Harworth launches Project Spur single-family BTR portfolio

Harworth Group plc announces the launch of Project Spur, its single-family Build to Rent portfolio which will deliver around 1,200 new homes.

Project Spur single-family Built to Rent homes which have been launched by Harworth Group plc | BTR News
Project Spur single-family Built to Rent homes.

Leading regenerator of land and property for sustainable development and investment – Harworth Group plc – announces the launch of Project Spur, a single-family Built to Rent portfolio. The news follows the company’s announcement in September 2021 of plans to develop a single family Build to Rent product as part of its strategy to grow its business to £1bn of EPRA NDV1 over five to seven years.  

Project Spur will deliver around 1,200 new single-family homes across ten of Harworth’s development sites, which have been optimised for this product. The company will focus on two- and three-bedroom homes, all built to a high-quality design which is centred on sustainability. Project Spur is being marketed by Allsop, and the new homes will complement 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. 

“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.”

Lynda Shillaw, Chief Executive, Harworth

Project Spur will be an opportunity to acquire a single-family housing portfolio of significant scale across ten established sites in Yorkshire, the Midlands and the North West. The sites are in strong locations – in close proximity to major conurbations and employment centres, local amenities and transport connections.

The sites have also benefited from Harworth’s investment, as well as its masterplanning and placemaking expertise, which have delivered extensive green space, recreational facilities and a well-deigned public realm. The introduction of the single-family Build to Rent product is expected to further add to the vibrancy and attractiveness of these communities. 

Harworth is publishing marketing materials for the scheme, which represents a unique forward funding and long-term investment opportunity for a prospective partner. The project has an anticipated delivery timeline of three years, with phased handovers of the sites over this period. The company confirms that there will be the potential, subject to further agreement, for a partner to work with Harworth to introduce the single family Build to Rent product to additional sites as part of future phases of development.  

“Project Spur is a rare opportunity to partner with one of the UK’s leading land and property regeneration specialists. Located in suburban communities across Yorkshire, the Midlands and the North West, these units provide a diverse and defensible portfolio of properties that benefit from close proximity and strong transport links to nearby employment and amenity centres.”

James Crow, Head of Mixed Tenure, Harworth