Harworth offloads six land parcels in deals worth more than £41m

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Land and regeneration business Harworth has sold sites across Yorkshire and the Midlands to four different housebuilders in deals worth a combined £41.2m.

The developer has offloaded six parcels of land, the largest of which is its site at Killamarsh in Derbyshire, which has been sold jointly to both Harron Homes and Homes by Honey, and where outline planning consent was secured for up to 397 family homes. The deals also include land at its South East Coalville development in Leicestershire, its Prince of Wales development in Pontefract, at Thoresby Vale in Nottinghamshire, the major Waverley regeneration site in Rotherham and at Gedling in Nottinghamshire.

In an update to shareholders on the London Stock Exchange, the Rotherham-based plc said it had signed its first forward-funding agreement for its affordable housing portfolio at Riverdale Park in Doncaster. The agreement is with North West and Yorkshire housing group Great Places and will see 50 new affordable properties brought to the development. It will see Great Places take ownership of a parcel of land with Harworth overseeing construction in return for a management fee.

Overall the transactions in December represent 964 residential plots meaning total plot sales for the year reached 1,170. Harworth said it expects further deals in the coming months.

Lynda Shillaw, chief executive of Harworth, said: “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.”

Original artice – https://business-live.co.uk/all-about/yorkshire-humber

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Harworth offloads six land parcels in deals worth more than £41m

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