Residential plot sale at key Midlands development

RNS Number : 6449X

Harworth Group PLC

01 May 2019

 

RNS REACH

1 May 2019: 7am                                                                                                                                                             

Harworth Group plc ("Harworth" or the "Company")

Harworth achieves significant residential plot sale for 400 units at key Midlands development

Harworth Group plc ("Harworth" or the "Company"), a leading regenerator of land and property for development and investment, announces that it has sold a 26-acre parcel of land to Avant Homes, who intend to build 400 units, at its Cadley Park development in Swadlincote, Derbyshire. It represents Harworth's single largest plot sale to date by number of residential units with reserved matters planning consent.

Located 10 miles south of Burton on Trent, the Avant scheme, part of Harworth's wider 200-acre Cadley Park development, will include a selection of two, three, four and five-bedroom homes.  Cadley Park is the site of the former Cadley Hill Colliery that closed in 1988.  Infrastructure works are ongoing and will continue alongside the construction of the new houses.

Harworth received outline-planning consent from South Derbyshire District Council in 2014 for the re-development of Cadley Park, including 600 new homes, a golf course and driving range and a new Country Park.  Since then, Harworth has used its remediation and infrastructure capabilities to prepare the site for redevelopment.

Prior to the Avant sale, Harworth sold 11 acres of land in early 2018 to Taylor Wimpey for the development of 132 homes.  The Company has also completed the development of a 9-hole golf course, a 9-hole family golf course and a driving range, all leased to tenant N1 Golf, alongside the construction of a 50-acre Country Park, as part of its commitment to placemaking.

This is the sixth serviced land parcel that Avant Homes has acquired from Harworth in the last five years, following previous land purchases at Waverley in Rotherham, Prince of Wales in Pontefract and North Gawber in Barnsley. 

Owen Michaelson, Chief Executive of Harworth Group plc, said:

"This is the largest single residential parcel by number of plots that we have sold to an individual house builder, reflecting the continued strength of the Midlands property market and the ongoing demand for good value new homes in the Midlands and North. Furthermore the deal also builds on our long-standing relationship with Avant Homes, with whom we share a vision for placemaking and delivery at a number of our major developments.

"I am also pleased that we have delivered on our promise to local stakeholders to deliver a top class country park and public golf facility at Swadlincote, emphasising our commitment to placemaking as one of the leading master developers and regenerators in the UK today."

Peter Henry, Harworth's Director of Yorkshire & Central, added:

"A number of years of hard work have gone into the successful outcome of this deal possible, from securing a viable planning consent in 2014 through to remediating the land and installing infrastructure in phases to make Cadley Park a reality.  Avant Homes have delivered high-quality new homes at three of our major developments already and I am confident that they will do so again for the benefit of the local community and the area as a whole."

-ENDS-

Enquiries:

Harworth Group plc Iain Thomson, Head of Communications & IR

T: 0114 349 3160 / 07825 860215 E: [e-mail]

FTI Consulting

Dido Laurimore                                                             T: 020 3727 1000

Richard Gotla                                                                 E: [e-mail]

Eve Kirmatzis                                                                                      

NOTES TO EDITORS

About Harworth Group plc

Listed on the premium segment of the main market, Harworth Group plc (LSE: HWG) is a leading regenerator of land and property for development and investment which owns, develops and manages a portfolio of approximately 21,500 acres of land on around 120 sites located throughout the Midlands and North of England. The Company specialises in the regeneration of former coalfield sites and other former industrial land into new residential developments and employment areas (harworthgroup.com).

 

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