henry Boot's business plan for the property, with a 25% internal rate of return. This indicates strong asset management and value creation for the company. The sale price of £9.5m is also significant compared to the company's market capitalization, suggesting a positive financial outcome.
Key Points
- Henry Boot has completed the £9.5m sale of TWO45, a multi-let industrial led business park in Skelmersdale
- The sale represents a successful conclusion to the group's business plan for the property, with a 25% internal rate of return
- The new buyer will take the lead on the planned 245,000 sq ft industrial unit development at the site
Summary
Henry Boot has completed the sale of TWO45, a multi-let industrial led business park in Skelmersdale, to a European real estate developer for a total of £9.5m. The sale represents a highly successful conclusion to the group's business plan for the property, with an ungeared internal rate of return of 25% p.a. The sale price of £9.5m is significant compared to Henry Boot's market capitalization of £290.26m.