New build-to-rent portfolio to create 1,200 homes

Credit: Harworth

Harworth has launched a single family build-to-rent portfolio of 1,200 homes across the Midlands, North West and Yorkshire.

‘Project Spur’ will be across ten sites which are in close proximity of employment centres, amenities and transport locations.

The scheme is looking for a development partner for the portfolio which is part of its strategy to grow the business to £1bn EPRA NDV over the next five to seven years.

In a statement, Harworth said: “This new product will be complementary to Harworth’s existing Build to Sell products developed by housebuilders at its residential sites and will support the company’s ambition to double its residential plot sales to around 2,000 plots per annum over its strategic plan period.

“The sites have also benefited from Harworth’s investment, as well as its masterplanning and placemaking expertise, which have delivered extensive green space, recreational facilities and a well-deigned public realm. The introduction of the BTR product is expected to further add to the vibrancy and attractiveness of these communities. ”

“The project has an anticipated delivery timeline of three years, with phased handovers of the sites during this time. There will be the potential, subject to further agreement, for the partner to work with Harworth to introduce the single family BTR product to additional sites as part of future phases of development. ”

Lynda Shillaw the chief executive of Harworth said: “Harworth’s extensive portfolio is particularly well suited to delivering institutional quality single family rental homes at scale.

“Project Spur is part of our strategy to accelerate the development of our residential sites, providing a range of homes for local people and enabling diverse communities”.

James Crow, Head of Mixed Tenure at Harworth, added: “Project Spur is a rare opportunity to partner with one of the UK’s leading land and property regeneration specialists. Located in suburban communities across Yorkshire, the Midlands and the North West, these units provide a diverse and defensible portfolio of properties that benefit from close proximity and strong transport links to nearby employment and amenity centres.”

Project Spur is being marketed by Allsop on behalf of Harworth.