Thursday, 27 November 2014
Harworth Estates acquires major development site in Leeds (UK)
Harworth Estates, the UK property regeneration company, has acquired the site of the former Skelton Grange power station near Leeds from RWE Generation. The 162-acre site, which provided power to the city until 1995, offers the potential for development for distribution, open storage and energy generation uses. It already has outline planning consent for a range of commercial uses, including a 26MW, 300,000 tons waste-to-energy facility.
The site is strategically located adjacent to the Leeds City Region enterprise zone south east of the city, bounded by the M1 and M621 motorways. It will be branded as ‘Logistics Leeds’; this follows the example of ‘Logistics North’ in Bolton, adjacent to Junction 4 of the M61, where Harworth is developing 4 million ft² of distribution space over 250 acres.
The acquisition of the site is Harworth’s first major non-coalfield acquisition and adds to its large portfolio of UK regeneration sites. The company owns and manages more than 200 sites across the North and Midlands, totaling more than 30,000 acres.
Owen Michaelson, Chief Executive of Harworth Estates said: “Skelton Grange fits very well with the rest of our property portfolio, given the number of commercial developments we are already bringing forward across Yorkshire. As we take the site forward to the occupier market we will be emphasizing its range of assets and benefits, including its strategic location and high power connectivity.
“Our specialist team has significant experience developing large-scale brownfield sites and transforming them into places of lasting economic and social regeneration. We believe this is a key development site for the Leeds City Region and we look forward to bringing it to fruition.”
Steve Boughton, Head of Business Development at RWE Generation UK Plc said: “We are delighted to have agreed the land sale to Harworth Estates, who are acknowledged experts in regenerating brownfield sites, creating high quality developments with corresponding employment opportunities. They have been a pleasure to do business with and I wish them success in bringing the scheme to market.”
Mike Baugh of CBRE, who acted on behalf of RWE Generation UK Plc, said: “This sale represents one of the most significant site disposals in the Leeds area for many years. CBRE worked closely with RWE to ensure a smooth marketing campaign and successful completion of this transaction and we believe it represents an exciting prospect for Harworth Estates to bring forward what is a unique opportunity for the area.”