Developer completes residential sales at key developments
Harworth Group, the regenerator of land and property for development and investment, has sold that two parcels of serviced residential land at its Waverley and Flass Lane developments in Yorkshire have to Avant Homes.
The value of the deal is said to be “ahead of the equivalent 31 December 2019 book value” and has contributed to the firm achieving a total of £33.017m as a result of the sale of ready to build land for the delivery of 669 new homes in Quarter 4.
The sale, includes 12.94 acres of land at Waverley where the housebuilder intends to deliver 144 new family homes, this is its third land purchase at Harworth’s flagship development. Alongside this Avant jas acquired the final phase of housing land at Flass Lane in Castleford which totals 9.89 acres, where it intends to deliver 140 new two to four bedroom homes.
The deal means that since 2012 the Rotherham-based business has sold 1,700 residential plots at Waverley and in the past three years has sold all available residential development land at Flass Lane, with a total of 550 homes to be delivered on the site by 2024.
In a statement, Harowth said: “These transactions further strengthen the working relationship between Avant and Harworth, with the regional housebuilder having previously built new homes at four of Harworth’s major developments: Waverley, Prince of Wales in Pontefract, Cadley Park in South Derbyshire and Mapplewell in Barnsley.”
These are the latest sales by the listed developer, who has also completed deals of a similar size with David Wilson Homes at Thoresby Vale in Nottinghamshire and Bellway at South East Coalville in Leicestershire.
Lynda Shillaw, chief executive of Harworth Group, said: “These transactions are the culmination of an excellent year of land sales for Harworth, generating above book value sales receipts whilst continuing to support the UK’s national housebuilding target of 300,000 units per annum.
“Waverley and Flass Lane fit exactly what homeowners are looking for from the places where they live, namely access to outdoor space, a sense of community and good connectivity. The COVID 19 pandemic has shone a light on the importance of these attributes and they remain absolutely central to how we bring forward our developments to deliver the places where people want to live and work.”
Peter Henry, Harworth’s director of Yorkshire & Central, added: “Waverley and Flass Lane are excellent examples of Harworth’s market leading placemaking ability and Avant’s decision to buy further land at both sites demonstrates the appeal of both locations. We look forward to working with Avant to mobilise as quickly as possible to accelerate delivering the new homes that Yorkshire needs.”
