Harworth Group plc announces that is has completed the sale of a 24-acre plot at its Gateway 36 logistics site in Barnsley, Yorkshire, to Firethorn Barnsley Limited (“Firethorn”) for £11.6 million.
Firethorn will develop a BREEAM ‘excellent’ rated, 340,000 ft logistics facility at the plot, which forms part of the latest phase of development at Harworth’s Gateway 36 project.
Harworth received a resolution to grant planning consent for Phases 2 and 3 of its Gateway 36 development from Barnsley Council in 2020, which, in its entirety, will comprise a total of 1.1 million sq ft of new logistics and manufacturing space across 95 acres of land. The scheme is expected to support the delivery of up to 2,500 jobs in Yorkshire.
This sale builds on the success of Phase one of Gateway 36, which comprised the direct development by Harworth of c. 145,300 sq. ft of industrial and logistics space across four units, which were sold to Mayfair Capital in 2018. Existing occupiers on the site include Esco, Talurit, Environment Agency and Car Supermarket.
Located close to Junction 36 of the M1 in Barnsley, the site provides occupiers with direct motorway links to Leeds, Sheffield and Doncaster. Gateway 36 is supported by £3.1 million of funding from Sheffield City Region, with all of the facility now drawn down contributing to the infrastructure that has opened up development of the site. Harworth intends to begin its next phase of direct development at the site in 2022.
“This sale to Firethorn is part of a coordinated strategy to realise our vision for Gateway 36 as a major hub for both large and small footprint logistics and manufacturing in Yorkshire. Since acquiring the site, Harworth has transformed the former Rockingham Colliery into a new high-quality development, which benefits from a position adjacent to Junction 36 of the M1.
“This transaction also demonstrates the current market demand for strategically located sites, which are in short supply in the region. Together with the recent sale of our Antsy strategic land site, the proceeds will be recycled into our ongoing development pipeline as well as growing our landbank as we deliver on our strategy to double the size of the business over the next five to seven years.”Andrew Blackshaw, Chief Operating Officer, Harworth Group plc
“Our strategic approach at Firethorn is to identify and unlock the potential of strong development sites across the UK, to meet the growing need for sustainable, flexible and high-quality logistics accommodation. We are delighted to add this site at Gateway 36 to our logistics portfolio, and with the ever-increasing demand for industrial schemes in Yorkshire, we look forward to delivering our plans at pace.”Dan Green, Associate Director, Firethorn Trust
Harworth was advised by Knight Frank and Gent Visick.