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Our work - 26/04/2012

Strategic advice across business park portfolio: Harworth Estates

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We are currently advising Harworth Estates on their estate across the country, driving capital receipts, revenue, asset and book values across the portfolio. 

The portfolio comprises major business parks and almost 290 acres of undeveloped land, of which we have already sold, let or negotiated over 68 acres. We have also advised on over 250,000 sq ft of development – with over 4m sq ft still available, bringing in £1.64m in rental and £5.25m in capital receipts on behalf of Harworth Estates

Advanced Manufacturing Park - part of Sheffield City Region Enterprise Zone

The Advanced Manufacturing Park (AMP) site originally formed part of a joint venture with Yorkshire Forward and UK Strategic Partnership. It is included within the Sheffield City Region Enterprise Zone and has a further 84 acres of land available. Enterprise Zones are a strategic tool from the Government to help drive growth and support a manufacturing led recovery across the UK and the site benefits from Business Rates Relief and Enhanced Capital Allowances due to its EZ status.

Once the EZ status was agreed, we were able to look to attract a key anchor tenant to the scheme with the benefits EZ brings. We looked for someone who, with their supply chain and advanced manufacturing operations, would bring ancillary occupiers to the site.

32 acres of land sold to Rolls Royce in sale worth up to 11m

By advising Harworth Estates to adopt a new marketing strategy and a fast track approach to occupier vetting, based on a clearer vision statement, we succeeded in getting one of the leading manufacturers in the world onboard, selling 32 acres of land to Rolls Royce. The deal will have a significant impact on the economy of the wider Yorkshire region with the creation of up to 1000 jobs, and is one of the largest to take place in the last ten years. 

Owen Michaelson, Managing Director of Harworth Estates, said: “We are delighted to have Rolls Royce as our new principle occupier on the AMP site. It underpins the support and trust we have had from Rotherham Council, Sheffield Council and Yorkshire Forward. LSH has been a pleasure to work with across our portfolio. They demonstrated determination, patience and perseverance to turn this initial enquiry into a reality.”

Increased inward investment

Guy Gilfillan, our National Account Manager for Harworth Estates, added: The deal has already attracted further inward investment. We are in negotiations with several Rolls Royce supply chain partners, cementing the AMP’s position as an economic hotspot. Once full, the site will accommodate in excess of 1m sq ft of development.” 

World class business and manufacturing centre

The AMP site is now home to many technology companies including AMRC, a Boeing / University of Sheffield partnership; Rolls Royce; Castings Technology International (Cti); Dormer Tools and TWI’s Yorkshire Technology Centre.


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