Developers acquire £96m Enterprise Zone site in joint venture

DEVELOPER Harworth Group has entered into a joint venture with Evans Property Group, as it signs a 50:50 agreement for Aire Valley Land LLP.

Aire Valley Land is the owner of Temple Green, a 165-acre logistics hub in the Leeds City Region Enteprise Zone.

It cost Keyland Developments and Evans £96m to build. It is the largest of four sites located in the Enterprise Zone.

The site is adjacent to Harworth’s 162 acre former Skelton Grange power station site which is bought in November 2014.

Owen Michaelson, chief executive of Harworth Group, said: “This is a landmark deal for Harworth, firmly establishing our foothold in the Leeds Property market and reaffirming our commitment to the Northern Powerhouse.

“It is also further evidence of the Group delivering on its strategy of continuing to replenish the portfolio.

“With our extensive experience in bringing forward large commercial sites, we look forward to working in partnership with Evans Property Group to deliver a commercial scheme of national significance and further building on our success at Logistics North in Bolton and the Advanced Manufacturing Park in Rotherham. With the site adjacent to our existing Skelton Grange holding, we also see potential complementary development opportunities.”

Amanda Partland, Sarah Turner of Eversheds advised Harworth on the corporate elements and Simon Harris advised on the property side.

This one of a number of major investments for Harworth, which also owns the 320-acre former aluminium smelter in Lynemouth, Northumberland; Sinfin Lane Industrial Estate in Derby; and, the 112 acre former McCormick Tractor site at Wheatley Hall Road in Doncaster.

Gent Visick advised Keyland in the deal.