REG - Harworth Group PLC - 15.6-acre residential land sale to Taylor Wimpey

HarworthAnnouncement

19/07/2024 10:45

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RNS Number : 0127X  Harworth Group PLC  19 July 2024

 
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)                                 T: +44 (0) 7436 167 285

 Kitty Patmore (Chief Financial Officer)                         E: investors@harworthgroup.com

 Luke Passby (Head of Investor Relations & Communications)

 FTI Consulting
 Dido Laurimore                                                  T: +44 (0) 20 3727 1000

 Richard Gotla                                                   E: Harworth@fticonsulting.com

 Eve Kirmatzis

 

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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