Subject to planning the site will be redeveloped to deliver 70,000 sq ft of industrial/warehouse space with a GDV of £20m. Construction work is anticipated to start on site in Q2 2022.
The three 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).
The acquisition forms part of Henry Boots’s core development strategy targeting industrial and logistics, urban residential and commercial schemes.
Ed Hutchinson, Managing Director of HBD, 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.”