Henry Boot gets planning permission for Manchester office project

8th Mar 2024 14:42

(Sharecast News) - Henry Boot announced on Friday that its HBD development arm has secured planning consent for a significant office project in Manchester's city centre.

The London-listed firm said the venture, named Colloco, would encompass 200,000 square feet across 16 stories, positioned in the St John's District.

Designed with sustainability as a priority, the office scheme aimed for top-notch flexibility and efficiency, targeting EPC A and BREEAM Excellent ratings.

In its trading update on 23 January, Henry Boot reported that HBD exceeded expectations in the financial year ended 31 December.

Notably, completed projects under HBD's umbrella reached a gross development value of £126m, all of which had been either pre-let or pre-sold amid robust demand.

The selection of Manchester's St John's District for the Colloco project was strategic, Henry Boot said, given its proximity to Spinningfields, a key area for the city's media, technology, and creative sectors.

Moreover, the recent addition of the Aviva Studios in 2023 further solidified the area's status as a hub for arts and innovation.

"We are seeing encouraging demand for best-in-class and sustainable offices in England's core cities from potential customers who see collaboration and the health and wellbeing of their employees as fundamental to their future success," said chief executive officer Tim Roberts.

"Winning planning consent for Colloco takes us another step towards satisfying that strong demand."

At 1243 GMT, shares in Henry Boot were up 0.77% at 182.4p.

Reporting by Josh White for Sharecast.com.