Conygar Investment Company PLC(The) Sale of Cross Hands Retail Park (2228B)
February 10 2022 - 1:59AM
UK Regulatory
TIDMCIC
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 GBP18.25 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 GBP1.3 million. The sale is at a GBP0.5
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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END
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