Developer Harworth Group sold £33.6m worth of serviced land in the final quarter and has predicted that full-year results would come in ahead of expectations.
In a trading update, Harworth said it sold more than 55 acres of land comprising 669 residential plots and 41,800 sq ft of commercial space in the final months of the year.
Meanwhile, it bought more than 117 acres for £7m, growing its long-term land pipeline to 30,668 residential plots and 27.3m sq ft of employment space.
The company said that more than 2,500 residential plots and 1.2m sq ft of workspace were in the planning system waiting for approval.
Chief executive Lynda Shillaw (pictured) said: “Our regional markets in the North of England and the Midlands remain strong and I am confident that Harworth can play a key role in helping local and central government to deliver on their core agendas.”
She added: “There is still some way to go to get back to a normal business environment in 2021.
“Through what we have achieved in 2020, Harworth has already shown its resilience and we continue to progress schemes across our portfolio, remaining well-positioned to deploy our skills and scale to deliver growth and sustainable long-term shareholder returns.
“We are currently undertaking a comprehensive review of the business to ensure that we optimise the returns from our portfolio (including our pipeline) and deploy appropriately our expertise to capitalise on opportunities in the residential and industrial markets.”
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