Sales proceeds from the secondary industrial site to be recycled into higher returning opportunities
Harworth Group plc, a leading regenerator of land and property for sustainable development and investment, is pleased to announce that it has completed the sale of Etherow Industrial Estate in Glossop, Derbyshire for £8.1m, a 3% premium to book value.
Etherow Industrial Estate was acquired on long leasehold by Harworth in 2019 and comprises 148,000 sq ft of multi-let warehouse and office space across a total area of 10 acres. Occupiers include Howdens, Tom Howley, Apex Self Storage and Wray Mechanical.
Harworth has completed an extensive asset management programme at the site, including the acquisition of the freehold, demolition of an office building to increase open storage availability, a refurbishment and lease renewal for the Apex Self Storage unit and lease re-gears for all other occupiers.
The site was part of Harworth’s £305m Investment Portfolio of industrial & logistics units that together generated a recurring rental income of £18.3m as at 31 December 2025. Its sale is part of the Group’s strategy to transition its core Investment Portfolio to 100% Grade A, by retaining high-specification units that it has developed while selectively disposing of both secondary assets where the viability to transform or upgrade is limited and older Grade A assets where it has delivered its asset management plans.
Harworth reported that 76% of its core Investment Portfolio was Grade A as at 31 December 2025, increased from 63% a year earlier and 20% in 2020. The strong progress in 2025 was driven by the Group developing new Grade A units at the Advanced Manufacturing Park, Rotherham and Droitwich, Worcestershire, while disposing of five assets for a total of £47.7m. In recent weeks, Harworth has confirmed the completion of two pre-lets at Gateway 36, Barnsley and Chatterley Park, Staffordshire, which will add 139,300 sq ft of Grade A space to the portfolio. A third pre-let, for a 180,000 sq ft unit at the Advanced Manufacturing Park, is currently in legals.
Jonathan Haigh, Chief Investment Officer at Harworth commented: “The disposal of Etherow Industrial Estate at a premium to book value demonstrates strong levels of demand in our regional markets and is a further important step towards transitioning our Investment Portfolio to 100% Grade A. The proceeds of the sale will be recycled into higher returning opportunities aligned to powered land and industrial growth sectors.”