Harworth Gp Regulatory News (HWG)

Harworth progresses plot sales with two housebuilders

Harworth Group plc ("Harworth" or the "Company"), the property regeneration and investment specialist, has completed the sale of engineered housing plots to Taylor Wimpey at Torne Park - the former Rossington Colliery site near Doncaster - and has exchanged contracts with Harron Homes ("Harron") at its Prince of Wales site in Pontefract. The Company also expects to complete a further two sales by the year-end.

Torne Park

Taylor Wimpey has purchased land for 96 plots at Harworth's Torne Park development - the former Rossington Colliery. The plots already have detailed planning consent in place and Taylor Wimpey will deliver a mixture of detached and semi-detached homes.

Harworth secured outline planning consent in December 2012 at Torne Park for a mixed-use scheme, including up to 1,200 new homes, commercial buildings, food retail, a school and a health centre. Planning application for a further 250 houses is intended to be submitted in early 2017.

Harworth has spent the past 24 months undertaking land remediation and infrastructure works for the first phase of development on the site which will deliver up to 166 new homes over the next two years. Harron has already completed the construction of the first 40 homes on the site with sales beginning at the start of this year. Alongside Taylor Wimpey, Harron will continue with the construction of their remaining 30 homes, delivering a range of four-bed detached homes.

Prince of Wales

In a separate transaction, Harron has exchanged contracts to purchase 89 plots at Harworth's Prince of Wales site in Pontefract. The purchase is Harron's second at the development and will deliver a selection of two, three and four-bed homes over the next 18 months. The contract is conditional upon the grant of a reserved matters planning consent for Harron's house types, which has already been submitted to Wakefield council with a decision expected by December.

The wider Prince of Wales site has outline consent in place for residential and employment development and associated public open space. 150 homes have already been built out over the past 18 months by Harron and Avant Homes. The site is Pontefract's largest new housing development.

Commenting on the sales, Owen Michaelson CEO of Harworth Group said:

"We are pleased to complete the sale of plots to Taylor Wimpey and to exchange contracts with Harron Homes, which continues our program of phased sales from our sites. We believe these deals are a clear reflection of the continuing momentum in regional housebuilding - which has resumed in full following the short hiatus after the referendum vote in June - and underpin the fact that the UK still needs land for new housing."

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About Harworth Group

Harworth Group plc is one of the leading regeneration specialists in the UK. Harworth owns and manages over 22,000 acres of land across approximately 150 sites, ranging from residential development land to commercial properties, low-carbon energy schemes and agricultural estates.

www.harworthgroup.com