9th Jan 2025 09:38
(Alliance News) - Harworth Group PLC on Thursday said its total headline value for plot sales in 2024 more than doubled from the year before, marking the firm's strongest residential sales performance to date.
The Rotherham, South Yorkshire-based regenerator of land for sustainable development said total headline sales value doubled to GBP104.1 million from GBP52.1 million the year before, as residential plot sales also doubled to 2,385 plots from 1,170 plots.
This outperformed the firm's initial target of 2,000 plot sales per year on average.
In the fourth quarter alone, Harworth completed 1,898 residential plot sales, with a headline sales value of GBP71.7 million.
The group's residential land pipeline now totals 31,264 plots.
Chief Executive Officer Lynda Shillaw said: "Throughout the year, we continued to see healthy demand for our high quality de-risked serviced land, and notably we also completed two major land sales at our Skelton Grange and Ansty developments in December, for GBP106.3 million. The proceeds from these sales will be reinvested into our Industrial & Logistics development programme to continue creating value for our stakeholders.
"We are committed to delivering sustainable regeneration schemes, creating new communities in our regions, and supporting delivery of much needed high quality housing in the UK by accelerating delivery at our sites and broadening the range of our mixed tenure products, the latter seeing 582 of the year's plots sales to affordable housing providers. Our approach to placemaking and strong collaboration with strategic partners is key to success on these developments, and our extensive consented pipeline of 4,568 plots positions us well to continue supporting growth in the UK."
The group is due to publish a trading update on its 2024 results on January 28, followed by its full-year results release on March 18.
Shares in Harworth were up 1.6% at 161.00 pence each in London on Thursday morning.
By Emily Parsons, Alliance News reporter
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