The £19.55 million sale price reflects a premium to the 31 December 2023 book value and highlights the value Harworth creates through its role as a master developer, with this site being a leading example of Harworth’s ability to deliver next-generation large-scale developments. Proceeds from the residential land sale provide the Group with funds to bring forward regionally significant projects as well as accelerate its industrial and logistics direct development programme.
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Harworth secured planning for the regeneration of the former Ironbridge Power Station in September 2021, having acquired the 350-acre site in June 2018. In addition to over 1,000 new homes, plans for the development include a retirement village, up to 200,000 sq. ft of employment space and a local centre offering convenience retail and other services. Community amenities will include a new primary school, allotments and sports pitches, while the former power station’s 1930s pumphouse will be retained as part of the proposals and transformed into a flexible space for community and leisure uses.
The scheme is expected to be delivered by 2030.
