Harworth Group PLC Planning secured for £50m Waverley development
27 October 2017 - 5:00PM
RNS Non-Regulatory
TIDMHWG
Harworth Group PLC
27 October 2017
27 October 2017
Harworth Group plc ("Harworth" or the "Company")
Planning secured for GBP50 million retail, leisure and community
centre at flagship Waverley development
- Demonstrates further momentum at Waverley following
residential land sales and new lettings at the Advanced
Manufacturing Park in Summer 2017 -
Harworth Group plc, the brownfield regeneration and property
investment specialist, has received planning approval from
Rotherham Council for a major retail, leisure and office scheme
that will act as the local centre of its flagship 740 acre mixed
use development at Waverley, Rotherham. This new phase is further
evidence of the Company's success at placemaking which has seen it
transform a reclaimed former industrial site into a thriving
residential and business community. On completion Waverley will
provide circa 4,000 homes and over 2m sq. ft. of leading employment
space at the world renowned Advanced Manufacturing Park (AMP).
The local centre will involve the delivery of over 190,000 sq.
ft. of mixed-use space that will be developed by Waverley Square
Limited, a joint venture between Harworth Group plc and Dransfield
Properties Ltd.
The scheme will include:
-- Healthcare and new community facilities, including a new bus station
-- Up to 99,000 sq. ft. for a new foodstore and retail space
-- High specification office space covering 38,000 sq. ft.
-- Restaurants, coffee shops and a gym
-- A car park with up to 500 customer spaces as well as a separate staff car park.
Development is expected to take around two years to reach full
build out, with construction work due to begin in Spring 2018. On
completion it will act as central hub, linking the AMP and the
growing residential development at Waverley, which currently
comprises over 700 homes.
Momentum at the 20 year regeneration scheme continues to grow.
At the AMP, Harworth secured a 20 year pre-let to leading sports
car manufacturer McLaren Automotive in July for a brand new 75,000
sq. ft. unit, joining other major employers including Boeing,
Rolls-Royce and the University of Sheffield's Advanced
Manufacturing Research Centre (AMRC). This unit is due for
practical completion in Spring 2018.
Residential land sales also continue to perform strongly with
the most recent sale in June of 8.17 acres being made to national
housebuilder Taylor Wimpey for the delivery of 130 new homes.
Exchanges on further land sales to housebuilders at Waverley are
expected shortly, ahead of completion by year end.
Owen Michaelson, Chief Executive of Harworth, commented:
"Delivering these local facilities in partnership with Dransfield
Properties Ltd will create a genuine heart for the Waverley
community, being a place where local residents, employees and
students can satisfy their everyday retail and leisure needs. We
see this as a critical phase in the development of the entire 20
year scheme and provides further evidence of Harworth's placemaking
abilities.
"We have seen numerous successes at Waverley over the past
twelve months in terms of both residential and commercial delivery
and we expect the development to continue to be a strong driver of
capital and income growth for the business for many years to
come."
Enquiries:
Harworth Group plc
Iain Thomson T: T: 0114 349 3131/07825
860215
ithomson@harworthgroup.com
FTI Consulting T: 020 3727 1000
Dido Laurimore Harworth@fticonsulting.com
Richard Gotla
Tom Gough
About Harworth Group
Listed on the main market, Harworth Group plc (LSE: HWG) is a
leading brownfield regeneration and property investment specialist
which owns, develops and manages a portfolio of approximately
21,000 acres of land on 139 sites located throughout the Midlands
and North of England. The Company specialises in the regeneration
of former coalfield sites and other brownfield land into employment
areas, new residential developments and low carbon energy
projects.
http://www.harworthgroup.com/
About Dransfield Properties
Formed in 1992 Dransfield Properties is a South Yorkshire based
company which specialises in retail led regeneration, primarily
focussed on town and district centres. The company works with some
of the leading names in the retail industry and has a property
portfolio which includes award winning centres in both Morpeth in
Northumberland and Gainsborough in Lincolnshire. In the last 18
months the company has also launched the Fox Valley development in
Stocksbridge, north Sheffield.
http://www.dransfield.co.uk/
About Waverley
Situated two minutes' drive from Junction 33 of the M1, Waverley
is Yorkshire's largest ever brownfield development. Set over 740
acres, Harworth will be delivering a new community of 3,890 homes
alongside 2m sq. ft. of commercial space at the world-renowned
Advanced Manufacturing Park, supported by a new local centre and
over 300 acres of public open space. To date over one million sq.
ft. of employment space has been developed, with over 1500 people
employed by organisations including Boeing, Rolls-Royce and the
University of Sheffield's Advanced Manufacturing Research Centre
(AMRC). Over 700 homes have also been built and occupied on the
site in the past five years by Taylor Wimpey, Barratt, Harron Homes
and Avant Homes.
This information is provided by RNS
The company news service from the London Stock Exchange
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