London property prices: The good news and the bad news

Harworth’s growth cements strong property market

Land company Harworth Group has purchased two strategic land sites in the Midlands in a bid to accelerate the expansion of its strategic land bank.

Both sites have been purchased using part of the £27.1 million raised from the company’s equity placing in March, and are projected to deliver returns above Harworth’s double-digit target rate of return. The sites also sit adjacent to existing Harworth landholdings, thus generating additional value when combined.

“Growing and expanding our strategic landbank is fundamental to delivering continued value to our shareholders and both purchases provide clear long-term value adding opportunities,” commented CEO Owen Michaelson. “The outlook in the Midlands market remains healthy, driven by comparatively low prices, a lack of housing land supply and the scarcity of good quality new commercial units. Good progress has also been made in securing other land and property targets identified in March’s equity placing. We, therefore, expect that all of the funds raised in March will be committed by the year end.”

The move cements the fact that the development market for both residential and commercial buildings is holding up in the region.

During the first half of 2017 Harworth, which owns and manages more than 22,000 acres of land across 140 sites, sold 358 residential plots and 564,000 sq ft of commercial space.

It has continued to buy sites in the north of England and the Midlands in order to expand its pipeline and has ambitions to expand into other regions of the UK.

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

STAY AHEAD OF THE MARKET

Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment

FIRST FOR NEWS AND KNOWLEDGE.

Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:

 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

 

+852 6699 9008

Open from 9am-6pm HKT