Conygar deal with Sainsbury’s brings momentum to Haverfordwest development

Wednesday, Nov 02 2011 by
1
Conygar deal with Sainsburys brings momentum to Haverfordwest development

Real estate investment group Conygar Investment Company (LON:CIC) has exchanged contracts with supermarket group J Sainsbury (LON:SBRY) for the sale of nine acres for a new store on its 93 acre development site at Haverfordwest, Pembrokeshire, subject to the obtaining of a suitable planning consent. Conygar intends to submit a planning application early next year for a retail food store comprising 60,000 square feet of sales floor space, restaurant, 500 space car park and filling station. The planned application will also include design proposals for approximately 800 residential plots on the site including much needed affordable housing.

Conygar said it believed that the potential arrival of Sainsbury’s, as a quality food retailer, would widen the offer in the locality. An exhibition of the joint proposal will be held on the 18th and 19th November 2011 to gain input from local people which could be included in the application.

Robert Ware, the chief executive of Conygar, said: “We are delighted to be working with Sainsbury's to present these plans for Haverfordwest. We believe that the proposal for housing and the Sainsbury's store can work well together and should bring considerable benefits for the community.”

Conygar purchased the Haverfordwest development site in November 2010 for £14 million. The land lies close to the town centre and originally had outline planning consent for 900 residential units. In an interview with Stockopedia in June this year, Robert Ware said the company had seen an opportunity for good returns from the project over the medium term in anticipation of house builders returning to the market to buy up land inventories.

Last month Conygar said it was preparing to submit a planning application to Pembrokeshire County Council for a mixed-use marina development at Goodwick, Fishguard in West Wales. Together with the current port operator Stena Line Ports Ltd, Conygar is proposing a major development of the waterside project, including a marina, residential and retail developments and an extension to the existing Stena Line port facilities.


Filed Under: Real Estate Operations,

Disclaimer:  

As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested. Conygar Investment Co is a corporate sponsor of Stockopedia and, while we always endeavour to be objective, any views expressed above may not be impartial.


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The Conygar Investment Company PLC is a United Kingdom-based property investment and development company. The Company's principal activity is property trading, property investment, acquiring property assets with development and investment potential, and investing in companies with significant property assets. Its segments include Investment properties and Development properties. Its Investment properties are owned or leased by the Company for long-term income and for capital appreciation, and its trading properties are owned or leased with the intention to sell. Its Development properties include sites, developments in the course of construction and sites available for sale. Its development projects and investment properties under construction are Haverfordwest; HolyheadWaterfront; Parc Cybi Business Park, Holyhead; Rhosgoch; FishguardWaterfront; Fishguard Lorry Stop and Distribution Facility; Pembroke DockWaterfront; Llandudno Junction; Cross Hands, and King's Lynn, Norfolk. more »

LSE Price
157.5p
Change
 
Mkt Cap (£m)
121.6
P/E (fwd)
43.8
Yield (fwd)
0.9

J Sainsbury plc is engaged in grocery-related retailing and retail banking. The Company's segments include Retailing; Financial services, and Property investments. The Retailing segment is engaged in the operation of supermarkets and convenience. The Financial services segment includes the operations of Sainsbury's Bank plc (Sainsbury's Bank). The Property investments segment includes the Company's joint ventures with the British Land Company PLC and Land Securities Group PLC. The Company has approximately 2,000 food suppliers and over 1,000 non-food suppliers. The Company offers over 15,000 own-brand products and has approximately 770 convenience stores. The Company offers groceries under various categories, such as fruit and veg, meat and fish, dairy, chilled, bakery, frozen, food cupboard, drinks, health and beauty, baby, household, pet and home. Sainsbury's Bank provides a range of products, including insurances, credit cards, savings and loans. more »

LSE Price
241.5p
Change
 
Mkt Cap (£m)
4,650
P/E (fwd)
11.4
Yield (fwd)
4.5
88



  Is Conygar Investment Co fundamentally strong or weak? Find out More »


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