Harworth Estates secures major investment funding for Waverley

Harworth Estates has provisionally been awarded over £10 million to help accelerate the development of our Waverley site.

The funding will come from the Homes and Communities Agency’s £474 million Local Infrastructure Fund and their Economic Assets Programme, which are designed to help accelerate the delivery of new employment opportunities and housing. Waverley is one of a small number of key development sites across the UK that have been short listed to receive development funding.

The money will accelerate a further 1.2 million sq ft of employment floorspace at the Advanced Manufacturing Park (AMP) at Waverley. This will be used to prepare the ground on phase 2 of the AMP, and upgrade services and local highway infrastructure making the remaining development land immediately available to potential occupiers.

A further sum has been provisionally offered to help speed the creation of up to 3,600 additional new homes at Waverley. This will also help Harworth Estates to provide essential utility infrastructure such as new roads and a water and waste water pipe network which will help to open up future phases of the wider development.

Owen Michaelson, Chief Executive for Harworth Estates, commented “We’re delighted that the Homes and Communities Agency (HCA) have provisionally awarded this funding which will give a real boost to the Sheffield City region and demonstrates real confidence in both the company and the Waverley site.

“We’ll now go through a period of due diligence, but hope to be investing this money by late summer. As well as providing on-going investment in our Advanced Manufacturing Park providing hundreds of new jobs, it will also help to provide quality new homes.

“With the University of Sheffield, Boeing and Rolls-Royce already building new facilities at the AMP, this investment will really help us make Waverley one of the best sites for high tech manufacturing jobs in the country”.