Sale of land at Rhosgoch
The Conygar Investment Company PLC announced the unconditional exchange of contracts for the sale of its 203-acre brownfield land holding at Rhosgoch in Anglesey to Rhosgoch Property Ltd, a wholly-owned subsidiary of Stena Line (UK) Ltd. The sale price is £18.5 million in cash, with net proceeds of £18.3 million. Conygar intends to use £5.6 million of these proceeds to fully repay the ASK Partners loan secured against the 36-acre Island Quarter site in Nottingham City Centre. The remaining cash will support the Group's operations and working capital, primarily at The Island Quarter. Conygar anticipates recording a profit of £15.8 million from this transaction, based on the March 2025 accounts valuation of £2.5 million.
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The Conygar Investment Company PLC ('Conygar') announces that it has unconditionally exchanged contracts to sell its 203 acre brownfield land holding at Rhosgoch in Anglesey to Rhosgoch Property Ltd, a wholly owned subsidiary of Stena Line (UK) Ltd. Completion will follow in 10 working days.
The sale price is £18.5 million in cash and the net proceeds of £18.3 million will be used to fully repay the £5.6 million ASK Partners loan secured against the 36 acre Island Quarter site in Nottingham City Centre. The remaining cash will be used for the Group's ongoing operations and working capital, primarily at The Island Quarter. The Group will record a profit of £15.8 million from the transaction based on the March 2025 accounts valuation of £2.5 million. The asset did not generate a profit or loss for Conygar in the last financial year.
Freddie Jones, Property Director commented:
"We are delighted to have completed the sale of this asset to Stena and to continue our strong working relationship with them".
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.