Regeneration, land owner and developer Harworth Group plc has completed headline sales of £92.5m in H2-2025, bringing total sales for FY2025 to £110.2m.
This included 25 transactions completed with £58.2m of sales across I&L and £52m of Residential plot sales.
The sale of five core Investment Portfolio assets totalling 800,000ft² for a headline sales value of £47.7m – reflecting a blended net initial yield of 7.6% – was also revealed.
Taking into account announced sales and 250,000ft² of new development delivery over 2025, the Investment Portfolio is now 75% Grade A by value, (2024: 63%).
Harworth announced the sale of 1,837 total plots, 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.
Harworth chief executive, Lynda Shillaw, said: “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.”
