Highlights
- Major Sale Completed: Harworth sold a 278-acre site in Ansty, Warwickshire, for £53.5 million.
- Value Creation: Sale reflects a premium over the June 2024 book value.
- Reinvestment Strategy: Proceeds will support Harworth’s industrial and logistics pipeline development.
Harworth Group plc (LSE:HWG), a leading specialist in regenerating land and property for sustainable development, has finalized the sale of its 278-acre strategic land site in Ansty, Warwickshire, to Rugbyalpha (Freeholdco) Limited for £53.5 million.
Sale Details
The transaction, initially announced in December 2021, was conditional on the successful grant of hybrid planning permission. Following the Purchaser’s completion of the planning process, the sale has now been concluded.
Situated near Junction 2 of the M6 motorway and connecting to the M69, the Ansty site spans 278 acres. Harworth first acquired an interest in the site in October 2019 and subsequently assembled additional land over two years.
Unlocking Value
Harworth’s approach to land regeneration has again proven successful, transforming low-value land into a high-value asset. The proceeds from the sale represent a premium to the site’s book value as of 30 June 2024, highlighting Harworth’s expertise in maximizing land potential.
Strategic Reinvestment
In line with its long-term strategy, Harworth plans to reinvest the proceeds into infrastructure works and the development of its 9.6 million square feet consented Industrial & Logistics pipeline. This move aligns with the Group’s goal of expanding its sustainable development footprint across the UK.
Harworth’s Chief Executive remarked, “This transaction exemplifies our ability to deliver value from our land and property portfolio while advancing our strategy of reinvesting proceeds to drive further growth. The Ansty site’s successful sale showcases the strength of our regeneration expertise.”