Harworth Group sells €81m logistics portfolio
Harworth Group has sold seven multi-let industrial estates across the Northwest, Yorkshire and East Midlands for a total of €81.2 million ($88.8 million).
The portfolio consists of Melton Commercial Park, Towngate Business Centre, Alpha, Selby Energy Park, Sinfin Commercial Park, Four Oaks Business Park and Moorland Gate Business Park
Savills advised Harworth on the sales, which are part of the group’s key strategic objective of transitioning its investment portfolio to 100 percent modern class A by 2027. The company plans to do this largely by retaining the assets it develops while disposing of those where value has been maximized through the completion of asset-management initiatives during ownership. The sale proceeds also will be used by Harworth to pursue other elements of its growth strategy, including its objective of increasing the direct development of industrial and logistics space.
“As we retain more of these high-specification units, we have s