TIDMHWG
Harworth Group PLC
08 November 2017
8 November 2017
Harworth Group plc ("Harworth" or the "Company")
Land sales lined up for further 264 housing plots at Waverley,
Yorkshire
Includes innovative starter homes aimed at first-time buyers as
part of Yorkshire's largest ever brownfield redevelopment
Harworth Group plc, the brownfield regeneration and property
investment specialist, has exchanged contracts on land sales
totalling 13.87 net developable acres, with two regional
housebuilders, for the next phase of residential development at its
flagship Waverley site in Rotherham, South Yorkshire. The combined
price, in excess of GBP11m, reflects an increasing average price
per acre realised at Waverley by Harworth, as Waverley continues to
mature as a leading brownfield development.
Avant Homes ("Avant") will build 220 three and four bedroom
family homes on 12.81 net acres of land it has purchased. This deal
follows its acquisition in February 2017 of 4.7 net acres where the
housebuilder is already constructing 61 three and four bedroom
homes, reflecting the strong demand for this type of product at the
development.
Contracts have also been exchanged with Sky House Company
(Waverley) Limited ("Sky House"), for 1.06 net acres of land. Sky
House, a fast-growing 'compact' urban housebuilder based in
Sheffield, will be developing Waverley's first starter homes aimed
at first time buyers, comprising 40 two-bedroom units and four,
four-bedroom family homes. It will be employing its unique
Sky-House concept - a re-imagining of Victorian 'back-to-back'
terraced homes for modern day living.
These sales are another significant milestone at the 20 year
regeneration scheme, where Harworth's ongoing placemaking success
has seen 700 homes built to date, alongside 1m sq ft of employment
space at the Advanced Manufacturing Park ("AMP"). The
aforementioned deals with Avant and Sky House follow the
residential land sale of 8.17 net acres to national housebuilder
Taylor Wimpey, for the delivery of 130 new homes, in June 2017.
Owen Michaelson, Chief Executive of Harworth, commented: "These
transactions provide further evidence of the momentum at Waverley,
which is seeing it mature into one of the North of England's most
desirable mixed-use developments.
"Avant Homes' decision to purchase a second land parcel from us
at Waverley proves both the strength of Waverley as a location,
their confidence in our ability to deliver sites ready for
development and the popularity of their product locally. In
addition, Sky House's decision to develop innovative starter
properties marks an exciting new phase that will add further
vibrancy and density to Waverley, whilst also reflecting our desire
for the development to offer a broad range of home types aimed at
different parts of the market.
"Both deals also demonstrate the underlying strength of the
residential market in the North of England, driven by comparatively
low prices and a continued lack of housing land supply to meet the
needs of a growing population. Harworth is uniquely placed to
benefit from this, leveraging our market-leading masterplanning
expertise."
These are the latest of a number of deals at Waverley in 2017.
In July Harworth secured a 20 year pre-let to leading sports car
manufacturer McLaren Automotive for a brand new 75,000 sq ft unit
at the AMP, joining other major employers including Boeing,
Rolls-Royce and the University of Sheffield's Advanced
Manufacturing Research Centre (AMRC). This unit is due for
practical completion in Spring 2018.
At the end of October 2017, Waverley Square Limited, a joint
venture between Harworth Group plc and Dransfield Properties Ltd,
received planning consent for a new local centre that will deliver
over 190,000 sq ft of mixed-use space that includes up to 99,000 sq
ft for a new foodstore and retail space, alongside office space
covering 38,000 sq ft. On completion this will act as central hub
that links the AMP with the growing residential development.
Since the beginning of 2017, Harworth has completed or exchanged
on residential land sales of over 38 net acres, which will deliver
a total of 622 new homes across its projects in the UK, achieving
an overall profit on sale. Following completion of these land
sales, Harworth's consented residential pipeline currently will
stand at 10,623 plots, providing a long-term supply of land for new
homes in the North of England and the Midlands.
Enquiries:
Harworth Group plc
Iain Thomson T: T: 0114 349 3131/07825
860215
ithomson@harworthgroup.com
FTI Consulting T: 020 3727 1000
Dido Laurimore Harworth@fticonsulting.com
Richard Gotla
Tom Gough
About Harworth Group
Listed on the main market, Harworth Group plc (LSE: HWG) is a
leading brownfield regeneration and property investment specialist
which owns, develops and manages a portfolio of approximately
21,000 acres of land on 139 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 developments and low carbon energy
projects.
http://www.harworthgroup.com/
About Waverley
Situated two minutes' drive from Junction 33 of the M1, Waverley
is Yorkshire's largest ever brownfield development. Set over 740
acres, Harworth will be delivering a new community of 3,890 homes
alongside 2m sq. ft. of commercial space at the world-renowned
Advanced Manufacturing Park, supported by a new local centre and
over 300 acres of public open space. To date over one million sq.
ft. of employment space has been developed, with over 1,500 people
employed by organisations including Boeing, Rolls-Royce and the
University of Sheffield's Advanced Manufacturing Research Centre
(AMRC). Over 700 homes have also been built and occupied on the
site in the past five years by Taylor Wimpey, Barratt, Harron Homes
and Avant Homes.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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