October 2, 2019

Bromley Mall sold for £20million

Henry Boot Developments (HBD) has sold The Mall in Bromley, a retail led mixed-use investment, to a consortium of international investors for £20million.

The Mall comprises a mixed-use scheme of 87,145 sq ft of retail space, 9,728 sq ft of office accommodation, a 241-space car park and a newly developed 59-bed Travelodge hotel. Anchor retail tenants include Sports Direct, Poundland, Argos and Iceland.

HBD owned The Mall for 16 years and have carried out a variety of value-added initiatives including redeveloping ground floor retail in a pre-let deal with Sports Direct. The addition of Grade A offices on the site and the recent redevelopment to provide a Travelodge hotel.

Adrian Schofield, Director of HBD London, said: “During the last 16 years, HBD has completed extensive works at The Mall including the addition of Grade A office space and more recently a specific redevelopment to provide a new pre-let Travelodge hotel. This has allowed us to successfully execute our exit strategy in a testing retail market”.

Josh Vernon at JLL said: “JLL were delighted to act on behalf of HBD for the successful sale of The Mall in Bromley. It demonstrates that despite the challenges facing the retail sector, investor appetite remains more robust for Greater London and South East whose assets are underpinned by strong residual values.”

Part of the Henry Boot Group of Companies, HBD is one of the UK’s most active property developers, with offices in London, Bristol, Birmingham, Manchester, Sheffield and Glasgow. The developer is currently working with a commercial pipeline in excess of £1bn.

Register for updates & alerts

The Modern Slavery Act 2015 - Group Statement: View here

Henry Boot PLC and its Group Companies has, following the introduction of the Modern Slavery Act 2015 (the “Act”) implemented a number of measures which seek to bring about greater transparency and scrutiny into our various supply chains, in order to combat slavery and trafficking activities. Further to this, over the past year we have been reviewing the measures put in place and seeking to identify additional actions to strengthen our due diligence and transparency. The aim of the Act is in line with our own ‘Henry Boot Way’ Vision and Values, as updated in 2017, which include ‘Respect’, ‘Integrity’ and ‘Collaboration’, all of which are relevant to our approach in this regard.

We continue to keep under regular review our Human Trafficking and Slavery Statement (the ‘Statement’), setting out the activities undertaken to reduce the risk of slavery and trafficking activities being present within our business operations. These measures include the introduction of an Anti-Slavery Policy, due diligence requirements, and mandatory contract clauses seeking compliance by our supply chain with appropriate anti-slavery measures. Additional measures that have recently been put into place to increase knowledge and vigilance throughout our organisation and supply chain include posters and awareness cards across our sites.

We will continue to regularly work with our partners, contractors, suppliers and other stakeholders, as well as keeping industry best practice under review, to monitor our approach for effectiveness, and consider any changes or additional measures as appropriate.

Click to access our Statement here.

Henry Boot PLC
John Sutcliffe
Chief Executive Officer