One of the leading names in property land and regeneration has announced what it calls Project Spur - a massive launch of 1,200 Build To Rent homes across 10 sites.
Harworth Group has just published marketing materials for the project, which represents what it describes as “a unique forward funding and long-term investment opportunity for a prospective partner.”
Harworth first announced plans to develop a single family BTR product in September 2021, as part of its strategy to grow its business over the next five to seven years.
This new product will be complementary to Harworth’s existing Build to Sell products developed by housebuilders at its residential sites and will support the firm’s ambition to double its residential plot sales to around 2,000 plots per annum over its strategic plan period.
A statement from the company says: “Project Spur will be an opportunity to acquire a single family housing portfolio of significant scale across 10 established sites in Yorkshire, the Midlands and the North West.
“The sites are in strong locations which are in close proximity to major conurbations and employment centres, as well as local amenities and transport connections.
“The sites have also benefited from Harworth’s investment, as well as its masterplanning and placemaking expertise, which have delivered extensive green space, recreational facilities and a well-deigned public realm. The introduction of the BTR product is expected to further add to the vibrancy and attractiveness of these communities.”
The focus will be on two- and three-bedroom homes with an anticipated delivery timeline of three years, with phased handovers of the sites during this time.
“Harworth’s extensive portfolio is particularly well suited to delivering institutional quality single family rental homes at scale. Project Spur is part of our strategy to accelerate the development of our residential sites, providing a range of homes for local people and enabling diverse communities. We look forward to working with partners aligned to our purpose and ambitions, to continue delivering places where people want to live and work”explains company chief executive Lynda Shillaw.