New portfolio is optimised for the single-family market
Harworth Group, a regenerator of land and property for sustainable development and investment, has announced the launch of Project Spur, a single-family built-to-rent (BTR) portfolio of around 1,200 homes across 10 of its development sites.
The new product will be complementary to Harworth’s existing build-to-sell products developed by housebuilders at its residential sites, and will support the company’s ambition to double its residential plot sales to around 2,000 plots per annum over its strategic plan period.
Project Spur will be an opportunity to acquire a single-family housing portfolio of significant scale across 10 established sites in Yorkshire, the Midlands and the North West.
The housing type composition for the portfolio has been optimised for the single family BTR market, with a focus on two- and three-bedroom homes, all built to a high-quality design which is centred on sustainability.
The project has an anticipated delivery timeline of three years, with phased handovers of the sites during this time. There will be the potential, subject to further agreement, for the partner to work with Harworth to introduce the single family BTR product to additional sites as part of future phases of development.
Lynda Shillaw, chief executive at Harworth, said that Harworth’s extensive portfolio is particularly well suited to delivering institutional quality single family rental homes at scale.
“Project Spur is part of our strategy to accelerate the development of our residential sites, providing a range of homes for local people and enabling diverse communities. We look forward to working with partners aligned to our purpose and ambitions, to continue delivering places where people want to live and work,” she added.