Feldberg Capital and HBD, the development and investment arm of Henry Boot, have completed the first close of their UK mid-box industrial and logistics joint venture, Origin, securing commitments of £156 million for its initial investment series.

Origin is a UK-focused platform targeting mid-box industrial and logistics assets, typically serving regional distribution and light industrial occupiers. Launched in late 2024 with a seeding portfolio, the venture aims to deliver approximately £1 billion of schemes over the next seven years.

The first close of £156 million will be deployed across an initial trio of UK schemes and subsequent pipeline opportunities. Feldberg Capital holds a 75% stake in Origin and will act as investment manager, while HBD retains a 25% stake, serves as development manager, and can co-invest in future projects on the same ownership split.

The joint venture is seeded with three sites: Spark in Walsall, Inter in Welwyn Garden City, and Ark at Markham Vale, representing a combined gross development value of around £100 million and roughly 450,000 sq ft of space. All schemes are designed with strong ESG credentials, targeting BREEAM “Excellent” and EPC A ratings, with construction scheduled to commence in 2025 and phased deliveries thereafter.

Origin’s strategy positions it to benefit from recalibrated land values and more sustainable entry yields following the recent industrial and logistics market repricing. The platform aims to capture demand driven by e-commerce, onshoring, and supply-chain reconfiguration, establishing Origin as a leading UK mid-box industrial and logistics platform.