HBD has added a further three schemes with a combined GDV of £56m into its Origin industrial and logistics joint venture with Feldberg Capital.
Construction of the three schemes, which will provide 262,000 sq ft of industrial and logistics space, is scheduled to commence by the end of this month with delivery from H2 2026.
The schemes comprise the £25m GDV Spark development in Walsall (pictured), which will provide 101,000 sq ft across three units; Aptus in Preston, which will provide 107,000 sq ft across three units; and Ark in Markham Vale where a 54,000 sq ft unit will be delivered.
The Origin JV launched in December 2024 and was seeded with three project transferred from HBD’s development pipeline. Origin was established with the intention, subject to market conditions, to deliver circa £1bn of high quality and sustainable I&L schemes across the UK over the medium term.
In January 2025, the JV secured a £54m development loan from BGO to fund the acquisition and development of the initial seed assets. This has since increased to £85m following the addition of new assets.
HBD – Henry Boot group’s property investment and development arm – holds a 25% share of the JV with Feldberg holding the remaining 75%.
Tim Roberts, CEO of Henry Boot, said: “By combining HBD’s development pipeline and operational capabilities with Feldberg’s investment management expertise, the JV is accelerating the delivery of Grade A industrial and logistics space across the UK. With the initial three assets already completed and leasing well this innovative partnership is creating value for our investors. We are also making good progress on executing the JV’s strategy, with the recent addition of new schemes to Origin replenishing our committed development programme.”
David Turner, managing partner at Feldberg Capital, added: “The addition of these new schemes to Origin underlines our confidence in the UK mid-box industrial and logistics sector, which continues to benefit from strong structural tailwinds. Occupier demand for well-located, energy efficient units remains strong and the market is still significantly undersupplied. These new projects give us real momentum as we continue to scale Origin and look for new opportunities across the UK.”
