Harworth Group has entered advanced negotiations with hyperscale data centre operators over the sale of a plot of powered land ready for development.
Harworth’s Gateway 36, Barnsley
Harworth said the unidentified site, which has planning consent and power connections, could provide total value gains ahead of its first hyperscale data centre deal – the sale of a Leeds site to Microsoft for £106.6m in June 2024.
Harworth has a 0.8GW power-enabled land bank the value of which is not reflected in the group’s current net development value, Harworth said in a trading update ahead of its half-year results.
Lynda Shillaw, Harworth CEO
Harworth chief executive Lynda Shillaw added: “Our second data centre opportunity we are highlighting today [5 August underlines Harworth’s position as one of the most significant regional players in the rollout of the UK’s digital infrastructure, working with some of the largest operators in the industry.
“We are well positioned to accelerate our reallocation of capital to powered land and industrial growth sectors. This in turn will create a simpler, higher-returning platform to deliver sustainable future growth.”
Harworth previously announced plans to increase the industrial and logistics (I&L) weighting of its portfolio to 85% and reduce its residential exposure by 2029. The group said it had upped the I&L weighting to 70% by the end of 2025.
The group also announced an agreement with an unnamed logistics operator to develop a 30,700 sq ft facility at Gateway 36, Barnsley, and lease it to the occupier on a 20-year term.
Jonathan Haigh, chief investment officer at Harworth, said: “Gateway 36 has established itself as a major hub for distribution and logistics in Yorkshire, with a wide range of occupiers on site. This latest transaction, which will see us develop and let a unit to a key logistics operator, is a strong endorsement of the site’s excellent transport connectivity, with direct access to Junction 36 of the M1 motorway.”
Please visit:
Our Sponsor