Henry Boot completes £8.6m sale of retail asset
Henry Boot PLC has completed the sale of a retail asset in Warminster, comprising a supermarket and three adjoining units anchored by Waitrose, for £8.6 million. This disposal, which generated a net initial yield of 6.6% and was at a premium to its book value, reflects the group's strategy to recycle capital from its investment portfolio to fund future growth opportunities. The property, developed in 2012, is fully let with Waitrose accounting for 82% of the income and a weighted average unexpired lease term of 10.9 years.
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Henry Boot announces that HBD, the group's property investment and development arm, has completed the sale of a supermarket and three adjoining retail units anchored by Waitrose, in Warminster, to a UK real estate investment trust for £8.6m.
The purpose-built 29,350 sq ft property is fully let and is located on a two-acre site on the edge of Warminster town centre. HBD completed the development in 2012.
Since completion, the property has been held within Henry Boot's investment portfolio. Waitrose accounts for 82% of the income, with the weighted average unexpired lease term 10.9 years (10.4 years to first break).
The sale represents a net initial yield of 6.6% and at a premium to the 31 December 2025 book value.
Tim Roberts, CEO at Henry Boot, commented: "This disposal reflects the group's focus on recycling capital from its investment portfolio, ensuring we remain well positioned to deploy capital to continue generating long‑term returns. We will continue to be patient in building back the value of the investment portfolio through high‑quality projects such as Origin, in line with our medium‑term target."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.