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.

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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 property investment and development company primarily dealing in United Kingdom property. Its principal activity includes property trading, property investment, acquiring property assets with development and investment potential, and investing in companies with property assets. The Company focuses to invest in property assets and companies where it can add value using its property management, development and transaction structuring skills. It operates in two segments: Investment properties, which are owned or leased by the Company for long-term income and for capital appreciation, and trading properties, which are owned or leased with the intention to sell and Development properties, which include sites, developments in the course of construction and sites available for sale. In July 2014, the Company acquired a multi-let freehold industrial site, Mochdre Commerce Park located at Colwyn Bay, North Wales. more »

Share Price (AIM)
173p
Change
3.0  1.8%
P/E (fwd)
37.8
Yield (fwd)
1.1
Mkt Cap (£m)
145.9

J Sainsbury plc is engaged in grocery and related retailing. The Company is organized into three segments: Retailing (Supermarkets and Convenience); Financial services (Sainsbury’s Bank joint venture), and Property investments (The British Land Company PLC joint venture and Land Securities PLC joint venture). As of March 17, 2012, the Company operated over 1,000 stores comprising 572 supermarkets and 440 convenience stores. Investment properties held by the Company are those contained within its joint ventures with Land Securities Group PLC and The British Land Company PLC. In October 2011, the Company acquired online entertainment company, Global Media Vault Limited.Effective January 31, 2014, J Sainsbury PLC acquired the remaining 50% interest in Sainsbury's Bank PLC. Effective August 07, 2014, J Sainsbury PLC acquired a remaining 36% interest in Anobii Ltd. more »

Share Price (Full)
307.1p
Change
0.2  0.1%
P/E (fwd)
10.3
Yield (fwd)
5.4
Mkt Cap (£m)
5,871



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