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Harworth Group PLC on Thursday pushed back a valuation goal by up to two years, amid ‘ongoing macroeconomic weakness and investor uncertainty’. The Rotherham, South Yorkshire-based regenerator of land for sustainable development was sizing up an EPRA net disposal value of £1 billion by the end of 2027, but now thinks a tough market backdrop makes it ‘increasingly challenging’ to achieve this by then. ‘Against this backdrop, the timeline for achieving our milestone extends beyond December 2027, with a range between the end of 2028 and end of 2029,’ the firm said. ‘Looking ahead operationally, momentum strengthened post the UK budget, with deal volumes starting to pick up. The depth of existing interest in our sites, including the potential for high value transactions, gives the Board confidence in Harworth’s potential to deliver attractive shareholder returns.’ Harworth said its Industrial & Logistics portfolio continued to outperform in 2025, with new lettings secured across 267,000 square feet and growing headline rent by £2.5 million. It also noted headline sales from the portfolio of £58.2 million. ‘The business delivered sustained operational progress in 2025. Our management actions have culminated in attractive levels of total property return across our I&L land portfolio, reinforcing our strategy to pivot the I&L portfolio weighting to 85%,’ Chief Executive Lynda Shillaw said. The residential land segment is suffering from ‘well-reported challenges’, meanwhile. At the division, headline sales of £52.0 million were completed last year, at a discount to the June book value, ‘reflecting prevailing market pressures’. It noted 1,837 total plot sales were completed, with an added 155 set to be sealed ‘imminently’. Shillaw added: ‘The well-reported challenges across the residential market persist, with a lack of demand side stimulus and ongoing cost and regulatory pressures. Despite this, we delivered sales volumes in-line with target levels, albeit transactions completed on terms reflecting these market headwinds. ‘As a result, and notwithstanding the robust I&L portfolio performance, group level value gains will be tempered by residential market weakness, resulting in FY-2025 EPRA NDV expected to be flat to marginally up versus the half-year.’ The EPRA NDV at June 30 totalled £725.0 million, or 223.7 pence per share. At the end of 2024, it stood at £719.5 million, 222.3p per share. Shares in the company were flat at 165.00p each in London on Thursday morning. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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