Harworth purchases Sinfin Lane site for 6.95m pounds

16th Sep 2015 14:54

(ShareCast News) - UK property regeneration company Harworth Group has acquired Sinfin Lane Industrial Park in Derby for 6.95m pounds.The 471,508 square foot industrial park is Harworth's third acquisition over the past nine months and will produce a net initial yield of nine percent.It follows the purchases of the 162-acre former Skelton Grange power station in Leeds and the 320-acre former aluminium smelter in Lynemouth, Northumberland.Harworth Group chief executive Owen Michaelson says it's a well located investment."This continues the process of improving the recurring income base of our business and will create a highly-liquid, income-producing asset with a number of active asset management opportunities."