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Harworth Group PLC

16 September 2015

Harworth Group Plc

Harworth acquires industrial estate

Harworth Group plc ("Harworth Group" or "Harworth"), the UK property regeneration company, announces the acquisition of Sinfin Lane Industrial Park in Derby for GBP6.95 million, with a net initial yield of 9.0%.

Sinfin Lane Industrial Park consists of 471,508 sq ft of industrial space with open storage and development land with a historical consent for residential use adjacent to Rolls Royce's worldwide headquarters.

It is Harworth's third acquisition over the past nine months, following the purchases of the 162-acre former Skelton Grange power station in Leeds and the 320-acre former aluminium smelter in Lynemouth, Northumberland.

Owen Michaelson, Chief Executive of Harworth Group, said: "This well-located investment continues the process of improving the recurring income base of our business and will create a highly-liquid, income-producing asset with a number of active asset management opportunities."

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Enquiries:

 
 Harworth Group plc                 Tel +44 (0) 114 30 30 880 
 Owen Michaelson, Chief Executive 
 Cardew Group                       Tel: +44 (0)20 7930 0777 
  Anthony Cardew 
 
 

Notes to Editors:

Harworth Group Plc is a leading property and development company which owns and manages a portfolio of some 27,000 acres of land across approximately 200 sites located throughout the Midlands and North of England. The Company specialises in the regeneration of former coalfield sites and other brownfield land into employment areas, new residential properties and low carbon energy projects.

http://www.harworthgroup.com

This information is provided by RNS

The company news service from the London Stock Exchange

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September 16, 2015 02:01 ET (06:01 GMT)

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