Harworth offloads secondary Derbyshire asset
Pursuing the medium-term goal of making its whole investment portfolio modern and ESG-led, the Yorkshire-based property group has completed the sale of the 148,000 sq ft Etherow Industrial Estate in Glossop for £8.1m.
Harworth, currently subject of an £583m takeover bid by Peel, said the deal represents a 3% premium to the asset’s book value. The buyer has not been disclosed.
Etherow Industrial Estate was acquired on long leasehold by Harworth in 2019 and comprises 148,000 sq ft of multi-let warehouse and office space across 10 acres. Occupiers include Howdens, Tom Howley, Apex Self Storage and Wray Mechanical.
Since its purchase, Harworth has carried out an asset management programme including the acquisition of the freehold, demolition of an office building to increase open storage availability, a refurbishment and lease renewal for the Apex Self Storage unit and lease re-gears for all other occupiers.
The site was part of Harworth’s £305m investment portfolio of industrial & logistics units that together generated a recurring rental income of £18.3m as at 31 December 2025.
The sale plays into the group’s oft-stated strategy of transitioning its core portfolio to 100% grade A, by retaining high-specification units and disposing of secondary stock and older grade A buildings where asset management plans have been delivered.
As of 31 December 2025, 76& of the core investment portfolio was grade A, up from 63% a year earlier and 20% in 2020.
In recent weeks, Harworth has confirmed the completion of two pre-lets at Gateway 36, Barnsley and Chatterley Park, Staffordshire, which will add 139,300 sq ft of high-spec kit to the portfolio. A third pre-let, for a 180,000 sq ft unit at the Advanced Manufacturing Park, is currently in legals.
Jonathan Haigh, chief investment officer at Harworth, said: “The disposal of Etherow Industrial Estate at a premium to book value demonstrates strong levels of demand in our regional markets and is a further important step towards transitioning our investment portfolio to 100% grade A.
“The proceeds of the sale will be recycled into higher returning opportunities aligned to powered land and industrial growth sectors.”
