(Alliance News) - Property developer and land regenerator Harworth Group PLC has added over GBP500,000 worth of income with three new lease agreements, it said on Thursday.
In the first deal, Harworth has agreed a 20-year let with the UK Atomic Energy Authority for a 25,000 square foot fusion technology research facility in Rotherham, Yorkshire. This will be completed in September next year, with construction starting in January.
Secondly, Harworth has bought a 65,156 square foot commercial unit in Brighouse, West Yorkshire, for GBP3.6 million. A decade-long lease has been signed with Mobus Fabrics Ltd, starting in January.
Lastly, the company has re-let a 134,780 square foot site at the Walton Summit business park in Preston, Lancashire, to H Parkinson Haulage for a three-year period, at a rent 7.6% higher than before.
Chief Executive Owen Michaelson said: "Growing the size and quality of our recurring income portfolio remains a strategic priority for the business, acting both as a source of value gain and improving Harworth's long-term resilience. We look forward to taking advantage of further income-producing opportunities over the next few months."
Nottinghamshire-based Harworth's shares were 0.7% higher on Thursday morning in London at a price of 140.00 pence each.
By George Collard; georgecollard@alliancenews.com
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Harworth Gp (HWG)