Harworth Group PLC HARWORTH SECURES FIRST LAND SALE TO BELLWAY HOMES (9204I)
December 17 2020 - 1:00AM
UK Regulatory
TIDMHWG
RNS Number : 9204I
Harworth Group PLC
17 December 2020
DRAFT RNS
LEI 213800R8JSSGK2KPFG21
17 December 2020: 7am
Harworth Group plc ("Harworth" or the "Company")
Harworth secures first land sale to FTSE 250 housebuilder
Bellway at its largest Midlands development
Harworth Group plc ("Harworth" or the "Company"), a leading
regenerator of land and property for development and investment,
announces that it has sold the second phase of its South East
Coalville major development in Leicestershire to FTSE 250
constituent Bellway Homes ("Bellway"). The disposal price of
GBP8.917 million is in line with the 31 December 2019 book value
and reflects the desirability of Harworth's developments and
ongoing resilience of the UK residential market.
The transaction is the first between Harworth and Bellway, which
becomes the seventeenth housebuilder to which Harworth has sold
remediated land since 2013. Bellway has acquired 12.5 acres through
the transaction and intends to deliver 166 new family homes at the
development.
South East Coalville is currently the largest residential
development site being brought forward by Harworth's Midlands team.
The 250-acre site, less than two miles from Junction 22 of the M1,
has an outline consent in place for 2,016 new homes, alongside
supporting uses including a primary school, local community centre
and new public realm.
Harworth, through its role as master developer, has completed
initial infrastructure works at the site in order to facilitate the
sale to Bellway, including delivering a new access roundabout from
the existing road network alongside internal roads and
utilities.
Lynda Shillaw, Chief Executive of Harworth Group plc, said:
"The appeal of our major developments and the quality of our
serviced land has again been evidenced by Bellway becoming the
seventeenth housebuilder to which we've sold land in the past seven
years. Achieving December 2019 book value also demonstrates the
sustained resilience of our property sectors and regional markets,
giving us further confidence as we head in to 2021."
David Cockroft, Harworth's Regional Director for the Midlands,
added:
"2020 has been a milestone year for South East Coalville, with
extensive remediation and infrastructure works facilitating two
significant sales. The development is fast becoming one of the
Midlands' flagship residential schemes and we look forward to
Bellway getting on to site as soon as possible to build the homes
that the region urgently needs."
-ENDS-
Enquiries:
Harworth Group plc T: 0114 349 3160 / 07825 860215
Iain Thomson, Head of Communications E: ithomson@harworthgroup.com
& IR
FTI Consulting
Dido Laurimore T: 020 3727 1000
Richard Gotla E: harworth@fticonsulting.com
Eve Kirmatzis
NOTES TO EDITORS
About Harworth Group plc
Harworth Group plc is a leading regenerator of land and property
for development and investment which owns, develops and manages a
portfolio of approximately 18,000 acres of land on around 100 sites
located throughout the North of England and Midlands. The Group
specialises in the regeneration of large, complex sites, in
particular former industrial sites, into new residential
developments and employment areas (harworthgroup.com).
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END
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