Harworth Group has prelet three of its four commercial development projects and taken its total consented residential plots to just under 8,000 in the first four months of the year.
The developer commenced work on a logistics warehouse in the Logistics North development in Manchester. This was prelet to MBDA Systems and joins its Aldi development at the site.
In addition, the company has commenced the next stage of three developments at Rockingham in Barnsley, which were prelet.
The company’s housing development arm has acquired a 320-acre former aluminium smelting site in Newcastle and started development of a 917-unit site in Pontefract alongside Ben Bailey.
Harron Homes has started developing a 1,200 unit site at Torne park in Doncaster for the company and planning consent has been awarded for 230 units across another three sites.
The company now has 7,948 residential plots with consent.
Owen Michaelson, chief executive of Harworth, said: “Activity in the housing market in the regions in which we operate remains strong. Given the strength of the group’s balance sheet, and following careful consideration by the board, we have brought forward capital investment at Logistics North in Greater Manchester and the Advanced Manufacturing Park in Rotherham to ensure we have land available for immediate occupation on the next phases of these developments to take advantage of positive market conditions, which we believe will create long-term value for shareholders.
“As usual, we expect residential and commercial sales for the year to be weighted towards the second half and our performance continues to be in line with management’s expectations.”
