Feldberg and HBD, part of Henry Boot, have closed Series I of Origin, their UK mid-box industrial and logistics (“I&L”) venture launched in December 2024.
Feldberg Capital (“Feldberg”) and HBD, part of Henry Boot, have closed Series I of Origin, their UK mid-box industrial and logistics (“I&L”) venture launched in December 2024. Origin Series I has closed at £156 million GDV with equity commitments from international institutional investors and family offices.
Origin is capitalising on compelling market fundamentals exhibited in the UK mid-box sector, This part of the market is seeing declining vacancy rates and a constrained development pipeline against strong occupier demand for Grade A space in prime locations. Furthermore, the mid-box sector benefits from a diverse occupier pool from an array of industries including logistics, manufacturing, retail, storage and other SME’s.
Origin Series I has already committed to the speculative development of three mid-box schemes in Welwyn Garden City (north of London), Walsall (west of Birmingham) and Chesterfield (south of Sheffield), which alongside a fourth pipeline asset, totals over 700,000 sq ft and £156 million GDV. Feldberg and HBD are targeting a £1 billion GDV portfolio over the next three to five years.
David Turner, Managing Partner at Feldberg Capital, said: “The UK mid-box I&L sector continues to show highly attractive investment fundamentals, with positive tailwinds from the continued growth in e-commerce, onshoring of supply chains and the expanding defence sector, coupled with an acute shortage of Grade A space and a limited development pipeline. This will support Origin as we continue capital raising for Series II and seek new mid-box development opportunities across the UK.”
Origin was set up by Feldberg Capital and HBD to develop next generation, energy efficient I&L assets in the mid-box market across the UK. Origin draws on both HBD’s development pipeline as well as acquiring sites from third-parties for further pre-let and speculative I&L development.