Harworth Group plc, a leading regenerator of land and property for sustainable development and investment, has completed the sale of 15.6 acres of serviced residential land at its Stopes Road development near Little Lever in Bolton, to Taylor Wimpey UK Limited (“Taylor Wimpey”), for £8.5 million.
The site lies adjacent to Stopes Road, less than a kilometre from Little Lever town centre, and close to a large residential area to the south. Prior to its acquisition by Harworth in 2020, the site had been occupied by Tarmac and used for the manufacture and storage of concrete blocks. Harworth has since removed the manufacturing infrastructure and remediated the site, having secured outline planning in 2021 for the delivery of up to 132 new homes. The masterplan comprises a mix of housing types to meet the needs of the local community, as well as improvements to road infrastructure and access.
The £8.5 million sale price was agreed following a competitive process with local and regional housebuilders, the momentum in recent residential land sales further evidences the strong demand for Harworth’s serviced land and the robustness of the UK residential market. The Group remains on track with its sales target for 2024 and will continue to selectively acquire strategic land to regenerate and transform into high quality land parcels for Residential uses.
In line with the Group’s strategy, the proceeds from Residential land sales will be reinvested into its Industrial & Logistics development programme, focused on increasing the delivery of Grade A investment properties retained in its Investment Portfolio.
“This sale is the second that we have completed with Taylor Wimpey across our major residential developments in the space of just a few weeks, and highlights the continued demand from national housebuilders for Harworth’s serviced land. Our Stopes Road development is another great example of how Harworth utilises its specialist skillset to unlock value from complex land and highlights the intrinsic value in our pipeline.
“The regeneration of this scheme will deliver a thriving new community, bringing additional housing, jobs and investment to the local area whilst also providing residents with extensive green space and landscaping to enhance biodiversity, alongside improvements to road and footpath access.”
Lynda Shillaw, Chief Executive, Harworth Group plc