Conygar prepares to submit Fishguard waterfront development plans

Wednesday, Oct 19 2011 by
Conygar prepares to submit Fishguard waterfront development plans

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 projects at Fishguard, Holyhead and Pembroke Dock by the end of the year.

Councillor John Davies, Leader of Pembrokeshire County Council, said: “The operation of Fishguard Harbour is central to the economy of the whole of the north of Pembrokeshire. There is no doubt that development is needed in order to secure the future of the ferryport and to provide and sustain jobs for the area. We look forward to receiving the proposals from Conygar and Stena. It is heartening that in these difficult financial times, major companies of this sort have sufficient confidence in Pembrokeshire to come forward with this sort of investment.”


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. ?>

Do you like this Post?
0 thumbs up
1 thumb down
Share this post with friends

The Conygar Investment Company PLC is a property investment and development company dealing primarily in the United Kingdom property. The Company's principal activity is property trading, property investment, acquiring property assets with development and investment potential, and investing in companies with property assets. Its segments include Investment properties and Development properties. Its Investment properties are owned or leased by it 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 investment property portfolio includes industrial properties, which are located in Blantyre, Kettering, Stratford Upon Avon and Witham; leisure property in Dundee; offices in Aberdeen, Ashby de la Zouch, Dundee, Warrington and Wolverhampton, and retail warehouses at Birmingham and Coventry. more »

LSE Price
Mkt Cap (£m)
P/E (fwd)
Yield (fwd)

  Is LON:CIC fundamentally strong or weak? Find out More »

What's your view on this news? Log In to Comment Now

You can track all @StockoChat comments via Twitter

About Stockopedia News

Stockopedia News

Stockopedia News Bulletins aim to report on stories and companies that are relevant to and popular with online investors.  It's a free service provided to registered users of Stockopedia. 

Stock Picking Tutorial Centre

Let’s get you setup so you get the most out of our service
Done, Let's add some stocks
Brilliant - You've created a folio! Now let's add some stocks to it.

  • Apple (AAPL)

  • Shell (RDSA)

  • Twitter (TWTR)

  • Volkswagon AG (VOK)

  • McDonalds (MCD)

  • Vodafone (VOD)

  • Barratt Homes (BDEV)

  • Microsoft (MSFT)

  • Tesco (TSCO)
Save and show me my analysis