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21/06/2024
Harworth Completes Sale Of Land Parcel To Taylor Wimpey
Harworth Group has completed the sale of a serviced land parcel at Benthall Grange, its major mixed-use development on the site of the former Ironbridge Power Station in Shropshire, to Taylor Wimpey for £19.55 million.
The £19.55 million sale price reflects a premium to the 31 December 2023 book value and highlights the value Harworth creates through its role as a master developer, with this site being a leading example of Harworth’s ability to deliver next-generation large-scale developments. Proceeds from the residential land sale provide the Group with funds to bring forward regionally significant projects as well as accelerate its industrial and logistics direct development programme.
Harworth secured planning for the regeneration of the former Ironbridge Power Station in September 2021, having acquired the 350-acre site in June 2018. In addition to over 1,000 new homes, plans for the development include a retirement village, up to 200,000 sq. ft of employment space and a local centre offering convenience retail and other services. Community amenities will include a new primary school, allotments and sports pitches, while the former power station’s 1930s pumphouse will be retained as part of the proposals and transformed into a flexible space for community and leisure uses.
The scheme is expected to be delivered by 2030.
The £19.55 million sale price reflects a premium to the 31 December 2023 book value and highlights the value Harworth creates through its role as a master developer, with this site being a leading example of Harworth’s ability to deliver next-generation large-scale developments. Proceeds from the residential land sale provide the Group with funds to bring forward regionally significant projects as well as accelerate its industrial and logistics direct development programme.
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Harworth secured planning for the regeneration of the former Ironbridge Power Station in September 2021, having acquired the 350-acre site in June 2018. In addition to over 1,000 new homes, plans for the development include a retirement village, up to 200,000 sq. ft of employment space and a local centre offering convenience retail and other services. Community amenities will include a new primary school, allotments and sports pitches, while the former power station’s 1930s pumphouse will be retained as part of the proposals and transformed into a flexible space for community and leisure uses.
The scheme is expected to be delivered by 2030.
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