Harworth Group plc ( Harworth or the Group ), a leading regenerator of land and property for development and investment, announces that it has sold the 283-acre Bilsthorpe Business Park ( Bilsthorpe ) in Nottinghamshire for a total consideration of £4.6 million in two separate transactions. These disposals continue Harworth s strategy of recycling capital from the sale of more mature assets into the acquisition of higher yielding properties with asset management and development potential.
The first sale comprised the sale of a 10 acre site, including a Highways Depot let to Nottingham City Council on a long lease, to Waypoint for £2.05m, reflecting a Net Initial Yield of c. 3.0%.