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Highlights
- Record-Breaking Residential Sales: Completed 2,385 plot sales in FY24, more than doubling 2023's total, with a headline sales value of £104.1 million.
- Sustainable Growth Strategy: Accelerated delivery of residential sites and broadened product offerings, with 287 affordable homes in forward-funded agreements.
- Expanding Pipeline: Residential land pipeline now totals 31,264 plots, 15% of which have planning consent.
Harworth Group (LSE:HWG), a leading UK land and property regenerator, reported a stellar performance in its Residential plot sales for 2024. The company completed 2,385 plot sales, a significant increase from 1,170 in 2023. This achievement surpassed its strategic target of 2,000 plot sales annually and set a new benchmark for the Group’s Residential sales.
The total headline sales value for FY24 reached £104.1 million, nearly double the £52.1 million recorded in 2023. In Q4 alone, Harworth sold 1,896 Residential plots to national and regional housebuilders, as well as registered affordable housing providers, generating £71.7 million in headline sales value.
Driving Sustainable Growth
Harworth’s strong performance reflects its strategic focus on accelerating Residential site delivery and diversifying its product range. Notably, the Group concluded its third forward-funding development agreement in 2024, enabling the delivery of 287 affordable homes.
Proceeds from these Residential sales are being reinvested into Industrial and Logistics developments, land acquisitions, and strategic partnerships, underpinning the Group’s long-term growth strategy.
Expanding Residential Pipeline
To sustain its operations at scale, Harworth has been actively replenishing its Residential land pipeline, which now totals 31,264 plots. Of these, 4,568 plots have already received planning consent. Recent acquisitions include:
- Land at Stewartby, approved for 1,000 plots.
- A site near Grimsby, in partnership with landowners, with allocation for 3,044 plots.
These additions position Harworth to meet the UK’s housing targets while continuing to deliver high-quality serviced Residential land to housebuilders and affordable housing providers.
Land Sales Beyond Residential Developments
In addition to its record-breaking Residential sales, Harworth successfully completed notable land sales in Q4 2024, including:
- Skelton Grange (Phase 1): 27 acres.
- Ansty: 278 acres.
These disposals collectively added £106.3 million in headline sales value.
