Harworth Group PLC Harworth enters into 50:50 Joint Venture

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Harworth Group PLC

16 March 2016

Harworth enters into 50:50 Joint Venture following a major site acquisition in Leeds

Harworth Group plc ("Harworth" or the "Group"), the property regeneration and investment specialist, has entered into a joint venture with Evans Property Group following the purchase of 50% of Aire Valley Land LLP from Keyland Developments Ltd.

Aire Valley Land LLP is the owner of Temple Green, a 165 acre logistics hub in the Leeds City Region Enterprise Zone. Temple Green, which sits next to Harworth's 162 acre Skelton Grange site, acquired in November 2014, benefits from a number of extant planning permissions and covers 2.64m sq. ft. of commercial space including for Logistics and Distribution.

This acquisition further replenishes and builds on Harworth's strategic landbank for the medium and longer term and follows the previous key commercial acquisitions of the 162-acre former Skelton Grange power station in Leeds; the 320-acre former aluminium smelter in Lynemouth, Northumberland; Sinfin Lane Industrial Estate in Derby; and, the 112 acre former McCormick Tractor site at Wheatley Hall Road in Doncaster.

Owen Michaelson, Chief Executive of Harworth Group, said: "This is a landmark deal for Harworth, firmly establishing our foothold in the Leeds Property market and reaffirming our commitment to the Northern Powerhouse. It is also further evidence of the Group delivering on its strategy of continuing to replenish the portfolio.

"With our extensive experience in bringing forward large commercial sites, we look forward to working in partnership with Evans Property Group to deliver a commercial scheme of national significance and further building on our success at Logistics North in Bolton and the Advanced Manufacturing Park in Rotherham. With the site adjacent to our existing Skelton Grange holding, we also see potential complementary development opportunities."

-ENDS-

Enquiries:

   Harworth Group plc                                                        [phone] 

Owen Michaelson, Chief Executive

   Cardew Group                                                                  [phone] 

Emma Crawshaw

Notes to Editors:

Harworth Group plc is a leading property investment company which owns and manages a portfolio of some 27,000 acres of land across approximately 200 sites located throughout the Midlands and North of England. The Group specialises in the regeneration of former coalfield sites and other brownfield land into employment areas, new residential properties and low carbon energy projects.

http://www.harworthgroup.com/

This information is provided by RNS

The company news service from the London Stock Exchange

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March 16, 2016 03:02 ET (07:02 GMT)