UK Coal partners with Taylor for major residential development
The property arm of the UK’s largest coal mining arm has agreed a deal with Taylor Wimpey which could see up to 4,000 homes built across England and Scotland over the next ten years.
Harworth Estates, the property division of UK Coal, and Taylor Wimpey have entered into a land sale and partnership agreement.
Under the deal Taylor Wimpey will buy a portfolio of 764 acres of land spread across the Midlands, Yorkshire, the North East and Scotland.
The sites, which include restored colliery land, will be developed in partnership with Harworth.
Owen Michaelson, managing director of Harworth Estates, said: “Over 15 bids were received for the portfolio and this deal demonstrates that Harworth Estates is delivering on its own business strategy.
“The sale has been agreed amidst strong market interest in our property portfolio, some of which is currently being marketed as part of an ongoing strategy to release value.”