Hargreaves Services sells Scottish land asset for PS6.8 million
Hargreaves Services PLC on Friday said it has sold the second tranche of its renewable energy land portfolio to real estate investment firm Meadow Partners LLP for £6.8 million.
The Durham, England-based industrial services company said it has sold freehold land leased to a battery energy storage system in South Lanarkshire, Scotland, which generates a rental income of £500,000 per year.
The long stop date for completion of the sale is the end of April 2026.
The land formed part of the renewable energy land asset portfolio which was independently valued at a minimum of £27.0 million in July 2025, of which this asset represented £6.4 million of the total.
The £6.8 million cash consideration from the sale represents a 6% uplift on the independent valuation, Hargreaves Services noted.
It said the board expects the disposal to result in a one-off net benefit to pretax profit and cash in financial 2026 of £5.3 million and £6.0 million respectively.
‘The sale further demonstrates the ability of the group to realise material value from existing assets,’ said Chair Roger McDowell.
‘This gives us greater flexibility to invest in opportunities that either support sustainable long term value creation or alternatively to return cash to shareholders.’
Shares in Hargreaves Services were up 0.8% at 776.00 pence on Friday morning in London.
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