News: Peel Group makes £583m offer for Harworth Group

One of the leading infrastructure, transport and real estate investors in the UK, The Peel Group, has made a cash offer worth £582.88m for Rotherham-based Harworth Group plc, a leading regenerator of land and property for sustainable development and investment.

The offer is expected to result in "a significant headcount reduction."

Created from what was UK Coal, Harworth Group owns, develops, and manages a portfolio of over 15,000 acres of strategic land over 100 sites located throughout the North of England and Midlands. With a focus on Grade A industrial and logistics (I&L) space and emerging opportunities in the data centre market, the company has a target of £1bn of EPRA NDV - EPRA NDV is how Harworth measures the value of the its assets.

Manchester's The Peel Group is a long-term investor in Harworth, having held various ownership interests in Harworth over a number of years. The Peel Holdings directors believe that Harworth's assets would be best owned, managed and developed under the full control of Peel Holdings.

In its announcement, Peel said that it feels that Harworth's administrative expenses and net interest expenses are too high and increasing, whilst the investment portfolio's passing rental income has decreased. It adds that it expects the EPRA NDV for the first hald of 2026 to be below 31 December 2025 levels following years of increases, and that the NDV target growth rate towards a £1bn valuation is "highly unlikely to be achieved."

The announcement added: "BidCo [Peel] considers Harworth's direct development and hold strategy to be capital-intensive, slow to deliver value and increasingly unable to generate appropriate risk-adjusted returns. As a result, BidCo believes the business should pivot toward strategic land activities and selective development, a model that has a lower cost base and is more effectively executed within a private-company structure."

The largest three shareholders own approximately 75.7% of Harworth's share capital and are being offered a significant premium of 36.9%. to the volume-weighted average share price over the last one-month period.

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Peel would de-list the business from the stock exchange and on jobs, the announcement said: "Following the Offer becoming or being declared unconditional, BidCo expects to review overlapping functions across the Harworth Group, including senior management, corporate, operational, finance, human resources, compliance and other support functions.

"Based on BidCo's preliminary assessment, the Offer is expected to result in a significant headcount reduction and synergies from overlapping functions and the elimination of costs associated with Harworth's status as a listed company. BidCo has not yet determined the number of roles likely to be affected, the timing of any reductions or the specific functions or locations in which any reductions may occur and will provide further information to affected employees in accordance with applicable legal and regulatory requirements."

Harwoth only moved to purpose-built offices at its flagship Waverley development earlier this year. Peel said that it "has not yet determined whether any changes will be made to the location of Harworth's headquarters or headquarters functions, or to the locations of Harworth's other fixed places of business." Any changes will be considered as part of a review into Harworth's assets.

Peel said that it would review Harworth's fixed asset base, including its strategic land bank and investment portfolio, and then intends to accelerate the disposal of selected assets.

Recovery plans for Doncaster-based UK Coal were put in place in May 2011 when the group reported a £124.6m loss and had a £450m pension deficit. The subsequent restructure in 2012 saw the new company, Coalfield Resources, focus on targeting the realisation of its property assets through the Harworth Estates Property Group Limited. Harworth Estates was completely acquired by Coalfield Resources in 2014.

Harworth Group plc grew to be listed on the Main Market of the London Stock Exchange and is a constituent of the FTSE 250 index.

The developer behind MediaCity in Salford and the Trafford Centre, The Peel Group has a chequered history in South Yorkshire, namely through the purchase and subsequent closure of the region's airports.

Harworth Group website
The Peel Group website

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News: 180,000 sq ft pre-let at AMP in Rotherham

A deal has been struck for a new 180,000 sq ft unit at the Advanced Manufacturing Park (AMP) in Rotherham - if approved, it will be the largest unit on what is one of the UK’s leading destinations for advanced manufacturing.

Landowner and master developer, Harworth Group, confirmed the pre-let in its latest trading update.

In its Half Year Trading Update, the leading regeneration, strategic land and development business that has its new HQ alongside the AMP at Waverley in Rotherham, discussed new opportunities for data centres and advanced manufacturing.

Its highlights for the six months to June 30 2026 included deals that have been completed or in legals on three pre-lets for units to be built by Harworth and held in its investment portfolio and are expected to generate £3.7m of rental income a year.

