Harworth Group PLC
LSE:HWG
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Harworth Group PLC
LSE:HWG
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Harworth Group PLC
Harworth Group Plc engages in property development and investment. The company is headquartered in Rotherham, South Yorkshire and currently employs 85 full-time employees. The firm specializes in the regeneration of large, complex sites, in particular former industrial sites, into new residential, and industrial and logistics developments. The firm operates through two segments: Capital Growth and Income Generation. The Income Generation segment focuses on generating rental returns from the agricultural land, natural resources, the investment portfolio, and income generating streams from major developments and strategic land. The Capital Growth segment focuses on delivering value by developing the underlying investment and development property portfolios, and includes planning and development activity, value engineering, proactive asset management and strategic land acquisitions.
Harworth Group Plc engages in property development and investment. The company is headquartered in Rotherham, South Yorkshire and currently employs 85 full-time employees. The firm specializes in the regeneration of large, complex sites, in particular former industrial sites, into new residential, and industrial and logistics developments. The firm operates through two segments: Capital Growth and Income Generation. The Income Generation segment focuses on generating rental returns from the agricultural land, natural resources, the investment portfolio, and income generating streams from major developments and strategic land. The Capital Growth segment focuses on delivering value by developing the underlying investment and development property portfolios, and includes planning and development activity, value engineering, proactive asset management and strategic land acquisitions.
Portfolio Growth: Harworth’s portfolio reached £944 million at June 30, up 53% since 2020, with strong progress on strategic objectives despite a challenging market.
Industrial & Logistics: The Industrial & Logistics segment drove an 8% property return and remains the main value growth driver, supported by significant development and investment.
Residential: Residential assets were stable, with strong demand and on track to exceed the 2,000 plot sales target for the year, though some cost increases impacted valuations.
EPRA NDV: EPRA Net Disposal Value rose 0.8% to £725 million in H1 2025, continuing steady growth toward the £1 billion target for 2027.
Capital & Debt: Net debt increased to £179.4 million, with loan-to-value at 19%, but management expects this to drop to 10–15% by year-end due to anticipated sales.
Grade A Transition: Harworth is on track to reach 100% Grade A portfolio by 2027, with 66% by value already Grade A at half year and pro forma 71% when post-period sales are included.
Strategic Partnerships: Expansion of capital-light joint ventures, such as with the Church Commissioners, is expected to support growth and capital efficiency.
