HBD

What HBD does

HBD (legal entity Henry Boot Developments Limited) is the property development and investment arm of Henry Boot PLC, a publicly-listed UK group with origins dating to 1886. The firm specialises in industrial and logistics, residential, and urban development schemes across the United Kingdom, operating from six regional offices (Sheffield headquarters plus Manchester, Leeds, Birmingham, and London coverage). Its commercial development pipeline is valued at £1.40bn, encompassing 7.4 million sq ft of live schemes across 27 development partners, with over 80% of projects delivered through joint ventures with local authorities, pension funds (GMPF), and institutional investors (Barings, Feldberg Capital, York Court). Notable developments include the net-zero Island office in Manchester, the £1bn Golden Valley cyber and tech innovation campus in Gloucester, FREEPORT 36 in Goole, Wakefield Hub, Markham Vale, and SPARK in Walsall.

HBD's core technology and product offering centres on sustainable physical development rather than software. Technical differentiators include maximum photovoltaic panel coverage (up to 75% of roof space vs. industry standard 5–10%), enabling buildings to operate on 100% self-generated solar power, with surplus electricity sold to occupiers via Power Purchase Agreements at discounted wholesale rates. Delivered schemes target BREEAM Excellent, EPC A, and Net Zero Carbon standards. Notable technical certifications include the Island development's 5-star NABERS Independent Design Review rating. HBD also offers a Build-to-Rent residential product and has delivered build-to-rent schemes at Kampus in Manchester.

The business model combines three revenue streams: (1) one-time property development sales of completed industrial, logistics, residential, and urban schemes to occupiers and investors (pre-let or speculative); (2) recurring rental income from an investment property portfolio held long-term (exemplified by the Warminster Waitrose held since 2012 and divested in 2026 for £8.6m); and (3) JV development fees, promote income, and equity returns on minority stakes (typically 25%, e.g., Origin JV with Feldberg Capital, Island with GMPF). Go-to-market is enterprise field sales targeting corporate occupiers, local authorities, institutional investors, and landowners through direct relationships, joint venture partnerships, and industry events such as UKREiiF.

Name

HBD

Legal name

Henry Boot Developments Limited

Website

https://hbd.co.uk

Company type

Private

Founded year

1886

Operating status

Operating

Headcount range

51–100 employees

Short description

HBD (Henry Boot Developments Limited) is the UK property development arm of Henry Boot PLC, delivering industrial, logistics, residential, and urban regeneration schemes through joint ventures with local authorities, pension funds, and institutional investors, managing a £1.4bn commercial pipeline.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Nonresidential Building Construction (2362), Land Subdivision (2372), New Housing For-Sale Builders (236117)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Nonresidential Bldgs (1540), General Bldg Contractors - Residential Bldgs (1520), Operative Builders (1531), Lessors Of Real Property, Nec (6519)

akta.pro primary industry

Land Acquisition, Lot Development & Construction Financing (AD&C) (FSALAHAI)

akta.pro secondary industry

Construction & Development (C&D) Lending — Commercial/Multifamily (FSALADAH)

Keywords

• Industrial property development
• Logistics real estate
• Urban regeneration development
• Residential build to rent
• Joint venture development

Headquarters

HQ city

Ecclesall

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Property Development Sales: HBD develops industrial, logistics, residential, and urban schemes and sells completed properties or land parcels to occupiers, investors, or other developers. This includes speculative development and pre-let schemes.
2. Investment Property Portfolio: HBD holds completed properties in its investment portfolio generating recurring rental income, exemplified by the Waitrose supermarket held since 2012. Capital is recycled through disposals to fund new projects.
3. Joint Venture Fees and Equity Returns: HBD participates in JVs (e.g., Origin with Feldberg Capital, Island with GMPF) where it earns development fees, promotes assets, and receives equity returns on its 25% stake in certain JVs.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

HBD is a UK property developer that delivers industrial and logistics facilities, urban regeneration schemes, and residential developments for corporate occupiers, institutional investors and public-sector partners. The company operates across the full development lifecycle — from site identification and land assembly through JV structuring, planning, sustainable construction (targeting BREEAM Excellent, EPC A, Net Zero Carbon and up to 75% PV roof coverage), and occupier handover — while also holding selected assets in its investment portfolio for recurring rental income.

