REG - Conygar Investmnt Co - Sale of Virgin Active gym at The Island Quarter

Conygar Investment CoAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250819:nRSS7954Va&default-theme=true

RNS Number : 7954V  Conygar Investment Company PLC(The)  19 August 2025

 

 

 19 August 2025

THE CONYGAR INVESTMENT COMPANY PLC

Sale of Virgin Active gym

at The Island Quarter, Nottingham

The Conygar Investment Company PLC ('Conygar') announces that it has
unconditionally exchanged contracts to sell the site occupied by the Virgin
Active gym at The Island Quarter, Nottingham to Monoprop Limited, a property
investment company. Completion will follow in one month's time.

The sale price is £6.75 million in cash and the net proceeds will be used to
partly repay the £12 million ASK Partners loan secured against the wider
site.

The Group will record a loss of £750,000 from the transaction based on the
March 2025 accounts valuation of £7.5 million. For the year ended 30
September 2024, the holding company of the Virgin Active gym recorded a net
loss of £67k (inclusive of interest paid on the ASK Partners loan).

Christopher Ware, Managing Director of Conygar, commented:

"This sale represents a good piece of asset management for the team having
purchased the long leasehold interest for £5.90 million in May 2024 and we
look forward to progressing other areas of the site in the near future."

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

Christopher Ware: 020 7258 8670

Panmure Liberum (Nominated Adviser and Broker)

Chris Clarke / Jamie Richards: 020 3100 2185

Temple Bar Advisory (Public Relations)

Alex Child-Villiers: 07795 425580

Sam Livingstone: 07769 655437

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISGZGMRNRDGKZM