Record residential plot sales completed at property group

Property business, Harworth Group, reports that it completed a record 1,896 residential plot sales in the fourth quarter of 2024 for a headline value of £71.7m.

It says the volume of sales reflects continued strong demand for its de-risked serviced residential land product, as well as demonstrating the success of the group’s strategy to accelerate delivery of its residential sites and broaden its range of products.

Lynda Shillaw, chief executive, said: “This takes the total plot sales for 2024 to a new annual Harworth record of 2,385 plots, generating £104.1m of cash, split between upfront and deferred payments, and is in line with our strategic target of 2,000 per year on average.

Lynda Shillaw

“Throughout the year we continued to see healthy demand for our high quality de-risked serviced land, and notably we also completed two major land sales at our Skelton Grange and Ansty developments in December, for £106.3m.

“Proceeds from these sales will be reinvested into our Industrial & Logistics development programme to continue creating value for our stakeholders.

“We are committed to delivering sustainable regeneration schemes, creating new communities in our regions, and supporting delivery of much needed high quality housing in the UK by accelerating delivery at our sites and broadening the range of our mixed tenure products.”

Rotherham-headquartered Harworth added that it has also made residential acquisitions to re-fill its pipeline, ensuring it is able to continue to operate at scale.

These acquisitions include land at Stewartby, with a planning approval for 1,000 plots, and, in partnership with landowners, part of an allocated site near Grimsby, for 3,044 plots.

These bring the group’s residential pipeline to 31,264 plots, of which 4,568 are consented.