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Harworth Group PLC - Rotherham, South Yorkshire-based regenerator of land for sustainable development with 14,000 acres of land on about 100 sites throughout North of England and Midlands - Completes acquisition of Catalyst, a 285,000 square foot urban logistics estate in Rotherham. Harworth pays £43.7 million, which reflects an net initial yield of 5.4%. The logistics estate was completed last year and is 90% let with the agreements having a weighted average of 6.6 years to break and 10 years to expiry. Once fully let, the estate will generate £2.5 million in annualised rent. Chief Executive Lynda Shillaw notes Catalyst is the largest Industrial & Logistics asset investment in Harworth’s history. Current stock price: 179.50 pence, down 1.4% in London on Tuesday 12-month change: up 73% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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