Sale of land at Rhosgoch

Summary by AI BETAClose X

The Conygar Investment Company PLC announced the unconditional exchange of contracts for the sale of its 203-acre brownfield land holding at Rhosgoch in Anglesey to Rhosgoch Property Ltd, a wholly-owned subsidiary of Stena Line (UK) Ltd. The sale price is £18.5 million in cash, with net proceeds of £18.3 million. Conygar intends to use £5.6 million of these proceeds to fully repay the ASK Partners loan secured against the 36-acre Island Quarter site in Nottingham City Centre. The remaining cash will support the Group's operations and working capital, primarily at The Island Quarter. Conygar anticipates recording a profit of £15.8 million from this transaction, based on the March 2025 accounts valuation of £2.5 million.

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