Harworth Group PLC Acquisition of major Midlands regeneration site
June 19 2018 - 1:01AM
RNS Non-Regulatory
TIDMHWG
Harworth Group PLC
19 June 2018
19 June 2018
LEI 213800R8JSSGK2KPFG21
Harworth Group plc
Harworth Group acquires major regeneration site as it grows its
presence in the Midlands
Harworth Group plc ("Harworth" or the "Company"), the leading
land regeneration and property investment specialist, announces
that it has purchased the 350-acre former Ironbridge coal-fired
power station in Shropshire for an undisclosed sum, further growing
the Company's strategic land bank and expanding its presence in the
Midlands.
Located adjacent to Ironbridge town centre, the site comprises
around 240 acres of brownfield land and a neighbouring parcel of
over 100 acres of agricultural land. Harworth will use its market
leading land regeneration skills to remediate the site ready for
future development and to promote the site through the planning
process, targeting the delivery of a new mixed-use development of
several hundred new homes alongside commercial development, leisure
uses and significant public open space.
Owen Michaelson, Chief Executive Officer of Harworth Group,
commented:
"The redevelopment of Ironbridge Power Station requires an
experienced regeneration company to sensitively handle the project.
We have proved with our major developments of former coal mines and
other industrial sites across the North of England and the Midlands
that we have the core skills required to effectively redevelop
complex sites. We look forward to doing the same at Ironbridge.
"The Midlands market remains a key priority for the business as
we continue to expand our presence in the region. With the
continued undersupply of new homes and commercial space, there is
good demand from housebuilders and commercial occupiers alike. This
acquisition forms part of our ongoing strategy to become the UK's
leading regeneration company."
-ENDS-
Enquiries:
Harworth Group plc T: 0114 349 3131
Owen Michaelson, Chief Executive E: omichaelson@harworthgroup.com
Andrew Kirkman, Finance Director T: 0114 349 3131
Iain Thomson, Head of Communications E: akirkman@harworthgroup.com
T: 0114 349 3160 / 07825 860215
E: ithomson@harworthgroup.com
FTI Consulting T: 020 3727 1000
Dido Laurimore E: harworth@fticonsulting.com
Richard Gotla
Eve Kirmatzis
NOTES TO EDITORS
About Harworth Group
Listed on the main market, Harworth Group plc (LSE: HWG) is a
leading regenerator of land and property for development and
investment which owns, develops and manages a portfolio of
approximately 21,000 acres of land on around 140 sites located
throughout the Midlands and North of England. The Company
specialises in the regeneration of former coalfield sites and other
former industrial land into new residential developments and
employment areas.
http://www.harworthgroup.com/
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END
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