Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Harworth completes STOR facility acquisition

Harworth completes STOR facility acquisition

Fri, 25 Sep 2020 | COMMERCIAL PROPERTY



Property development and investment firm Harworth Group has acquired a Short-Term Operating Reserve (STOR) facility in Newport, South Wales for £495,000 plus acquisition costs. The facility, which provides additional power for the National Grids during peaks in demand, is situated on a 0.5-acre site in a commercial area to the south of Newport town centre.

Separately, Harworth Group has also completed the sale of 49-acres of non-core land in Oxcroft, Derbyshire for £444,000. This sale will provide the group with extra financial capacity to pursue more strategic land or property acquisitions in future.

The STOR facility in Newport is already let to UK Capacity Reserve Ltd (Sembcorp Energy UK Ltd), on a lease which expires in 2041, with rent equivalent to net initial yield of 8.45 per cent. Harworth is the landlord to several third-party STOR facilities across the North of England and Midlands. The Newport acquisition follows the June purchase of another UK Capacity Reserve Ltd facility in Gloucester.

Harworth Group Senior Asset Manager Matthew Smith said: "STOR assets maintain a stability of service from the grid for residents and businesses alike and have proven their value during this pandemic period.”

"We are keen to add to our portfolio of STOR assets following the acquisition of two facilities earlier this year. These assets bring societal benefit whilst also delivering a long-term recurring income streams to the business."

The group was advised by Alder King on the deal. Alder King Partner Simon Smith said: "Harworth has once again proven their ability to swiftly and efficiently purchase assets within this specialist property class. We look forward to supporting their Income Generation team as they look to further expand their portfolio."

In its latest accounts, to the year ending December 31 2019, Harworth Group reported revenue of £85.5 million, with gross profit of £27.9 million and post-tax profits of £25.5 million. According to these reports, Harworth made 11 strategic land acquisitions last year, along with 4 income acquisitions.


One of the best ways to find properties below market price is to look at recent administrations.


Share this article



Latest Businesses for Sale

Paving & Drainage Contractor
Merseyside, North West, UK

Well established and lucrative Paving and Drainage Contractor. Leasehold/Freehold option available. Convenient and accessible trading position, loyal customer base. Predicted increased turnover £900k (y/e 30.04.20), consistently strong profits, impre...

Asking Price: £675,000
Turnover: £781,539

LEASEHOLD


Independent Building Contractor
UK Wide, Scotland

The Company is a highly regarded building contractor, predominantly providing its services to clients in the commercial and retail sectors. The Company has experienced considerable growth since its foundation, with the strength of its workforce and s...

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD


Manufacturer & Installer of Bespoke Retail Interiors
East Midlands, UK

The company specialises in the design, manufacture and installation of bespoke retail interiors. Operates on an international basis. Currently works with over 60 active clients, 95% of whom provide reliable, repeat business.

Asking Price: Offers Invited
Turnover: £6,000,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Jan
 

Injection moulding business sold out of administration to employees | BUSINESS SALE

Conwy-based injection moulding company A2B Plastics Limited ...

 
18
 
Jan
 

AFH Financial Group ready to return to acquisition trail in 2021 | BUSINESS NEWS

In its yearly report to October 2020, wealth manager and adv...

 
15
 
Jan
 

Buyer sought for portfolio of pubs | BUSINESS SALE

Five pubs that formerly operated under the Authentic Alehous...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Daily Financial Alerts
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.