Harworth has sold two business parks in the North West for £35.8m.
The sale of Towngate Business Park in Widnes for £11.2m and Four Oaks Business Park in Walton Summit, Preston, for £12.3m reflect a blended net initial yield of 4.7%.
Harworth has sold £48.4m from its investment portfolio so far this year, with prices inline with December’s valuations.
Chief executive Lynda Shillaw said: “Last year Harworth directly developed a record amount of sustainable grade-A industrial and logistics space, as we progressed our growth strategy to become a £1bn business by 2027. As we retain more of these high-specification units, we have sought to recycle capital from the disposal of older assets where we have maximised value creation through asset management and development works, and our sales at Widnes and Preston demonstrate this pillar of our strategy in action. These transactions also demonstrate continued demand for high-quality industrial and logistics assets from investors.”
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