Thursday, March 17, 2016

News: Harworth enters Leeds EZ JV

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Rotherham-based developer Harworth Group plc has entered into a joint venture with the Leeds-based Evans Property Group following the purchase of 50% of Aire Valley Land LLP from Keyland Developments Ltd.

A specialist in brownfield regeneration, Harworth Estates, which is based at Waverley, is one of the largest property and regeneration companies working in the North of England and the Midlands. It is wholly owned by Harworth Group plc which was created through the complex restructure of what was UK Coal.

Keyland Developments is the sister company to Yorkshire Water and a subsidiary of the Kelda Group which has been regenerating Yorkshire Water's redundant sites for over 20 years.

Aire Valley Land was established as a joint venture between Evans Property Group and Keyland Developments Ltd.

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The 165 acre Temple Green site, situated at J45 of the M1, was outlined for a £96m regeneration scheme and is set to attract occupiers with large requirements who will benefit from being within the Leeds City Region Enterprise Zone (EZ).

The site sits next to Harworth's 162 acre Skelton Grange site and benefits from a number of extant planning permissions and covers 2.64m sq. ft. of commercial space including for Logistics and Distribution.

Harworth acquired the site of the former Skelton Grange power station from RWE Generation in 2014. It was Harworth's first major non-coalfield acquisition. The site offers the potential for development for distribution, open storage and energy generation uses.

A £7.5m infrastructure and groundwork programme got underway at the newly acquired adjacent site last year.

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."

Harworth Estates website

Images: Evans Property Group

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