Harworth Group plc, a leading regenerator of land and property for sustainable development and investment, is pleased to announce the freehold acquisition of a 107-acre strategic land site in Rothwell, Northamptonshire.
Located at Junction 3 of the A14, connecting to the A6, the site has a strong strategic position within the prime Midlands industrial location known as the ‘Golden Triangle’. Through links to the M1, M6 and A1(M), the site provides access to over one million people within 30 miles.
Harworth will work with local stakeholders, including the newly-formed North Northamptonshire unitary authority, to bring forward an outline planning application for up to 1.5 million sq ft of Grade A industrial & logistics space at the site, which it intends to directly develop. Local Plans for the area have already identified a strong demand for employment space and specifically industrial units, and Harworth intends to promote the site as a means of meeting this demand as the North Northamptonshire Strategic Plan is prepared.
This acquisition will enhance Harworth’s existing 26.2 million sq ft industrial & logistics pipeline, of which 9.0 million sq ft is already consented, and is aligned to its recently announced strategy to increase direct development of industrial & logistics stock. This strategy forms part of Harworth’s ambition to double the size of its business over the next five to seven years.
Harworth currently anticipates that it will submit an outline planning application for the site in 2023.
“In September, Harworth announced plans to develop over three million sq ft of industrial & logistics units over the next five years, as part of its ambitious strategy to double the size of its business. Harworth is a highly experienced developer with a pipeline of over 26 million sq ft. of industrial & logistics space, and our Rothwell acquisition enhances this further and demonstrates our ability to deliver our strategy.”
Andrew Blackshaw, Chief Operating Officer, Harworth Group plc
“This freehold acquisition offers the potential to deliver up to 1.5 million sq ft of Grade A industrial & logistics space at this strategically located site within the Golden Triangle. It provides a timely opportunity to engage with local stakeholders as the North Northamptonshire Strategic Plan emerges, to demonstrate how Harworth can deliver sustainable new investment and jobs for the region.”
David Cockroft, Regional Director – Midlands, Harworth Group plc