Product overview

HBD (Henry Boot Developments) is a UK-based property development company that delivers industrial and logistics solutions, urban development projects, and residential schemes. Rather than a software product platform, HBD's offerings are physical property developments including commercial office spaces, industrial warehouses, logistics facilities, and residential developments. Key named schemes include Island (net zero carbon office in Manchester), Golden Valley (cyber and tech innovation campus in Gloucester), SPARK (manufacturing and logistics in Walsall), Markham Vale (industrial/logistics in Derbyshire), APTUS (industrial near Preston), Origin JV industrial portfolio, Airport Business Park Southend, and various residential projects like Kampus in Manchester. The company operates through joint ventures and partnerships, delivering approximately £1.4 billion commercial development pipeline across the UK.

Differentiator

Problem solved

Functional benefit

Products and services

• Island (Manchester) Net Zero Carbon in operation office development in Manchester city centre, achieved BREEAM Excellent, EPC A and 5-star NABERS Independent Design Review rating; £66m scheme in JV with GMPF, 66% leased to enterprise occupiers including Arcadis (10,300 sq ft, 10-year lease) and Virgin Media O2 (46,000 sq ft pre-let, 10-year lease).
• Golden Valley (Cheltenham/Gloucester) £1bn cyber and tech innovation campus delivered in JV with Cheltenham Borough Council and Factory, comprising up to 1.25 million sq ft of commercial space, 2,500+ homes and the National Cyber Innovation Centre; first phase 160,000 sq ft IDEA building focused on security technology, northern parcel covers up to 443 new homes; expected to create up to 12,000 jobs.
• Wakefield Hub 200-acre strategic industrial and logistics site at M62 junction 30 developed in JV with York Court (and Mountpark for the Amazon unit); delivered 263,000 sq ft for Phoenix Pharm, 65,000 sq ft for Kitwave, and a 2 million sq ft PV-powered fulfilment centre for Amazon, with new phases adding 405,000 sq ft planned on the former colliery site.
• Markham Vale (Derbyshire) 200-acre industrial and logistics site with M1 motorway access, delivered in a longstanding JV with Derbyshire County Council spanning almost two decades; ESG-compliant industrial space including the ARK scheme (£9m, 53,700 sq ft) under the Origin JV with Feldberg Capital; created over 2,600 jobs to date.
• Momentum (Rainham, London) 380,000 sq ft of high-specification warehouse space delivered in JV with Barings, featuring up to 75% PV panel roof coverage enabling buildings to operate on 100% self-generated solar power, with Power Purchase Agreements selling on-site electricity to occupiers at discounted wholesale rates.
• SPARK (Walsall) Manufacturing and logistics development in Walsall, expected to create up to 1,100 jobs; part of the Origin JV with Feldberg Capital, with the scheme valued at £126m and funded via an expanded £85m development loan from BGO.
• APTUS (Preston) Industrial and logistics development near Preston on the M6 distribution corridor, expected to create up to 1,500 jobs; expanding to 790,000 sq ft total as part of the Origin JV with Feldberg Capital.
• Airport Business Park Southend £90m, 21-hectare mixed-employment scheme delivered in partnership with Southend City Council and SELEP (£23m+ funding); enabling works complete creating 282 jobs, first occupier IPECO Holdings took 124,000 sq ft, outline planning secured for 1 million sq ft of flexible business space including the Launchpad innovation facility and a 16,500 sq ft purpose-built unit for The Event Co.
• Workstown (London Borough of Enfield) 28-acre redevelopment site in the London Borough of Enfield, transformed from a former waste storage area into a modern employment zone, incorporated into the GLA's London Plan; 60,000 sq ft delivered to date for SMEs including DWF, Perfect Goods Distribution and Dhaka Training.
• Kampus (Manchester) Build-to-rent residential and mixed-use regeneration of a 2.5-acre former university campus in Manchester city centre, delivered in partnership with Capital&Centric since 2014; includes independent operators such as Viennoiserie bakery, a Mexican restaurant, NY-style pizza and a cocktail bar in a human-scale regeneration scheme.
• FREEPORT 36 (Goole, East Yorkshire) Large-scale industrial and logistics development in Goole, East Yorkshire, delivered by HBD on behalf of Henry Boot PLC and St John's College Cambridge, benefitting from Humber Freeport tax site status; expected to create approximately 8,000 jobs.
• Waitrose Investment Property (Warminster) Investment property comprising a 29,350 sq ft purpose-built Waitrose supermarket and retail units on a two-acre site in Warminster, completed by HBD in 2012 and held in the Henry Boot investment portfolio until sold to a UK REIT for £8.6m in March 2026; Waitrose represented 82% of HBD's rental income.
• Origin JV (HBD / Feldberg Capital) Joint venture vehicle between HBD (25%) and Feldberg Capital (75%) for industrial and logistics development; added three new schemes worth £56m (262,000 sq ft) across Walsall (SPARK), Preston (APTUS) and Markham Vale (ARK) in January 2026, with BGO development loan expanded from £54m to £85m.

