Sustained Industrial & Logistics momentum & strategically positioned to unlock high value opportunities
Harworth Group plc, a leading regeneration, strategic land and development business, today announces its results for the year ended 31 December 2025.
“I am pleased with the performance of our teams and our operational execution throughout 2025, positioning the portfolio to realise future upside potential and delivering a total property return of 8.4%, outperforming the MSCI UK Annual Property Index of 5.6%. As we continue to execute our strategy and reposition the portfolio towards I&L, our long-term through-the-cycle model, management actions and disciplined approach to capital deployment remain essential to creating value for shareholders, including our £1bn of EPRA NDV ambition and high-single, low double-digit total accounting return target. Over the last five years to 2025, the sustained delivery of our strategy has delivered cumulative Total Accounting Returns of 44.5%.
“Harworth is at the intersection of some of the UK’s most powerful trends, including data, advanced technologies, reindustrialisation and clean growth. Our land bank provides both strategic levers and optionality to generate attractive risk-adjusted returns, and the Harworth Platform underpinned by our specialist skills and ability to deliver successful serviced land and developments for world-leading businesses is central to stimulating and supporting economic growth in our regions.
“Land at scale, suitably zoned and power-enabled, is key to accessing emerging market opportunities such as data centres. For a subset of sites, we have been actively pursuing upside opportunities with 0.8GW of power connections either conditionally secured or in the pipeline with Network Operators. Together with further applications currently advancing, these represent significant progress towards both near and longer-term transactions that have the potential to deliver enhanced value gains and superior returns.
“While we are monitoring the conflict in the Middle East and its potential impact on the UK economy and our markets, we remain encouraged by a continued pipeline of strong interest across our I&L land and property portfolio of 1.6m sq ft. We are in a strong position to capitalise on market trends and unlock value to crystallise attractive medium-term opportunities, giving the Board confidence in Harworth’s potential to deliver exciting projects and achieve attractive shareholder returns.”
Lynda Shillaw, Chief Executive, Harworth Group plc
Read the full RNS Announcement here.
Notes:
1. All values are Harworth’s share, unless noted otherwise
2. Represent our Alternative Performance Measures (APMs). A full description of these is set out in Note 2 to the financial statements with a reconciliation between statutory measures and APMs set out in the Appendix to the financial statements
3. European Public Real Estate Association Net Disposal Value
4. Total Property Return (TPR) is the ungeared return of the portfolio as a percentage of capital employed. TPR figures calculated by MSCI.
5. A reconciliation of Total property sales is set out in the Appendix
6. Residential plot sales for 2025 includes 1,112 freehold plot sales and 725 plot sales through Planning Promotion Agreements (PPAs)
7. The Investment Portfolio represents our primary income generating I&L portfolio. It excludes Strategic Land, Major Developments, Natural Resources, and Agricultural land
8. Measured by value. Grade A by area is 64%
9. The financial highlights represent our statutory measures
10. The Ex-dividend date, Record date and Payment date for the 2025 final dividend can be found in the Shareholder Information section of this announcement
11. Statutory portfolio value includes investment properties, development properties, Assets Held for Sale (AHFS), occupied properties and investment in joint-ventures, refer to Note 2 to the financial statements