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Hawtin PLC (HTI)

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Tuesday 01 December, 2009

Hawtin PLC

Sale of unit at Parc Nantgarw

RNS Number : 3381D
Hawtin PLC
01 December 2009



AIM-listed property investment company, Hawtin PLC, has sold Unit 6.2 at Parc Nantgarw in Treforest to Wales & West Utilities, for its own occupation. The £1.8 million sale price represents a profit of approximately £500,000.

Hawtin acquired three units on the 8.65-acre site in February 2009 for £4.35 million, a significant discount to the then market value.   At the time of purchase the 32,000 sq ft Unit 6.2 was occupied by DSG Retail on a lease expiring in September 2009. Once the lease had expired the sale could proceed.

In addition, Hawtin has secured a lease renewal on Unit 6.1 at Parc Nantgarw, at a rent that reflects a 23% increase over on the rent standing on acquisition.  The 52,092 sq ft unit is let to General Motors Acceptances Corporation (UK) PLC.

Hawtin CEO Richard Hayward said of the sale:

"When we purchased the site earlier in the year we knew that the market conditions were providing some unique opportunities for purchasers to get good deals. Our ability to sell this unit at a substantial premium over the original cost - within nine months of purchase - represent Hawtin's ability to maximise value for shareholders.

"The fact that we have also succeeded in renewing the lease on another unit with such a large increase is another sign of how great an investment this was."

Hawtin was advised by Cooke & Arkwright and Richard Hayward Properties. Stephenson & Alexander acted for Wales & West Utilities. 

For further information please contact:

Hawtin PLC

Nicola Crickmore, Company Secretary 01633 682130


William Haigh / Linda Welch 

E: [email protected]

T: 020 7087 3260


Hawtin is one of Wales' leading property industry investment companies with a 1.5 million sq ft (139,354 sq m) portfolio of industrial, office, commercial and leisure space across the UK

Hawtin's Interim Report (published September 09) valued the company's assets at £67m.

Originally founded in 1874, Hawtin has a strong trading reputation in activities as varied as engineering, distribution, manufacturing and property. The company was completely re-structured in 2002 to focus purely on property development and investment, and is now listed on the Alternative Investment Market (AIM).

Around 57% of Hawtin's portfolio is located in Wales and 43% is in England. The portfolio comprises the following property types:

  • Industrial/warehousing - circa 1.3 million sq ft (120,774 sq m) - Wales 54% | England 46%
  • Leisure & entertainment - circa 132,000 sq ft (12,263 sq m) - Wales 100%
  • Office - circa 25,000 sq ft (2,323 sq m) - Wales 16% | England 84%
  • Commercial - circa 11,000 sq ft (1,022 sq m) - England 100%
  • Retail - circa 5,000 sq ft (465 sq m) - England 100%
  • Other - circa 2,000 sq ft (188 sq m) - England 100%

Hawtin's property portfolio includes: 

  • Millennium Plaza, one of Cardiff's most popular leisure and entertainment venues; 

  • Parc Nantgarw - three industrial/warehouse units in Treforest; 

  • Arrowbrooke Road, a 26-acre mixed-use commercial site on The Wirral; 

  • Blackwood Industrial Estate in Caerphilly. 

Richard Hayward, Hawtin's Chief Executive, has over 30 years experience in the property industry. He is also the principal of Richard Hayward Properties (RHP), which manages a property portfolio valued in excess of £230 million in the leisure, industrial and residential sectors. RHP is an integral part of the Hawtin team, providing management services for Hawtin's property portfolio via a management contract.

This information is provided by RNS
The company news service from the London Stock Exchange

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