Harworth sees increase in occupier sales and lettings pipeline
Harworth Group PLC on Monday said it has seen an increase in its pipeline of occupier sales and lettings, though softness in the residential market has persisted.
Ahead of Monday’s annual general meeting, the Rotherham, South Yorkshire-based regenerator of land for sustainable development said its Industrial & Logistics property and land portfolio is ‘well positioned’ to realise long-term value with demand ‘holding up’.
The firm said it has a record 4.0 million square feet of development-ready land for ‘near-term delivery’, and said it is progressing 1.8 million square feet of letting and land sale negotiations, up from 1.6 million at year-end.
Chief Executive Lynda Shillaw said: ‘We continue to see an increase in our pipeline of occupier sales and lettings, albeit the softness in the residential market and the protracted transaction timelines in I&L that we saw in 2025 have persisted, owing to both geopolitical and UK fiscal and political pressures.
‘We are starting to see some supply-chain cost inflation as a result of the war in the Middle East - largely from higher fuel costs affecting civils and material production, and we are focused on managing any impact and progressing our 35 million sq ft pipeline to drive long term value.’
Harworth said it is progressing residential land sales despite market conditions ‘remaining challenging’. It has completed on 155 residential plots, with around 900 further plots conditionally exchanged or in legals.
The company said it has completed, conditional exchange and is in legals on 63% of its 2026 sales pipeline, with sales completion being back-ended in the year.
CEO Shillaw added: ‘We remain alert to the impact of inflationary pressures on performance, however, our low leverage and significant optionality over the timing of development and disposals give the board confidence in Harworth’s ability to navigate short?term uncertainty and deliver on our roadmap.’
Separately, Harworth said it has appointed Tony Quinlan as an independent non-executive director, effective on June 1.
Quinlan is currently chair of solar energy and energy storage investment company NextEnergy Solar Fund Ltd, and is a senior independent director on the boards of Costain Group PLC and Hill & Smith PLC.
Shares in Harworth were up 0.4% at 128.70 pence on Monday morning in London.
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