Henley Investment Management is pushing boundaries in both the US and UK markets, as detailed in a recent Property Week interview with founder and CEO Ian Rickwood. The feature explores the firm’s expansion into tech-driven car washes, key UK developments, and the integration of AI in investment strategies.
Expanding into the US with AquaSonic Car Washes
Henley is rolling out its AquaSonic brand in the US, targeting the fragmented car wash industry with high-tech facilities. The first site opened in Florida last month, with each location costing around $10 million to develop. Rickwood highlights the sector’s potential for high yields, up to 17% on costs, compared to 10% in self-storage, emphasising the importance of strategic locations and minimal competition.
The goal is to scale to 100 sites, building a billion-dollar business before considering a European launch.
”We'd like to bring AquaSonic to Europe, but we need to get to a decent scale in the US first.
Rickwood noted.
Diverse Background Fuelling Real Estate Success
Rickwood’s path to real estate leadership began with an economics degree and roles in fast-moving consumer goods. He started at Procter & Gamble marketing everyday products, then rose to head of European sales at Pepsi, introducing the iconic Pepsi Blue. Alongside his wife, he managed a Subway franchise in London before acquiring and expanding the Benjy’s sandwich brand, exiting retail in 2006.
Entering property amid the global financial crisis tested their resolve, but Henley emerged stronger, diversifying with their own and investor capital. Eighteen years later, the firm has deployed about $4bn (approximately £3bn) across the UK, US, Poland, Netherlands, Germany, and Ireland.
Key UK Schemes: Albert and Swedish Wharf, and Regent Retail Park
In the UK, Henley is advancing multiple projects. The Albert and Swedish Wharf scheme in Fulham, London, involves redeveloping a riverside site into 276 residential units above a 55,000 sq ft logistics hub with a new wharf. Originally conceived as build-to-rent, it’s shifting to build-to-sell due to favourable cap rates, though Rickwood remains open to BTR opportunities. The draft Section 106 agreement includes 81 affordable units. Construction is stated to start early next year, pending final approvals under the Building Safety Act’s Gateway 2 process.
Further north, the Regent Retail Park redevelopment in Salford, Manchester, aims to transform the site into a mixed-use community with around 3,300 homes, featuring buildings up to 78 storeys, the tallest outside London. Despite local opposition, including from Salford MP Rebecca Long-Bailey, the project seeks to deliver 20% affordable housing, exceeding regional norms. Recent council deliberations deferred a decision, but Rickwood stresses collaboration with authorities for long-term viability.
Rickwood expressed frustration with UK planning delays and proposed penalties for slow delivery, contrasting them with the US’s pro-business environment. He warns of potential bond market volatility impacting real estate but praises clear economic strategies abroad.
Leveraging AI for Data-Driven Decisions
Henley has developed an in-house AI tool to evaluate US opportunities, analysing hundreds of attributes in minutes to score sites. This has slashed analysis time from half a day to a minute, boosting productivity. Next, it will scan all Florida land parcels to identify optimal AquaSonic locations, reducing risks through superior data insights.
As Henley evolves, Rickwood’s blend of FMCG expertise, innovative projects, and technology underscores a forward-thinking approach to real estate.
For the full interview, read the original article in Property Week here.
