Real estate investor Conygar Investment Company (LON:CIC) will this week 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. Conygar acquired the right to develop a marina in Fishguard in 2008 and last year the asset was valued a £350,000. The company said today that the end value of the completed project could be £100 million. The Crown Estate, owners of the sea bed, and Pembrokeshire County Council, which owns much of the surrounding harbour area, have welcomed the proposals.

The main elements of the scheme include a 450 berth marina with workshops, stores and ancillary facilities; 253 new residential apartments incorporating extensive landscaped gardens and a 19 acre platform for the potential expansion of the existing Stena Line port. The scheme would also create a new, publicly-accessible promenade and waterfront, together with visitor parking.

Conygar and Stena Line said that the regeneration scheme would be a major boost to the economy of the area, creating an exciting visitor destination together with much needed employment opportunities. The granting of a planning consent will allow for a re-configuration and expansion of the port facilities to deliver further economic and commercial benefits and reaffirm the Stena Line commitment to ensuring Fishguard remains a thriving port. The end value of the development is expected to be in excess of £100 million.

Robert Ware, the chief executive of Conygar, said: “We are delighted to be working closely with Stena Line and extremely pleased by the support shown by both The Crown Estate and Pembrokeshire County Council. This exciting proposal will transform the area and bring significant benefits to the town and region as a whole. Clearly we expect a complex scheme of this nature to receive considerable scrutiny and the forthcoming planning process will undoubtedly result in a comprehensive assessment of the proposals, but we are hopeful the scheme will receive the backing we believe it deserves.”

In an audio interview with Stockopedia earlier this Summer, Robert Ware said Conygar was planning to complete the marina planning for its…

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