The chief executive at Yorkshire land and property regenerator Harworth Group has hailed the group’s progress in challenging conditions last year - but warned of tough times ahead.
The Rotherham group has posted a trading update for 2022, ahead of announcing full year results, in which it said demand had remained resilient throughout the year, with strong take-up in its investment portfolio and the completion of housebuilder land sales on attractive terms. However it said its EPRA NDV (Net Disposal Value) had been been impacted by market movements and would fall towards the lower end of current market expectations.
During the year the firm completed its 332,000 sq ft development at Bardon Hill in Leicestershire, with 57% of space currently let and active discussions on remainder. Following the year end, it completed 110,000 sq ft at Gateway 36 in Barnsley, with more than a third already let and significant interest in remaining units. It also agreed terms for a 73,000 sq ft unit at the Advanced Manufacturing Park in Rotherham, to be retained in its investment portfolio after completion.