At Gateway 36 in Barnsley, a deal has been signed with for a 30,700 sq ft unit for a logistics operator's new last-mile parcel and postal distribution facility.

A 108,600 sq ft advanced manufacturing facility for an automative parts designer will be built at Chatterley Park, Staffordshire - the first at the development.

And at the AMP, the new 180,000 sq ft unit is for an existing occupier.

Planning documents, seen by Rothbiz, show that Harworth intends to reconfigure a new Plot 1 at the AMP to combine the space granted outline approval for units 1, 6 and 7. An earthworks application would be required before a full planning application for the large unit that would sit between SBD Apparel and Insight Direct.

Overall, with recent deals for Technicut, Vulcan Seals and Danieli, Harworth only has around 200,000 sq ft of the total 2.1 million sq ft of consented development space remaining at the AMP. A completion of the park is expected in 2027.

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Harworth also said that it was progressing a total of 1.5m sq ft of letting and land sale negotiations across the portfolio. Following on from Harworth's first hyperscale data centre transaction, a £106.6m land sale to Microsoft in 2024, the group has identified a second site in its current portfolio.

Due to the scale and strength of opportunities across its industrial & logistics and powered land pipeline, with growing occupier interest, Harworth is now accelerating its reallocation of capital to higher returning opportunities aligned to powered land and industrial growth sectors.

Lynda Shillaw, Chief Executive of Harworth, said: "Harworth specialises in unlocking land at scale, with planning and power secured, and this is key to capturing high-returning development opportunities across the data centre and advanced manufacturing sectors. Our second data centre opportunity that we are highlighting today underlines Harworth's position as one of the most significant regional players in the rollout of the UK's digital infrastructure, working with some of the largest operators in the industry.

"In addition to these opportunities, we have seen strong momentum across our sales and lettings pipeline during the first half and into the second, including the first letting at our 1.1m sq ft Chatterley Park site, to an advanced manufacturer, and a further letting to a national logistics operator at our well-established Gateway 36 development.

"With our unique skillset, extensive land bank and 0.8GW of power connections across our portfolio either conditionally secured or in the pipeline, we are well positioned to accelerate our reallocation of capital to powered land and industrial growth sectors. This in turn will create a simpler, higher-returning platform to deliver sustainable future growth."

Harworth Group website

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News: Fast-growing franchised pizza brand targets Rotherham

A young successful UK pizza chain with a rapid popularity growth in the market looks to be heading to Rotherham.

A vacant unit on College Street in Rotherham town centre would be brought back into use, if plans are approved.

An application has been submitted to Rotherham Council on behalf of Caprinos Pizza, an award-winning brand that offers Italian American cuisine with menu items suitable for adults, children, and to share with family and friends.

Offering "joy in each slice," Caprinos is one of very few pizza brands offering a Halal menu across all of its branches.

The plans are for a change of use for the 980 sq ft unit from a café restaurant to a restaurant and hot food takeaway (sui generis).

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Agents, Smith Surveyors, have the property listed as under offer, having advertised the rent at £15,000 per year.

The application, drawn up by planning consultants, Mason and Marlowe, states: "The property was a restaurant called Jo & Anna’s Zapiekarnia, with a menu that includes burgers, fries, pasta and steak dishes, plus Sunday dinners and English breakfasts. The new owner is Caprinos Pizza. The proposal is for a change of use from café restaurant to a restaurant and hot food takeaway."

From a single store in Didcot in 2014, Caprinos Pizza now operates over 120 stores across the UK, with additional locations in Ireland and Pakistan. The Rotherham move is part of plans to open 20 new UK stores in 2026 and reach 200 UK outlets by 2030.

The chain’s range of pizzas, includes the Asian Classic Mix with tandoori chicken, Vegetarian Supreme, and Caprinos Special featuring tandoori chicken and spicy beef.

The menu also includes sides and salads, loaded fries, wraps, desserts, and milkshakes. Recent new additions to the pizza menu include the Firecracker and La Espanola.

The last pizza chain to open in Rotherham town centre was Papa John's in 2018, but that was one of 43 "underperforming" UK stores that closed in 2024.

Caprinos Pizza website

Images: Caprinos / Smiths

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News: Demolition marks end of a chapter in Rotherham regen scheme

Demolition work is well underway to make way for a brand-new community hub in the heart of a Rotherham town.

