Regeneration specialist Harworth Group has sold two residential land parcels at its Waverley and Thoresby Vale developments to Barratt and David Wilson Homes for £39 mln (€46 mln).
At Waverley in South Yorkshire, Harworth has competed a £29 mln land sale which will see the delivery of approximately 450 homes, of which over 30% will be affordable.
This represents Harworth’s largest-ever serviced residential land sale by number of plots.
The new homes will represent Barratt and David Wilson Homes’ fifth phase at the site and will be situated adjacent to both Highwall Park and the Waverley Lake, benefitting from unique water frontage in an area of the development known as Waverley Waterfront.
Design and construction will be devised in partnership between Harworth and Barratt and David Wilson Homes, to complement the existing Waverley development while maximising the amenity value of the area’s waterfront location.
At Thoresby Vale in Nottinghamshire, Harworth has exchanged on the sale of serviced land capable of delivering 174 homes, for £10 mln.
This represents the second phase of the Thoresby Vale development, following the sale of two land parcels at the site to Harron Homes and Barratt and David Wilson Homes in 2019 and 2020 respectively.
Alongside the new homes, Barratt and David Wilson Homes will provide a new surface water attenuation pond and a multi-use path and associated landscaping, which will enhance connectivity and link to the site’s planned primary school and local centre, for which site preparation works are currently underway.
The sales conclude an active first half for Harworth’s residential developments, during which over 100% of its budgeted residential land sales for the year were completed, exchanged or under offer, and it also launched its first single family Build to Rent portfolio.
Andrew Blackshaw, chief operating officer at Harworth, commented: 'Barratt and David Wilson Homes is a trusted and valued partner to Harworth, and we are pleased to be developing our relationship with these two significant land sales.
'Harworth is particularly well-placed in volatile markets as our serviced land provides housebuilders with a product which is de-risked and ready to build on from day one.
'The acceleration of both our Waverley and Thoresby Vale sites will see Harworth stepping through its strategy to take advantage of the placemaking and levelling up that these schemes ultimately bring to these communities.
'In addition, these sales will enhance the maturation of these socially diverse neighbourhoods when delivered alongside our recently launched single family Build to Rent product, Project Spur.'