16th Jul 2019 11:00
(Alliance News) - Property developer and investor Harworth Group PLC said Tuesday it has sold three separate parcels of land on two of its developments in Yorkshire to three housebuilders for GBP22.2 million in total.
The first sale was for 10.7 acres of land at Harworth's Waverley development in Rotterdam to FTSE 100 housebuilder Taylor Wimpey PLC, for the construction of 175 homes.
This is Taylor Wimpey's fourth purchase of Waverley land, following three previous acquisitions in 2012, 2013 and 217 for a total of 332 plots.
The second transaction was for the sale of 11.7 acres of land to Barratt Homes, a brand of housebuilder Barratt Developments PLC, for the construction of 177 new homes that will start in the second half of 2019.
Since 2012 to date, Harworth has sold 110 acres of land at Waverley for the construction of 1,568 new homes.
Looking ahead, Harworth plans to sell further parcels of land over the next 10 to 15 years to build out the Waverley scheme further, which has a 3,890-home outline consent.
The third deal has Harworth selling 8.0 acres of land, in its Prince of Wales development in Pontefract to regional housebuilder Avant Homes for the construction of 89 homes.
"These are three excellent individual deals for the business that reflect two key fundamentals - the ongoing strength of the Yorkshire property market; and the ongoing popularity of our engineered land with housebuilders, with Taylor Wimpey, Barratt and Avant all being repeat customers," said Chief Executive Owen Michaelson.
"The overall receipt also reflects the ongoing maturity of two of our major developments, reflecting our skill as master developers to create attractive new places to live and work," Michaelson added.
Shares in Harworth were trading flat in London at 130.00 pence on Tuesday.
Related Shares:
Barratt DevelopmentsTaylor Wimpey