- Hargreaves Services
- 06 March 2026 10:16:32
Source: Sharecast
The asset being sold comprises freehold land in South Lanarkshire, Scotland, which is leased to a battery energy storage system (BESS) and currently generates rental income of around £0.5m per year.
The site formed part of a wider renewable energy land portfolio that was independently valued by Jones Lang Lasalle at a minimum of £27m in July last year.
Hargreaves said the asset itself accounted for £6.4m of that valuation, meaning the agreed £6.8m sale price represented a 6% premium to the independent assessment.
The company said it expected the transaction to generate a one-off net benefit of around £5.3m to profit before tax and £6m in cash for the financial year ending 31 May.
Completion was expected by 30 April.
Chair Roger McDowell said the deal marked further progress in executing the group’s strategy to unlock value from its renewable energy land portfolio.
“We are delighted to announce this second transaction in relation to our portfolio of renewable energy land assets,” he said.
“The sale further demonstrates the ability of the group to realise material value from existing assets.
“This gives us greater flexibility to invest in opportunities that either support sustainable long term value creation or alternatively to return cash to shareholders.”
At 0956 GMT, shares in Hargreaves Services were up 2.34% at 788p.
Reporting by Josh White for Sharecast.com.