Quantifiable outcome

• 2,600+ jobs created at Markham Vale site
• +3 more outcomes

Named customers20 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

16 partnerships are on record, tiered minor and core.

• Knight FrankminorChannel Partner/ Reseller/ Distributor · 15 June 2026Property advisors who advised Arcadis on its relocation to Island Manchester (10,300 sq ft, 10-year lease).
• Cheltenham Borough CouncilcoreStrategic or Co-development Partner · 25 April 2026HBD and Cheltenham Borough Council secured reserved matters approval for £1bn Golden Valley cyber and tech innovation campus in Gloucester. First phase includes 160,000 sq ft IDEA building and northern parcel covers up to 443 new homes. Development to include 2,500+ homes, 1.25m sq ft commercial space, 12,000 jobs.
• Southend City CouncilcoreStrategic or Co-development Partner · 3 March 2026HBD in partnership with Southend City Council is developing Airport Business Park Southend (£90m, 21-ha scheme). £23m+ funding from South East Local Enterprise Partnership (SELEP). Enabling works complete creating 282 jobs. First occupier IPECO Holdings took 124,000 sq ft. HBD has outline planning for 1m sq ft flexible business space.
• Muse DevelopmentsminorStrategic or Co-development Partner · 28 November 2024Co-produced Future Foundations podcast with HBD exploring sustainable commercial buildings. Phil Marsden, MD of Muse, discussed Eden building at New Bailey in Salford, paralleling Island Manchester development.
• CundallminorStrategic or Co-development Partner · 28 November 2024Engineering consultancy co-producing Future Foundations podcast with HBD, Muse, and CBRE on sustainable commercial buildings.
• CBREminorStrategic or Co-development Partner · 28 November 2024CBRE's Head of Sustainability Debbie Hobbs co-contributed to Future Foundations podcast. CBRE acts as joint agent for Island (with OBI) and agent for Wakefield Hub (Danielle Raunjak).
• FactorycoreStrategic or Co-development Partner · 29 August 2023HBD partnered with Cheltenham Borough Council and Factory to deliver Golden Valley (£1bn) and the National Cyber Innovation Centre (Factory Cheltenham), a facility surrounded by revolutionary workspaces, community spaces, and energy-efficient homes.
• Derbyshire County CouncilcoreStrategic or Co-development Partner · 20 March 2023Longstanding relationship spanning almost two decades at Markham Vale. Derbyshire County Council is described as a trusted and reliable partner with highly productive relationship. 200-acre Markham Vale site with M1 access delivers ESG-compliant industrial space and has created 2,600+ jobs.
• BarnfieldminorStrategic or Co-development Partner · 20 March 2023HBD delivers schemes with Barnfield including EAST in Preston (18-acre M6 distribution corridor site, now occupied by DPD). Partnership combines contrasting strengths and collective skills.
• Readie ConstructionminorImplementation/ SI/ Consulting Partner · 20 March 2023Construction partner delivering high-spec sustainability features at Rainham development, supporting HBD's sustainability initiatives including PV panels and EV charging.
• Bowmer + KirklandminorImplementation/ SI/ Consulting Partner · 20 March 2023Contractor appointed for Golden Valley first phase construction and Power Park Nottingham development. Delivering Island Manchester built by Bowmer + Kirkland.
• Henry Boot ConstructioncoreStrategic or Co-development Partner · 1 August 2022Subsidiary of Henry Boot Group providing construction services for HBD developments including ARK at Markham Vale. Supports cross-subsidiary working with HBD project management teams.
• Enfield Borough CouncilcoreStrategic or Co-development Partner · 1 June 2021HBD is redeveloping 28-acre Workstown site in London Borough of Enfield in partnership with the council. GLA incorporated the scheme in its London plan. Site transformed from waste storage area to modern employment zone with 60,000 sq ft delivered for SMEs including DWF, Perfect Goods Distribution, Dhaka Training.
