Harworth Group PLC on Friday said it secured planning permission for an industrial and logistics development worth up to £190 million.
The Rotherham, England-based firm is a regenerator of land and property for sustainable development and investment.
The company said it eceived a resolution from North Yorkshire Council’s Strategic Planning Committee granting planning permission to develop a major rail-connected industrial and logistics site.
Located on a 185 acre Gascoigne Interchange brownfield site in Leeds, the development will cover up to 1.5 million square feet and has the potential to deliver £190 million gross development value.
In March, the company said that whilst economic uncertainty continues, structural drivers of demand in the industrial and logistics market remain largely intact with supply relatively constrained. The project therefore aligns with Harworth’s strategy to increase direct development of industrial and logistics space from its land bank.
Harworth expects to begin construction of seven Grade A specification units, ranging from 57,000 sq ft to 1.0 million sq ft, in 2025.
‘It is one of the most strategically located, rail-connected sites in the region, enabling future occupiers to utilise the existing main line rail connection from the site for a wide variety of uses, including low carbon freight movement,’ Harworth said.
Harworth shares were up 3.3% to 143.00 pence each in London on Friday morning.
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