Business
Sale of Holyhead Waterfront and Parc Cybi
Sale of Holyhead Waterfront and Parc Cybi.
About this update from Conygar Investment Company Plc
[{"type":"text","content":"\n\n \n \n 24 March 2025\nTHE CONYGAR INVESTMENT COMPANY PLC\nSale of Holyhead Waterfront and Parc Cybi \n \nThe Conygar Investment Company PLC (\"Conygar\" or the \"Group\"), the property investment and development group, announces that it has unconditionally exchanged contracts to sell its development land and adjoining seabed at Holyhead Waterfront (\"Holyhead\") in addition to its land at Parc Cybi, both in Anglesey, to Stena Line Ports Limited (\"Stena\"). Completion is contracted to occur on 28 March 2025. \nThe net proceeds of £6.60 million after sale costs will be utilised partly to repay £3.0 million of the Barclays development loan, provided in connection with the Winfield Court student accommodation at The Island Quarter in Nottingham. The balance will be utilised to support the ongoing operations of the Group.\nThe Group will realise a profit this year from the transaction of £6.22 million. The land cost of Parc Cybi is £0.38 million and that of Holyhead is £nil having been written down by £5 million in 2023.\nRobert Ware, Chief Executive of Conygar, commented:\n\"We are delighted to have completed the sale of these assets to Stena who, in addition to operating the ferry port, are themselves instrumental in the ongoing development of Prosperity Park and the wider freeport throughout Anglesey.\"\n \nThe information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.\n \nEnquiries:\nThe Conygar Investment Company PLC\nRobert Ware, Freddie Jones: 020 7258 8670\nPanmure Liberum Limited (nominated adviser and broker)\nChris Clarke, Jamie Richards: 020 3100 2000\nTemple Bar Advisory (public relations)\nAlex Child-Villiers: 07795 425580\nSam Livingstone: 07769 655437 \n\n","length":3099,"tagName":"div"}]