Harworth, the industrial and residential strategic land business, is to beef up its regional offices as it prepares for future growth.
Half year results, announced on 11 September, showed net asset value per share continuing to surge with 10.9% growth in its net asset value. Profits were also up sharply.
The business is now working on around 1 million sq ft of commercial floorspace including the 350-acre Ironbridge power station in Shropshire, acquired for around £5 million.
A new regional boss has been recruited for Manchester, where a five-strong team is being assembled. An appointment is now pending in Birmingham where a similar five-strong team is being put together.
“We’re committed to a regional structure for growth,” Harworth Group Chief Executive Owen Michaelson said “Our model is much more around local stakeholders so we want people on the ground. We’ve yet to announce an appointment for Birmingham, but we have two or three others working out their notice before joining us.”
“The immediate impact is going to be further announcements about new site purchases. Our business model requires us to move on, and we have already made purchases in Coalville and Ironbridge.”