Henry Boot’s property developer, HBD, has acquired a prominent industrial site in Welwyn Garden City from National Grid for £6.2m before costs.
The 3.0-acre site on Tewin Road is located in a well-established industrial area of the city and close to Junction 4 of the A1(M).
HBD plans to redevelop the sites as a 70,000 sq ft industrial/warehouse scheme with a GDV of £20m. Work is anticipated to start on site in Q2 2022.
The firm said that the acquisition formed part of its core development strategy, targeting industrial and logistics, urban residential and commercial schemes and that it would “inject much-needed new industrial space into the market, meeting established demand”.
HBD managing director Ed Hutchinson said: “This site is extremely well located within an established South East industrial location with neighbouring occupiers including Ocado, Aldi and ATS Euromaster and offers excellent potential for redevelopment. During the year we have been successful in seeking new development opportunities and we look forward to announcing further deals in the coming weeks.”
See other industrial schemes in planning around Welwyn Garden City >>
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