{"id":2154497,"date":"2026-05-18T07:32:54","date_gmt":"2026-05-18T06:32:54","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/yorkshire\/?p=2154497"},"modified":"2026-05-18T07:33:42","modified_gmt":"2026-05-18T06:33:42","slug":"harworth-sees-occupier-demand-strengthen-as-industrial-pipeline-grows","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/yorkshire\/news\/2154497-harworth-sees-occupier-demand-strengthen-as-industrial-pipeline-grows","title":{"rendered":"Harworth sees occupier demand strengthen as industrial pipeline grows"},"content":{"rendered":"<div class=\"relative w-full overflow-visible\">\n<section class=\"text-token-text-primary w-full focus:outline-none has-data-writing-block:pointer-events-none [&amp;:has([data-writing-block])&gt;*]:pointer-events-auto R6Vx5W_threadScrollVars scroll-mb-[calc(var(--scroll-root-safe-area-inset-bottom,0px)+var(--thread-response-height))] scroll-mt-(--header-height)\" dir=\"auto\" data-turn-id=\"9cd3b284-b36c-4f73-9146-fa867f787548\" data-turn-id-container=\"9cd3b284-b36c-4f73-9146-fa867f787548\" data-testid=\"conversation-turn-3\" data-scroll-anchor=\"false\" data-turn=\"user\"><\/section>\n<div class=\"contents\">Harworth Group has said it is seeing growing occupier demand across its industrial and logistics portfolio despite continued weakness in the residential market and wider economic uncertainty.<\/div>\n<\/div>\n<div class=\"relative w-full overflow-visible\">\n<section class=\"text-token-text-primary w-full focus:outline-none has-data-writing-block:pointer-events-none [&amp;:has([data-writing-block])&gt;*]:pointer-events-auto [content-visibility:auto] supports-[content-visibility:auto]:[contain-intrinsic-size:auto_100lvh] R6Vx5W_threadScrollVars scroll-mb-[calc(var(--scroll-root-safe-area-inset-bottom,0px)+var(--thread-response-height))] scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]\" dir=\"auto\" data-turn-id=\"request-WEB:b1c3e625-5cef-4a93-bd8a-3b9cceb638af-1\" data-turn-id-container=\"request-WEB:b1c3e625-5cef-4a93-bd8a-3b9cceb638af-1\" data-testid=\"conversation-turn-4\" data-scroll-anchor=\"false\" data-turn=\"assistant\">\n<div class=\"text-base my-auto mx-auto [--thread-content-margin:var(--thread-content-margin-xs,calc(var(--spacing)*4))] @w-sm\/main:[--thread-content-margin:var(--thread-content-margin-sm,calc(var(--spacing)*6))] @w-lg\/main:[--thread-content-margin:var(--thread-content-margin-lg,calc(var(--spacing)*16))] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:40rem] @w-lg\/main:[--thread-content-max-width:48rem] mx-auto max-w-(--thread-content-max-width) flex-1 group\/turn-messages focus-visible:outline-hidden relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"flex max-w-full flex-col gap-4 grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal outline-none keyboard-focused:focus-ring [.text-message+&amp;]:mt-1\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"9bfd9a43-0c37-47f4-bab4-c4118fdb0ae0\" data-message-model-slug=\"gpt-5-5\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden\">\n<div class=\"markdown prose dark:prose-invert wrap-break-word w-full light markdown-new-styling\">\n<p data-start=\"193\" data-end=\"492\">In a trading update issued ahead of its AGM today, the regeneration and land development specialist said it had a record 4m sq ft of development-ready land available for near-term delivery, while negotiations on lettings and land sales had increased to 1.8m sq ft from 1.6m sq ft at the end of 2025.<\/p>\n<p data-start=\"494\" data-end=\"694\">The Rotherham-based business said its longer-term pipeline now totals 15.2m sq ft, with sites capable of delivering Grade A industrial and logistics space as well as supporting the growth of its investment portfolio.<\/p>\n<p data-start=\"696\" data-end=\"964\">Among the latest deals, Harworth said it had conditionally exchanged on land capable of delivering around 500,000 sq ft, including Plot 2 at Skelton Grange in Leeds, where it expects to receive \u00a353.2m on completion of a deal with <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Microsoft<\/span><\/span>.<\/p>\n<p data-start=\"966\" data-end=\"1132\">Chief executive <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Lynda Shillaw<\/span><\/span> said demand remained strongest for strategically located sites with infrastructure and planning already secured.<\/p>\n<p data-start=\"1134\" data-end=\"1390\">She said: \u201cLand at scale, and increasingly power-enabled land, remains critical to sectors such as advanced manufacturing, defence, energy and data infrastructure, and our 0.8GW of power positions means we are well placed to support occupier requirements.\u201d<\/p>\n<p data-start=\"1392\" data-end=\"1612\">Harworth added that while transaction timelines across industrial and logistics had remained prolonged, the business had completed, conditionally exchanged, or was in legal negotiations on 63% of its 2026 sales pipeline.<\/p>\n<p data-start=\"1614\" data-end=\"1859\">The group also reported progress in its residential division despite what it described as \u201cchallenging\u201d market conditions, completing sales on 155 residential plots with a further 900 plots either conditionally exchanged or in solicitors\u2019 hands.<\/p>\n<p data-start=\"1861\" data-end=\"2134\">Financially, the company said it remained well capitalised to support further growth in industrial and logistics development, with liquidity of \u00a3117.3m at the end of the first quarter and a loan-to-value ratio of 17.9%, comfortably below its through-the-year target of 25%.<\/p>\n<p data-start=\"2136\" data-end=\"2362\">Shillaw said geopolitical tensions and UK fiscal pressures continued to weigh on confidence, while inflationary pressures linked to the conflict in the Middle East were beginning to affect supply chains and construction costs.<\/p>\n<p data-start=\"2364\" data-end=\"2593\">However, she said Harworth\u2019s low leverage and flexibility over the timing of development and disposals left the board confident in the group\u2019s ability to manage short-term uncertainty while continuing to deliver long-term growth.<\/p>\n<p data-start=\"2595\" data-end=\"2808\">Separately, the company announced the appointment of <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Tony Quinlan<\/span><\/span> as an independent non-executive director from 1 June 2026. He will also join Harworth\u2019s Audit and Remuneration Committees.<\/p>\n<p data-start=\"2810\" data-end=\"3167\">Quinlan brings experience across the retail, energy, renewables, technology and industrial sectors. He previously served as chief executive of <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Laird plc<\/span><\/span>, leading the turnaround and sale of the business to Advent International in 2018, and was group finance director at <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Drax Group plc<\/span><\/span> between 2008 and 2015.<\/p>\n<p data-start=\"3169\" data-end=\"3347\" data-is-last-node=\"\" data-is-only-node=\"\">He is currently chair of <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">NextEnergy Solar Fund<\/span><\/span> and senior independent director at <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Costain Group<\/span><\/span>\u00a0and <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Hill &amp; Smith<\/span><\/span>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Regeneration specialist says negotiations on 1.8m sq ft of industrial and logistics space are progressing despite ongoing economic uncertainty<\/p>\n","protected":false},"author":271992,"featured_media":2125864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53262,120781,9,127687],"coauthors":[137100],"class_list":["post-2154497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-markets","category-property","category-regeneration","tag-featured-story","tag-yorkshire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - 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