8th Oct 2024 11:02
Harworth Group PLC - Rotherham, South Yorkshire-based regenerator of land for sustainable development with 14,000 acres of land on about 100 sites throughout North of England and Midlands - Completes acquisition of Catalyst, a 285,000 square foot urban logistics estate in Rotherham. Harworth pays GBP43.7 million, which reflects an net initial yield of 5.4%. The logistics estate was completed last year and is 90% let with the agreements having a weighted average of 6.6 years to break and 10 years to expiry. Once fully let, the estate will generate GBP2.5 million in annualised rent. Chief Executive Lynda Shillaw notes Catalyst is the largest Industrial & Logistics asset investment in Harworth's history.
Current stock price: 179.50 pence, down 1.4% in London on Tuesday
12-month change: up 73%
By Tom Waite, Alliance News editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.