Harworth Group PLC on Friday said it sold Taylor Wimpey PLC a residential plot with planning permission for 132 homes, in the second major transaction between the two firms in recent weeks.
Taylor Wimpey, a High-Wycombe, England-based house builder, bought the 15.6 acre plot at the Stopes Road development in Bolton from Harworth for £8.5 million.
Harworth, a Rotherham, England-based regenerator of land and property, had acquired the former concrete manufacturing site in 2020.
Since then, Harworth removed the manufacturing infrastructure and secured planning permission in 2021 for up to 132 new homes.
Harworth Chief Executive Lynda Shillaw said: ‘This sale is the second that we have completed with Taylor Wimpey across our major residential developments in the space of just a few weeks, and highlights the continued demand from national housebuilders for Harworth’s serviced land. Our Stopes Road development is another great example of how Harworth utilises its specialist skillset to unlock value from complex land and highlights the intrinsic value in our pipeline.’
In June, Taylor Wimpey purchased a 16 acre plot in Shropshire from Harworth for £19.6 million, on which it plans on building 200 homes.
Harworth said it will reinvest proceeds from Friday’s sale to further its Industrial & Logistics development programme.
Taylor Wimpey shares were down 0.1% to 156.10 pence each in London on Friday morning. Harworth shares were up 2.2% to 176.72p.
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