By Elena Vardon
Harworth Group on Tuesday said it has made significant progress in the year to date against the growth drivers of its net asset value strategy.
The land and property regeneration company plans to hit 1 billion pounds ($1.24 billion) of European Public Real Estate Association net disposal value–a key industry metric–by 2027.
It said its net debt was GBP43.2 million at April 30, representing a pro-forma loan-to-value of 6% based on end 2022 valuations and adjusting for subsequent completed sales.
“Harworth has had strong strategic and operational momentum so far in 2023, against a backdrop of robust demand for serviced and therefore de-risked residential land as well as industrial & logistics assets,” Chief Executive Lynda Shillaw said.
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