Planning permission was granted for a new library at Wath in 2024 as part of a scheme that is backed by government funding.

A new two-storey building will be built on the site of the existing library, as part of a £9.9m community and commercial development being delivered by Rotherham Council. Last year a Stage 1 Pre-construction contract was awarded to Tilbury Douglas following a competitive tendering exercise.

The new Wath Library project is set to include a state-of-the-art library building, improved public realm, redesign of the site to enhance connectivity and visibility of town centre offer, and address perceptions of security, provision of a new commercial unit in prime location on the market square to attract new businesses, improvements to facilities for learning, working, and making, and improvements to the car park.

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Demolition work began in February and as it takes place, stage 4 design work is being carried out.

Cllr. John Williams, Cabinet Member for Transport, Jobs and the Local Economy at Rotherham Council, said: “It’s great to see real progress on site. This project will create a modern, welcoming space for the community and play a key role in Wath’s future.”

In May, Rotherham Council's cabinet approved a further £2.04m for the project which secured £9.9m from the government's Levelling Up funds.

A council report set out that detailed contractor pricing and refinement of the scheme following appointment had "identified cost pressures that cannot be accommodated within existing contingencies."

Cost increases were due to an increase in demolition costs of around £800k, largely due to the presence of previously unidentified and significant levels of asbestos.

An increase in construction costs and inflationary increases due to delays in tendering, contractual negotiations, design and cost assessments and additional design fees all added to the rising costs.

An option to stick with the original £9.9m budget was discounted as providing a smaller building footprint and changing to the external design would require a full redesign and new Planning approval, causing significant delays to the project.

The report adds: "The scheme for Wath Library was developed with the aim of transforming this prominent site in one of the Borough’s principal settlements, with high quality place making in order to restore the cultural heart of the town centre, increase footfall, boost the local economy, and restore a sense of pride within the community.

"The scheme includes demolition of the existing library and the creation of a brand-new library to deliver a modern, inviting, and inclusive community facility. The redevelopment is designed to enhance the visitor experience between Biscay Way and the High Street to encourage visitors into the town centre."

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News: Vistry submits plans for 785 more homes in Rotherham greenbelt

A planning application has been submitted for the largest single development yet for so-called "safeguarded land" in Rotherham.

Rothbiz has reported on a number of recently proposed developments in Rotherham that are for sites in the local plan that were designated as "safeguarded land" rather than sites designated for housing. The 2018 plan set out that they may be needed in the future and taken out of the greenbelt after the end of the plan period in 2028.

Planning consultants are hoping to convince the local planning authority that the land should be used now to address the borough's housing needs.

Rothbiz reported last year that Vistry Group, the company that builds more UK homes than anyone else, had engaged with agents to begin planning enquiries with Rotherham Council on a large parcel of farm land near Dinnington.

Now an application has been submitted for up to 785 dwellings on 26.28 hectares of agricultural land at Oldcotes Road.

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Savills listed the site near Throapham for sale as development land. Historically in arable use, it is next to a smaller residential development site to the west which is owned by Harron Homes and is under development.

Rotherham Council is no longer able to demonstrate a Five-Year Land Supply given the changes at a national level that have increased housing targets. The target for new house building per annum in Rotherham has increased from circa 560 dpa (Dwellings Per Annum) to 1,111 dpa.

Savills, the agents for Vistry, said in the plans that "speculative planning applications for residential development in sustainable locations represent the only way to realistically meet this clear need for housing.

"The proposed development will make contributions necessary to mitigate impacts on infrastructure that places it above capacity. This would be in addition to payments required via the Community Infrastructure Levy (CIL).

"Due to the scale of development, there will be a material increase to the use of local services. There are no services where this effects of this would be severe and mitigation measures are possible. Such increases where they exceed the capacity of existing services will be funded through the Section 106 agreement and through the Community Infrastructure Levy."

With two main access points, one via Heathrush Drive onto Oldcotes Road, and one via Leys Lane, plans show a range of house types and sizes with at least 25% affordable housing. The application also includes details of play areas and open space and a SUDS (Sustainable Drainage System) attenuation basin.

Vistry Group website

Images: Vistry / Google Maps

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