Planning secured for 1.5 million sq ft development
Harworth Group plc
("Harworth" or "the Group")
Resolution to grant planning secured for 1.5 million sq. ft. industrial & logistics development at Gascoigne Interchange in Yorkshire
Harworth Group plc, a leading regenerator of land and property for sustainable development and investment, announces that it has secured a resolution to grant planning permission1 from North Yorkshire Council's Strategic Planning Committee for the development of a major rail-connected industrial and logistics hub at its 185 acre Gascoigne Interchange site in Leeds.
The approved plans will see the development of up to 1.5 million sq. ft. of industrial and logistics space, in line with the Group's strategy to increase its direct development of industrial and logistics space from its extensive landbank, and has the potential to deliver up to £190 million gross development value (GDV). The proposal is the delivery of seven units, ranging from 57,000 sq. ft. to 1.0 million sq. ft., all built to Grade A specification, with Harworth expecting to start on site in 2025.
The brownfield site is one of Harworth's next-generation of development sites and is situated in Selby, to the east of Leeds and adjacent to Sherburn Industrial Estate. It is one of the most strategically located, rail-connected sites in the region, enabling future occupiers to utilise the existing main line rail connection from the site for a wide variety of uses, including low carbon freight movement.
The site, which is accessed via Junction 42 of the A1(M), has an extensive collection of rail sidings on either side of Network Rail's Leeds to Hull main line route, with current operational connections into the northern and southern plots on the site.
The rail access to the north of the site offers scope to create a dedicated railhead serving the buildings on site, with the ability to handle containers, bulk commodities or next-generation express freight services, and puts most of the UK within three hours of the site.
The plots to the south of the site benefit from 1,200 metres of frontage onto the main line with connections at either end capable of accommodating a major intermodal terminal for on-site and off-site customers.
The absence of speculative institutional funding and increasing tenant prioritisation for highly sustainable space is forecast to underpin strong demand for strategically-connected, Grade A industrial units in the Yorkshire region over the medium term, according to Knight Frank.
Lynda Shillaw, Chief Executive at Harworth, commented: "Our development at Gascoigne Interchange is another example of Harworth's unique ability to identify, acquire and transform brownfield sites to generate value, create jobs and increase investment in the region. This development complements Harworth's extensive pipeline of industrial and logistics sites and we continue to see high demand for high-specification strategically-connected Grade A industrial space."
1. The resolution to grant planning permission is subject to the completion of a s106 agreement.
For further information
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Harworth Group plc |
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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 |
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FTI Consulting |
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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.
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