Friday, August 10, 2012

News: Progress for Harworth at Waverley


Rotherham-based Harworth Estates has made visible progress at their major development at Waverley of the last few months.

UK Coal has reported their "disappointing" financial results for the half year ended June 30 which saw revenue fall 23% to £198.3m and a loss after tax and exceptional items of £20.6m.

The Doncaster firm has also agreed in principle a complex restructuring plan with funders.

Harworth Estates is the property arm of UK Coal and one of the largest landowners in the UK with access to over 30,000 acres of land. They moved their offices last year to the Advanced Manufacturing Park which sits on the site of the former Orgreave Colliery and proposed £100m Waverley community development.

The first half of 2012 saw work begin on the first phase of 4,000 homes at Waverley with some off-plan sales already secured and show homes are due to open in the autumn.

National housebuilders are on site with 89 dwellings from Taylor Wimpey, 96 from Barrat Homes and 66 by Harron Homes.

Planning has also been granted for a training centre for the University of Sheffield at the commercial development at Waverley which has also seen the completion of two land sales contracts with Rolls-Royce totalling 34 acres at the AMP.

Rolls-Royce begun the construction of a state-of-the-art Advanced Blade Casting Facility that will be capable of manufacturing 100,000 blades per year when fully operational in 2014.

Plans have also been submitted for a 21,000 sq m "Project PoWeR" facility that is proposed for manufacturing and assembling power vessels for the next generation of nuclear power stations. It will bring another 180 of the initial 360 jobs from Rolls-Royce.

Progress with the commercial side of the Waverley site also continued with around 100 acres of commercial land being included within the Sheffield Enterprise Zone that provides financial incentives for businesses.

Harworth Estates was also a key property owner in a bid submitted to government for Regional Growth Fund monies to help forward fund key infrastructure at Waverley and accelerate development.

An outline planning application has also been submitted for the redevelopment and regeneration of the former colliery at Rossington in Doncaster, which has lain vacant and derelict since is closure and demolition in 2007.

The company has also been working on a disposals programme, selling properties for £16.7m in the period giving a profit on disposals of £0.4m.

Harworth Estates website

Images: Advanced Manufacturing Park / twitter


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