Business
Harworth grows land pipeline with Thoresby consent
Harworth grows land pipeline with Thoresby consent.
About this update from Harworth Group Plc
[{"type":"text","content":"\n \nRNS Number : 2530U Harworth Group PLC 23 October 2017 \n\n \n23 October 2017\n \nHarworth Group plc (\"Harworth\" or the \"Company\")\n \nHarworth grows land pipeline with planning approval at Thoresby, Nottinghamshire\n \n-Consent achieved for 800 homes adjacent to historic Sherwood Forest-\n \nHarworth Group plc, the brownfield regeneration and property investment specialist, announces that it has secured a resolution to grant planning permission for a major mixed-use redevelopment of the former Thoresby Colliery in Nottinghamshire, adding to the Group's portfolio of transformational schemes.\n \nThe 450-acre site, adjacent to the historic Sherwood Forest, will provide up to 800 new homes and 250,000 sq. ft of employment space, through the consent granted by Newark & Sherwood District Council. The first phase of residential land, for approximately 150 homes, is expected to be ready for sale to housebuilders as serviced plots towards the end of 2018. It is anticipated that it will take around ten years to fully develop and the site is expected to contribute towards Harworth's continued delivery of growing its Net Asset Value by at least 10% per annum throughout the property cycle.\n \nHarworth acquired the site in October 2015, following the closure of the colliery - the Midlands' final deep mine - in July 2015. The Company has spent the last two years undertaking site safety and security works, including demolishing redundant industrial structures, whilst masterplanning the site for future uses. The scheme builds on Harworth's track record in transforming sites with former uses into thriving environments to live and work.\n \nThe current masterplan provides for new housing, a retirement village, a primary school, a 25-acre business park, leisure facilities, and a 300-acre country park and is expected to help create up to 500 jobs. The site benefits from its position next to the A614/A1, connecting Doncaster and Nottingham.\n \nThis is the second significant planning consent the Company has achieved this month. At the beginning of October, it achieved consent for a major new commercial development at the site of the former Alcan Rio Tinto Smelter in Northumberland. This 175 acre site will provide up to 1.3m sq. ft of manufacturing, distribution a...