Harworth acquires 88-acre Staffordshire zone site

Harworth, the logistics developer, has acquired an 88-acre Staffordshire enterprise zone site.

The £2.6m acquisition at Chatterley Valley, next to the A500, borders Harworth’s existing 24-acre Staffordshire site. The combined development has existing planning permission for 1.2m sq ft of commercial floorspace.

Harworth has also acquired a 145-acre predominantly housing site in Leicestershire.

Both sites have been purchased using part of the £27.1m raised from the Company’s equity placing in March 2017.
 
These deals bring the total volume of commercial development capacity currently under Harworth’s ownership to 11.2m sq. ft.

Commenting on these deals, Owen Michaelson, Chief Executive Officer, said: "The outlook in the Midlands market remains healthy, driven by the scarcity of good quality new commercial units.”

Harworth are expected to announce further land purchases by the end of the year.