Droitwich deal boosts Harworth income

Completion of a 170,000 sq ft letting to logistics provider Uniserve is the highlight of a trio of industrial deals that will see £2.5m added to the property group’s coffers annually.

Harworth, the Yorkshire-headquartered regeneration and strategic landowner and developer, has secured 267,000 sq ft of industrial & logistics lettings on previously vacant space across its investment portfolio since July.

These deals equate to a reduction in the firm’s industrial portfolio to 1%, from 4.9% in the first half of this year, and deliver an additional £2.5m in annualised rental income, equating to £9.28 per sq ft – advancing the portfolio’s grade A headline rent by around £1 per sq ft on H1 2025.

Close to Junction 5 of the M5, the 169,410 sq ft development was completed this summer at Berry Hill Industrial Estate, an established I&L location. Amazon, Antolin and Muller are among local occupiers.

Lynda Shillaw, chief executive of Harworth, said: “Our asset management team has secured several significant lettings, most notably at Droitwich, our largest single-unit speculative development, which only reached practical completion in August.

“Our network and market intelligence has enabled us to successfully capitalise on the strong demand for grade A space in our regions, bringing the portfolio to near full occupancy, setting new headline rents and demonstrating the portfolio’s reversionary potential.

“Our strategy of growing our I&L Investment Portfolio by building out our consented pipeline of 8.7m sq ft is bearing fruit. Achieving 100% occupancy at Droitwich, the Advanced Manufacturing Park, Catalyst and Gateway 36 is a strong endorsement of this strategy, the quality of our product, and location of our sites as we optimise delivery opportunities across our consented land bank.”