(Alliance News) - Henry Boot PLC, a company engaged in land promotion, property investment and construction, on Wednesday said that it has entered into a equally owned joint venture with Harworth Estates Investments Ltd, a part of land and property regenerator Harworth Group PLC.
The company entered into the venture through its subsidiary, Hallam Land Management Ltd. The venture will aim to promote a strategic land opportunity in the Midlands region of the UK for a residential development.
Henry Boot Chief Executive John Sutcliffe said: "This deal represents a further investment by Henry Boot in the Midlands, a clear reflection of the underlying strength of the local residential market. We look forward to working with Harworth on this opportunity."
Harworth Group Chief Executive Owen Michaelson said: "This deal represents a further investment by Harworth in the Midlands, a clear reflection of the underlying strength of the local residential market. We look forward to working with Hallam on this opportunity."
Shares in Henry Boot were untraded at 257.00 pence each in London on Wednesday afternoon. Harworth Group shares were flat as well at 122.00p.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Henry Boot (BOOT)
Harworth Gp (HWG)