Henry Boot to develop £162m pioneering aviation innovation campus at IWM Duxford
Henry Boot announces that HBD, the group's property investment and development arm, has been appointed by Imperial War Museums (IWM) and Gonville & Caius College, a constituent college of the University of Cambridge, as development partner for Duxford Av Tech.
The 25-acre site is located 8 miles south of Cambridge city centre within the economically significant Oxford-Cambridge Arc, offering excellent transport links with access to Junction 10 of the M11.
The project totals 435,000 sq ft with a gross development value of £162 million and is set to create an aviation technology campus that will be at the intersection of academia, industry and government, dedicated to developing low and zero carbon aircraft technology at IWM Duxford. HBD is targeting high sustainability credentials for the new campus, including BREEAM Excellent and an EPC A+ Rating.
Duxford AvTech is projected to deliver significant economic, environmental and social benefits, including 1,200 new jobs and an estimated £64 million in additional gross value added to the Cambridgeshire economy. The next step will be to prepare detailed development plans and engage with partners with the aim of submitting a planning application before the end of the year.
This scheme expands on HBD's innovation capabilities, following recent approval for the first phase of £1 billion Golden Valley scheme in Cheltenham, which will create approximately 1 million sq ft of prime commercial space, including IDEA, the 160,000 sq ft National Cyber Innovation Centre, as well as 576 residential units of various tenures.
Tim Roberts, CEO at Henry Boot, commented: "HBD's appointment at Duxford AvTech represents another important milestone for our property investment and development business. This is a transformative scheme that will unlock meaningful opportunities for the local economy and further strengthen Cambridge's position as a global hub for research and innovation. We look forward to working alongside IWM and Gonville & Caius College to deliver this world-class advanced aviation technology cluster ."
Notes to editors
Henry Boot is one of the UK's leading land, property development, home building and construction businesses - and we've been transforming land and spaces since 1886. Listed on the London Stock Exchange since 1919, we're renowned for quality, expertise, delivery and a partnership approach across the group - which comprises, Hallam Land, HBD, Stonebridge, Henry Boot Construction, Banner Plant and Road Link.
Operating across the UK, and employing over 500 people, we focus on three key markets: urban development, industrial and logistics and residential. Hallam Land manages one of the top five largest land portfolios in the country, with the potential to facilitate over 100,000 homes. HBD manages a development pipeline of £1.2bn, the equivalent of 6m sq ft of developments across our key markets, while maintaining a £107m investment portfolio, of which 72% of the properties have an EPC rating of 'C' or higher. Stonebridge, our jointly owned home building business, manages a land portfolio capable of delivering 1,700 homes, with an ambition to deliver up to 600 new homes a year.
Henry Boot Construction has extensive experience in both the public and private sectors, including major projects such as the £200m regeneration of Barnsley town centre, and The Cocoa Works, a £57m residential development in York. For over 65 years, Banner Plant has supplied construction products and services, operating from seven regional depots in the North of England.
We have also developed an ambitious Responsible Business Strategy to help us meet our aim of being Net Zero Carbon by 2030, and to deliver, by 2025, charitable, community and education work valued at £1m.
From land promotion, property development and investment to home building, construction and plant hire, Henry Boot is where great places start.
Enquiries
FTI Consulting
Richard Sunderland / Giles Barrie
07894 797067 / 07798 926814
Henry Boot PLC
Tim Roberts, Chief Executive Officer
Darren Littlewood, Chief Financial Officer
Daniel Boot, Senior Corporate Communications Manager
07825 088807
henryboot.co.uk
Deutsche Numis
Joint Corporate Broker
Ben Stoop
0207 260 1000
Peel Hunt LLP
Joint Corporate Broker
Ed Allsopp / Pete Mackie
0207 418 8900
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