HBD, Henry Boot’s property investment and development arm, has completed the sale of TWO45 in Skelmersdale to an unidentified European real estate developer for a total of £9.5m.
The multi-let business park, which was acquired by HBD in 2021, has planning consent for an expanded redevelopment.
The 10-acre site, located close to the M58 and M6 motorways, has three warehouse units totalling 117,800sq ft, plus multi-let offices spanning over 30,000sq ft.
HBD submitted a planning application in late 2023 and secured consent in November 2024 for a new 245,000sq ft industrial unit, representing a 66% increase in total square footage compared with the building it will replace.
Targeting a BREEAM Excellent environmental certification, the new development will boast 15m eaves, PV panels, EV charging points, as well as market ready infrastructure and power provision that will set a new benchmark for quality and sustainability in this area.
The buyer of the property will take the lead on the new development independently.
Tim Roberts, Henry Boot chief executive, said: “This sale represents a highly successful conclusion of our business plan for TWO45.
“Our HBD team’s asset management has achieved both significant rental growth and created, now crystallised, value for the group by securing planning permission for a larger and more sustainable, prime industrial development.”
