REG - Conygar Investmnt Co - Sale of Cross Hands Retail Park

Conygar Investment CoAnnouncement

10/02/2022 07:00

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RNS Number : 2228B  Conygar Investment Company PLC(The)  10 February 2022

10 February 2022

 

THE CONYGAR INVESTMENT COMPANY PLC

 

(THE "COMPANY")

 

Sale of Cross Hands retail park

 

The Conygar Investment Company PLC ("Conygar"), the property investment and
development group, announces that it has completed the disposal of its retail
park in Cross Hands, Llanelli for a net consideration of £18.25 million.
The net proceeds are expected to be utilised in progression of the Company's
development at The Island Quarter site in Nottingham.

 

Freddie Jones, Director at Conygar said "We are delighted to have exited our
retail park development. Since we purchased the 10-acre site in 2015 we have
constructed and fully let the 92,000 sqft scheme to leading operators
including Lidl, B and M Retail, Iceland's Food Warehouse, Costa Coffee and
Pets at Home with annual net rental income of £1.3 million. The sale is at a
£0.5 million premium to the September 2021 year end valuation which
reiterates our strategy of selling completed developments."

 

The information contained within this announcement is deemed by the Group to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018.

 

Enquiries:

 

The Conygar Investment Company PLC

Robert Ware/Freddie Jones
 
 
020 7258 8670

 

Liberum Capital Limited (Nominated Adviser and Broker)

Richard Lindley/Jamie Richards/Edward Phillips
                                               020
3100 2222

 

Temple Bar Advisory (Public Relations)

Alex
Child-Villiers
                           07795 425580

Will Barker
 
                                      07827 960151

 

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