Harworth makes three residential land sales
16 July 2019
LEI: 213800R8JSSGK2KPFG21
Harworth Group plc ("Harworth" or the "Company")
Harworth makes three key residential land sales in Yorkshire as market for engineered land parcels remains strong
Harworth Group plc ("Harworth" or the "Company"), a leading regenerator of land and property for development and investment, has sold three separate parcels of engineered residential land on two of its major developments in Yorkshire that will deliver 441 new homes to the market for a total consideration of £22.2 million.
At its Waverley development in Rotherham, Harworth has achieved two disposals at its 740-acre mixed use development. It has sold 10.72 acres of engineered land to Taylor Wimpey, for the construction of a further 175 new family homes. This is Taylor Wimpey's fourth purchase of land at Waverley, following previous land purchases in 2012, 2013 and 2017 for a total of 332 plots.
In addition, it has sold a further 11.73 acres of engineered land to Barratt Homes, for the construction of 177 new homes that will commence in the second half of the year. Both deals bring the total amount of residential land sold at Waverley since 2012 to 110 acres across 16 separate phases that will deliver a combined total of 1,568 new homes. Harworth plans to sell further engineered land parcels over the next ten to fifteen years as it builds out the scheme which has a 3,890-home outline consent.
In a third transaction, the Company has sold 7.98 acres of land at its Prince of Wales development in Pontefract to regional housebuilder Avant Homes for the delivery of 89 homes. This is Avant's third purchase at the 917-home consented scheme.
Owen Michaelson, Chief Executive of Harworth, said:
"These are three excellent individual deals for the business that reflect two key fundamentals - the ongoing strength of the Yorkshire property market; and the ongoing popularity of our engineered land with housebuilders, with Taylor Wimpey, Barratt and Avant all being repeat customers.
"The overall receipt also reflects the ongoing maturity of two of our major developments, reflecting our skill as master developers to create attractive new places to live and work."
-ENDS-
Enquiries:
Harworth Group plc
Owen Michaelson T: 0114 349 3131
Iain Thomson E: Investors@harworthgroup.com
FTI Consulting
Dido Laurimore T: 020 3727 1000
Richard Gotla E: harworth@fticonsulting.com
Eve Kirmatzis
NOTES TO EDITORS
About Harworth Group plc
Listed on the premium segment of the London Stock Exchange, 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 120 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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