Trio of residential land sales in multi-million pound deal
Regeneration and property development firm Harworth Group has sold three separate parcels of engineered residential land in Yorkshire; which will deliver 441 new homes for a total consideration of £22.2m.
At its Waverley development in Rotherham, Harworth has secured two disposals at its 740-acre mixed use development. It has sold 10.72 acres of engineered land to Taylor Wimpey, for the construction of a further 175 new family homes. This is Taylor Wimpey’s fourth purchase of land at Waverley, following previous land purchases in 2012, 2013 and 2017 for a total of 332 plots.
In addition, the Rotherham-headquartered listed firm has sold a further 11.73 acres of engineered land to Barratt Homes, for the construction of 177 new homes that will commence in the second half of the year. Both deals bring the total amount of residential land sold at Waverley since 2012 to 110 acres across 16 separate phases that will deliver a combined total of 1,568 new homes.
Harworth plans to sell further engineered land parcels over the next ten to fifteen years as it builds out the scheme which has a 3,890-home outline consent.
In a third transaction, the company has sold 7.98 acres of land at its Prince of Wales development in Pontefract to regional housebuilder Avant Homes for the delivery of 89 homes. This is Avant’s third purchase at the 917-home consented scheme.
Owen Michaelson, Chief Executive of Harworth, said:“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.
“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.”