• York CourtcoreStrategic or Co-development Partner · 1 January 2018JV partnership with York Court at Wakefield Hub (200-acre strategic I&L site at M62 junction 30). Delivered 65,000 sq ft for Kitwave, 263,000 sq ft for Phoenix Pharm, and 2m sq ft Amazon facility via Mountpark. New phases adding 405,000 sq ft planned. Site is former colliery revitalised after 40 years.
• MountparkminorStrategic or Co-development Partner · 1 January 2018Mountpark partnered with HBD/York Court at Wakefield Hub to deliver an impressive 2m sq ft full PV-powered unit for Amazon, with enhanced infrastructure contributing to the site's appeal.
• Capital&CentriccoreStrategic or Co-development Partner · 1 January 2014HBD partnered with Capital&Centric since 2014 to transform 2.5-acre former university campus (Kampus) in Manchester city centre. Delivered build-to-rent residential with independent operators including Viennoiserie bakery, Mexican restaurant, NY-style pizza, cocktail bar. Human-scale regeneration mirroring Rotterdam/Amsterdam examples.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• St. Modwen Properties: St. Modwen is a major UK property developer with overlapping activities in industrial & logistics, residential, and urban regeneration. Historically a listed company (acquired by Blackstone in 2021), it offers a comparable mixed-use development model with national UK footprint, making it the closest direct peer to HBD.
• Peel L&P: Peel L&P is a UK-focused regeneration, industrial, and infrastructure developer with a similar JV-heavy model partnering with public-sector bodies and institutional investors. Schemes like MediaCity and Liverpool Waters provide direct comparability to HBD's urban regeneration and I&L activities.
• Muse Developments: Muse is a UK urban regeneration specialist and listed HBD JV partner (Future Foundations podcast co-producer). Muse's mixed-use town centre and regeneration schemes directly overlap with HBD's urban development portfolio, including Kampus-style projects.
• SEGRO: SEGRO is a UK and European-listed logistics and industrial REIT/developer with a Big Box focus. Its portfolio of strategic motorway-adjacent logistics parks competes directly with HBD's I&L schemes such as Wakefield Hub, EAST, and Momentum Rainham.
• Goodman: Goodman is a global industrial and logistics property specialist with significant UK operations. Its business parks and logistics developments compete head-to-head with HBD's I&L schemes for major occupiers like Amazon, DHL, and DPD.
• Tritax Big Box REIT: Tritax Big Box is a UK-listed REIT specialising in large-scale logistics warehouses. It directly competes with HBD for pre-let and speculative logistics mandates from major distribution occupiers in motorway corridor locations.
• Chancerygate: Chancerygate is a UK-focused industrial and logistics developer with a multi-let urban logistics focus. It competes for similar mid-sized I&L occupiers and serves comparable regional UK geographies as HBD's smaller I&L schemes.
• Bruntwood: Bruntwood is a UK commercial property developer and operator focused on offices, science, and innovation campuses. Its sustainable office and innovation focus overlaps with HBD's Island Manchester and Golden Valley cyber campus activities.
• CEG (Commercial Estates Group): CEG is a UK property developer and investment company with experience in office, industrial, and mixed-use schemes. It provides a comparable mid-sized UK development platform with similar regional and institutional partnerships.

Emerging players

• Ask Real Estate: Ask Real Estate is a UK urban regeneration developer focused on mixed-use city centre schemes in the North and Midlands. It overlaps with HBD's urban development portfolio in markets like Manchester and Birmingham, though at smaller scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights6 records

Customer concentration

• Instagraminstagram.com/hbddevelopments
• Xx.com/HBDplaces

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HBD