15.6-acre residential land sale to Taylor Wimpey

Harworth Group PLC

19 July 2024

 

 

Harworth Group plc

("Harworth" or "the Group")

Harworth completes 15.6-acre residential land sale to Taylor Wimpey at its Stopes Road development in Bolton

Harworth Group plc, a leading regenerator of land and property for sustainable development and investment, has completed the sale of 15.6 acres of serviced residential land at its Stopes Road development near Little Lever in Bolton, to Taylor Wimpey UK Limited ("Taylor Wimpey"), for £8.5 million.

The site lies adjacent to Stopes Road, less than a kilometre from Little Lever town centre, and close to a large residential area to the south. Prior to its acquisition by Harworth in 2020, the site had been occupied by Tarmac and used for the manufacture and storage of concrete blocks. Harworth has since removed the manufacturing infrastructure and remediated the site, having secured outline planning in 2021 for the delivery of up to 132 new homes. The masterplan comprises a mix of housing types to meet the needs of the local community, as well as improvements to road infrastructure and access.

The £8.5 million sale price was agreed following a competitive process with local and regional housebuilders, the momentum in recent residential land sales further evidences the strong demand for Harworth's serviced land and the robustness of the UK residential market. The Group remains on track with its sales target for 2024 and will continue to selectively acquire strategic land to regenerate and transform into high quality land parcels for Residential uses.

In line with the Group's strategy, the proceeds from Residential land sales will be reinvested into its Industrial & Logistics development programme, focused on increasing the delivery of Grade A investment properties retained in its Investment Portfolio.

Lynda Shillaw, Chief Executive at Harworth, commented: "This sale is the second that we have completed with Taylor Wimpey across our major residential developments in the space of just a few weeks, and highlights the continued demand from national housebuilders for Harworth's serviced land. Our Stopes Road development is another great example of how Harworth utilises its specialist skillset to unlock value from complex land and highlights the intrinsic value in our pipeline.

"The regeneration of this scheme will deliver a thriving new community, bringing additional housing, jobs and investment to the local area whilst also providing residents with extensive green space and landscaping to enhance biodiversity, alongside improvements to road and footpath access."

For further information

Harworth Group plc
Lynda Shillaw (Chief Executive) Kitty Patmore (Chief Financial Officer) Luke Passby (Head of Investor Relations & Communications)	T: [phone] E: [e-mail]
FTI Consulting
Dido Laurimore Richard Gotla Eve Kirmatzis	T: [phone] E: [e-mail]

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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