Harworth Group plc
("Harworth" or "the Group")
Harworth completes 15.6-acre
residential land sale to Taylor Wimpey at its Stopes Road
development in Bolton
Harworth Group plc, a leading regenerator of
land and property for sustainable development and investment, has
completed the sale of 15.6 acres of serviced residential land at
its Stopes Road development near Little Lever in Bolton, to Taylor
Wimpey UK Limited ("Taylor Wimpey"), for £8.5 million.
The site lies adjacent to Stopes Road, less than
a kilometre from Little Lever town centre, and close to a large
residential area to the south. Prior to its acquisition by Harworth
in 2020, the site had been occupied by Tarmac and used for the
manufacture and storage of concrete blocks. Harworth has since
removed the manufacturing infrastructure and remediated the site,
having secured outline planning in 2021 for the delivery of up to
132 new homes. The masterplan comprises a mix of housing types to
meet the needs of the local community, as well as improvements to
road infrastructure and access.
The £8.5 million sale price was agreed following
a competitive process with local and regional housebuilders, the
momentum in recent residential land sales further evidences the
strong demand for Harworth's serviced land and the robustness of
the UK residential market. The Group remains on track with its
sales target for 2024 and will continue to selectively acquire
strategic land to regenerate and transform into high quality land
parcels for Residential uses.
In line with the Group's strategy, the proceeds
from Residential land sales will be reinvested into its Industrial
& Logistics development programme, focused on increasing the
delivery of Grade A investment properties retained in its
Investment Portfolio.
Lynda Shillaw,
Chief Executive at Harworth, commented: "This
sale is the second that we have completed with Taylor Wimpey across
our major residential developments in the space of just a few
weeks, and highlights the continued demand from national
housebuilders for Harworth's serviced land. Our Stopes Road
development is another great example of how Harworth utilises its
specialist skillset to unlock value from complex land and
highlights the intrinsic value in our pipeline.
"The regeneration of this scheme will deliver a
thriving new community, bringing additional housing, jobs and
investment to the local area whilst also providing residents with
extensive green space and landscaping to enhance biodiversity,
alongside improvements to road and footpath access."
For further information
|
Harworth Group plc
|
|
|
Lynda Shillaw (Chief
Executive)
Kitty Patmore (Chief Financial
Officer)
Luke Passby (Head of Investor
Relations & Communications)
|
T: +44 (0) 7436 167 285
E:
investors@harworthgroup.com
|
|
|
|
|
FTI
Consulting
|
|
|
Dido Laurimore
Richard Gotla
Eve Kirmatzis
|
T: +44 (0) 20 3727 1000
E:
Harworth@fticonsulting.com
|
About Harworth
Listed on the Premium Segment of the Main
Market, Harworth Group plc (LSE: HWG) is a leading sustainable
regenerator of land and property for development and investment
which owns, develops and manages a portfolio of over 14,000 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
industrial & logistics and residential developments to create
sustainable places where people want to live and work, supporting
new homes, jobs and communities across the regions and delivering
long-term value for all stakeholders. Visit www.harworthgroup.com
for further information. LEI: 213800R8JSSGK2KPFG21.