Harworth Group plc (LON:HWG), a leading regeneration, strategic land owner and developer, has completed headline sales of £92.5m in H2-2025, bringing total sales for FY2025 to £110.2m.
Key highlights include:
· 25 transactions completed with £58.2m of sales across I&L1 and £52.0m2 of Residential plot sales.
· Industrial & Logistics (‘I&L’): Sale of five3 core Investment Portfolio assets totalling 0.8m sq ft for a headline sales value of £47.7m, reflecting a blended net initial yield of 7.6%, and overall were ahead of June 2025 book values. Taking into account announced sales and 250,000 sq ft of new development delivery over 2025, the Investment Portfolio is now 75%4 Grade A by value, (2024: 63%).
· Residential plots: Sale of 1,837 total plots5, in-line with the four-year average and business plan expectations on the back of record 2024 sales volumes. Overall, sales completed at a discount to June 2025 book values, reflecting prevailing market conditions. A further 746 plots are conditionally exchanged, with 155 plots expected to complete imminently.
Lynda Shillaw, Chief Executive of Harworth, commented: “I am encouraged by the level of sales achieved against a challenging macroeconomic backdrop. The delayed Budget weighed on investor sentiment in H2, pushing many transactions into the final weeks of the year.
“Our disciplined disposal and recycling programme in conjunction with our self-imposed target LTV of below 20% at year-end remains fundamental to our capital allocation plan to unlock value for our sites. In line with our ambition for the total portfolio to be 85% weighted to I&L, we are reinvesting proceeds primarily into I&L opportunities and expanding our development pipeline as a key driver of growth.
“A core component of our Investment Portfolio strategy is to improve the quality to Grade A through development, active asset management, and selling assets where we have completed asset management plans. Since the strategy was launched in 2021, the team have transformed the portfolio, improving Grade A to 75%, by value, up from 23%.
“The quality of our serviced land product, the expertise of our team and our deep market relationships underpin our confidence in bringing forward an attractive development pipeline to expand our Investment Portfolio and generate development profits and cash.”
Financial calendar key dates
Harworth will announce a Trading Update for the year ended 31 December 2025 later this month, followed by its Preliminary Results announcement and Investor & Analyst Presentation on 17 March 2026.
Notes
1. £47.7m of I&L IP sales and £10.5m of Natural Resources and other I&L
2. Includes element of deferred consideration
3. A19 Business Park (North Yorkshire), Brierley Hill (West Midlands), McLaren unit at AMP (South Yorkshire), Sherburn in Elmet (West Yorkshire) and 6 acres of open storage at Saturn Business Park (Merseyside)
4. Prior to 31 December 2025 valuations
5. 725 of Planning Promotion Agreement (PPA) plot sales and 1,112 freehold Residential plots generating £52.0m of headline sales
