Developer plans homes and employment space with double swoop

Developer Harworth has bought two parcels of land in the East Midlands that are set to bring forward jobs and housing.

Harworth has bought the sites, totalling 165 acres, for a £3.88m plus acquisition costs.

The company has bought 112 acres of land across three separate parcels near Denby in Derbyshire. These purchases are in addition to Harworth’s existing promotion agreement for the wider masterplan. The site is currently being promoted through Amber Valley District Council’s Local Plan process as a major new residential-led development across 421 acres that could deliver up to 3,000 new homes and 450,000 sq ft of commercial space.

Harworth has also acquired 53 acres of greenfield land in Bardon, Leicestershire, which is adjacent to the Company’s existing major development at Coalville. Harworth will promote the site through the planning process for a commercial scheme of up to 350,000 sq ft of manufacturing, distribution and roadside uses.

Owen Michaelson, chief executive of Harworth, said: “These acquisitions and the increase in our financing facilities demonstrate the continued implementation of our strategic priorities. We are expanding our strategic land bank to deliver further value to our shareholders through clear, long-term value-add opportunities, whilst both securing additional income and maintaining low gearing and financing headroom to support the continued growth of the business.”