Planning Permission for Parc

RNS Number : 4892L

Conygar Investment Company PLC(The)

06 May 2010

 



6 May 2010

The Conygar Investment Company PLC

Planning Permission for Parc Cybi Development in Holyhead is Received

The Conygar Investment Company PLC ("Conygar") is pleased to announce that Anglesey Council's planning committee has approved the application for the Parc Cybi development in Holyhead.  The application, which was deferred last month due to a technicality, went before the planning committee yesterday, 5 May 2010, with a recommendation for approval from officers.

Conygar's Parc Cybi development will comprise circa 30,000 sq ft of offices and 100,000 sq ft of warehousing and distribution units for the logistics industry.  Parc Cybi is a 120 acre site developed by the Welsh Assembly Government to help counter the effects of the closure of Wylfa Nuclear Power Station and the end of smelting at Anglesey Aluminium.  Peter Hain, Secretary of State for Wales, welcomed redevelopment plans in Holyhead in February this year.

Holyhead is the second biggest trailer port in the UK with over 350,000 crossings per annum.  It is the UK's third largest car ferry port and, unlike all other major UK ports, has no distribution, warehousing or cold storage facilities for the logistic industry using it.  Users on both sides of the Irish Sea will benefit from these facilities, at a rental level that would probably be less than half of that paid in Dublin and a significant discount to other locations in the UK.

Conygar believes that the logistics centre would create 450 warehouse, distribution and office jobs and will be the catalyst for further interest and development at Parc Cybi. Furthermore, a new nuclear power station is to be built at Wylfa on Anglesey, some ten miles away, which will involve a massive logistical exercise with a £15 billion project involving 5000 construction jobs.  Conygar will target the contractors and suppliers to the Wylfa project, as the Parc Cybi site is not only the closest, but the only location that can provide the necessary facilities and adjoins the deepwater port of Holyhead where much of the supplies will arrive.

Robert Ware, Chief Executive of Conygar, said, "We are obviously pleased that planning consent has been granted for the development.  The next step is to secure public sector funding to enable the development to proceed and discussions will now take place with officials of the Welsh Assembly Government and the Wales European Funding Office hopefully to secure that support."

For further information please contact:

The Conygar Investment Company PLC

Robert Ware:                020 7408 2322

Peter Batchelor:            020 7408 2322

Oriel Securities limited (Nominated Adviser and Broker)

Michael Shaw:               020 7710 7600

Gareth Price:                 020 7710 7600

Temple Bar Advisory (Public Relations)

Alex Child-Villiers:        07795 425580

The directors of Conygar accept responsibility for the information contained in this announcement.  The best of the knowledge and belief of the directors of Conygar (who have taken all reasonable care to ensure that such is the case) the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

 

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