Freeths advises Harworth Group on £8.1 million disposal of Etherow Industrial Estate

Leading law firm Freeths has advised London Stock Exchange-listed land and property regeneration company Harworth Group on the sale of Etherow Industrial Estate in Glossop, Derbyshire, for £8.1 million, achieving a 3% premium to book value.

Harworth is one of the UK's leading land and property regeneration businesses, owning and managing around 15,000 acres across approximately 100 sites in the north of England and the midlands. Through its regeneration activities, the group creates sustainable places where people want to live and work, delivering new homes, jobs and investment across the regions.

The purchaser acquired the long leasehold interest in Etherow Industrial Estate, a 148,000 sq ft multi-let industrial and office scheme extending across 10 acres. Occupiers at the site include Howdens, Tom Howley, Apex Self Storage and Wray Mechanical.

This disposal marks another important step in Harworth's strategy to transition its investment portfolio towards 100% Grade A industrial and logistics assets. Following a successful period of ownership and active asset management, the sale will enable the business to recycle capital into higher-returning opportunities across its core growth sectors.

Leading the Freeths on this transaction was Real Estate Partner Andy Nichol, supported by Real Estate Director Anna Hayes.

Commenting on the deal, Andy Nichol said: “This transaction showcases the breadth of expertise we bring to complex investment and industrial real estate transactions. Having supported Harworth throughout the disposal process, we have seen first-hand the value created through its proactive asset management strategy. We were delighted to work alongside the Harworth team on this deal and look forward to supporting the business as it continues to evolve and grow its portfolio.”

Greg Moorhouse, Director of Investment Portfolio at Harworth, added: “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. It was great to work alongside Freeths and CBRE on this transaction. Their consistent hard work and professional expertise proved invaluable in enabling a positive outcome for all parties.”