Completion of sale of land at Rhosgoch
The Conygar Investment Company PLC has completed the sale of its land holding at Rhosgoch in Anglesey to Rhosgoch Property Ltd, a Stena Line (UK) Ltd subsidiary, for £18.5 million. This strategic divestment resulted in a substantial profit of £15.8 million for the Group, calculated against a March 2025 valuation of £2.5 million. Proceeds from the sale were utilized to repay a £5.6 million ASK Partners loan, thereby rendering the 36-acre Island Quarter site in Nottingham City Centre unencumbered. The remaining cash will bolster the Group's ongoing operations and working capital, primarily supporting The Island Quarter, indicating a strengthened financial position and enhanced liquidity.
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Sale of land at Rhosgoch
The Conygar Investment Company PLC ('Conygar') announces that it has completed the sale of its land holding at Rhosgoch in Anglesey to Rhosgoch Property Ltd, a wholly owned subsidiary of Stena Line (UK) Ltd for £18.5 million.
As a result, the company has repaid the £5.6 million ASK Partners loan secured against the 36 acre Island Quarter site in Nottingham City Centre, leaving the development land unencumbered. 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.
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. We now look forward to advancing our other operations."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.