REG - Harworth Group PLC - Planning secured for 1.5 million sq ft development

HarworthAnnouncement

14/06/2024 07:00

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RNS Number : 4068S  Harworth Group PLC  14 June 2024

 
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 permission(1) 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

 

 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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