Harworth Group PLC 964 residential plot sales in December 2023
11 Gennaio 2024 - 8:00AM
RNS Non-Regulatory
TIDMHWG
Harworth Group PLC
11 January 2024
Harworth Group plc
("Harworth" or "the Group")
Harworth completes 964 residential plot sales in December
2023
Harworth Group plc, a leading regenerator of land and property
for sustainable development and investment, announces that in
December 2023 it completed 964 residential plot sales, to bring its
total for the year to 1,170. A number of further land parcel sales
are expected to complete in the coming months, reflecting continued
housebuilder appetite for Harworth's de-risked serviced residential
land product.
The December transactions comprised six land parcel sales in
Yorkshire and the Midlands to four housebuilders, and the Group's
first forward funding agreement with a registered provider as part
of Harworth's affordable housing portfolio. The total headline
sales price for these transactions was GBP41.2 million and all were
completed at prices in line with, or ahead of, book values. More
detail on these transactions is provided below.
-- The largest of the disposals was the whole of a site in
Killamarsh, Derbyshire, which has been sold jointly to both Harron
Homes and Homes by Honey. In the first half of 2023, an outline
planning consent was secured to develop up to 397 family homes at
the site.
-- At its South East Coalville development in Leicestershire,
Harworth has sold a land parcel to Strata for the construction of
up to 184 homes. The wider development occupies a 250-acre site and
has outline planning consent for more than 2,000 homes, with land
now sold for over half of these, together with a new supermarket. A
new 21-acre park was opened at the site in late 2023 and
construction has begun on a new two-form entry primary school.
-- At its Prince of Wales development in Pontefract, Harworth
has sold a land parcel to Harron Homes for the development of 141
new homes. The regeneration of the former Prince of Wales colliery,
which will see the creation of a new community of over 900 homes,
began in 2013 and is now nearing completion. To date, over 400
homes have been built and occupied at the site, with almost half of
these being delivered by Harron Homes, following its first land
acquisition there in 2016.
-- At Thoresby Vale in Nottinghamshire, a land parcel has been
sold to Homes by Honey to deliver 114 family homes. The development
lies on the site of the former Thoresby Colliery, which Harworth is
transforming into a new community of around 800 homes, including a
new primary school, retail and leisure facilities and a 350-acre
country park. Land at the site has already been sold to two
housebuilders - one parcel to Harron Homes, and three parcels to
Barratt and David Wilson Homes - for the delivery of over 530
houses in total. The primary school received planning approval in
2023 and construction is expected to commence later this year.
-- At Waverley in Rotherham, where Harworth is regenerating the
former Orgreave Colliery & Coking Works into over 3,000 homes
alongside the nationally-significant Advanced Manufacturing Park,
extensive green space and amenities, land was sold to Homes by
Honey to develop 54 family homes.
-- At its Gedling site in Nottinghamshire, Harworth sold a
remaining small land parcel to Keepmoat Homes, which has an outline
planning consent to develop 24 houses. The land parcel is adjacent
to a separate development being delivered by Keepmoat Homes and
Homes England on the site of the former Gedling Colliery.
-- Finally, Harworth signed its first forward-funding agreement
for its affordable housing portfolio, at Riverdale Park in
Doncaster. Harworth entered into an agreement with Great Places,
which manages 24,000 homes across the North West and Yorkshire, to
develop 50 new affordable housing properties at the development.
Under the terms of the agreement, Harworth has sold a land parcel
to Great Places and will oversee the construction of the homes in
return for a development management fee.
Harworth will provide a Trading Update in respect of the year
ended 31 December 2023 later this month.
Lynda Shillaw, Chief Executive of Harworth, commented: "Our
large number of residential land sales at the end of 2023, all in
line with or ahead of book values, demonstrates the continued
strong demand for Harworth's de-risked serviced residential land
product from a wide range of housebuilders, and we are seeing
strong sales momentum as we move into 2024. We are also pleased to
have completed our first forward-funding agreement for our
affordable housing portfolio, proving the appeal of our mixed
tenure model. We look forward to working with our partners to
deliver much-needed new homes across these regions."
For further information
Harworth Group plc
Lynda Shillaw (Chief Executive) T: +44 (0114) 349 3131
Kitty Patmore (Chief Financial Officer) E: investors@harworthgroup.com
Tom Loughran (Head of Investor & Stakeholder
Relations)
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 13,000 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 residential and
industrial & logistics developments. Visit
www.harworthgroup.com for further information. LEI:
213800R8JSSGK2KPFG21
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