REG - Harworth Group PLC - Completion of sale of Ansty Strategic Land site

HarworthAnnouncement

24/12/2024 07:00

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RNS Number : 1888R  Harworth Group PLC  24 December 2024

 24 December 2024
 Harworth Group plc
 ("Harworth" or "the Group")

 Completion of sale of Ansty Strategic Land site for £53.5 million

 Harworth Group plc, a leading regenerator of land and property for sustainable
 development and investment, announces completion of the sale of a 278-acre
 strategic land site in Ansty, Warwickshire, to Rugbyalpha (Freeholdco)
 Limited, previously named SDI Propco (100) Limited, (the "Purchaser") for
 £53.5 million.

 As previously announced, contracts were exchanged with the Purchaser in
 December 2021 for the sale of the Ansty site conditional on the grant of
 hybrid planning permission. Following the Purchaser's successful planning
 promotion of the site, the sale has now completed.

 The Ansty site extends to 278 acres and is adjacent to Junction 2 of the M6,
 connecting to the M69. Harworth first acquired an interest in the site in
 October 2019, before undertaking further land assembly over the next two
 years. This scheme is another leading example of Harworth's ability to unlock
 significant value from low value land.

 The proceeds of £53.5 million reflect a premium to the 30 June 2024 book
 value. In line with its strategy, Harworth expects to recycle the proceeds of
 sale into infrastructure works and development across its 9.6m sq. ft.
 consented Industrial & Logistics pipeline.

 Lynda Shillaw, Chief Executive at Harworth commented: "The Ansty transaction
 demonstrates Harworth's specialist ability in creating value from strategic
 land assembly which, alongside the strength of our balance sheet, enables us
 to take a longer-term view and develop the right schemes for our sites.
 Collaboration and partnership are key to unlocking schemes like this and we
 have worked closely with a number of different stakeholders on this project,
 including the Purchaser since exchange of contracts, ultimately enabling us to
 accelerate delivery of the site. Our ability to identify and unlock
 significant value from strategic land is a key factor in Harworth's
 outperformance and we continue to identify and acquire strategic sites like
 Ansty to support our ambitious growth targets.

 "Completing the Ansty deal last night, on the back of the Skelton Grange Plot
 1 land sale to Microsoft last week, makes for a very Merry Christmas and marks
 the end of an exciting year at Harworth. I would like to say a huge thank you
 to my colleagues and stakeholders for your continued support, and we look
 forward to updating you on our operational progress in January."

 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 equity shares (commercial companies) category of the Main Market
 of the London Stock Exchange and a constituent of the FTSE 250 index, 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 over  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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