Conygar Investment Company PLC(The) Acquisition of Development Site at Cross Hands (1165B)
October 02 2015 - 10:00AM
UK Regulatory
TIDMCIC
RNS Number : 1165B
Conygar Investment Company PLC(The)
02 October 2015
For immediate release
2 October 2015
THE CONYGAR INVESTMENT COMPANY PLC
ACQUISITION OF DEVELOPMENT SITE AT CROSS HANDS,
CARMARTHENSHIRE
The Conygar Investment Company PLC ("Conygar" or the "Company"),
the property investment development group, announces that it has
acquired from Sainsbury's Supermarkets Limited a 9.96 acre freehold
serviced development site at Cross Hands, South Wales, which has
the benefit of a detailed planning consent for a 90,792 gross sq.
ft. food store with a 6 pump Petrol Filling Station and 495 car
parking spaces.
The site is located in a prominent location with frontage to the
A48 (M) - the continuation of the M4 motorway some 16 miles west of
Swansea and forms part of a wider comprehensive re-development area
of approximately 50 acres which includes a residential development
of 240 new homes.
Robert Ware, CEO of Conygar commented:
"We are well aware of the constraints and the time it takes in
the current planning framework in order to gain consents of this
size and then to put in place all the necessary enabling
infrastructure so to acquire as it were an "oven ready" development
site is we believe an attractive proposition.
We have already identified occupier demand for a mixed retail
scheme which we will now pursue and work towards submitting a
revised planning application as soon as possible."
Enquiries:
The Conygar Investment Company PLC
Robert Ware: 020 7258 8670
Liberum Capital Limited (Nominated Adviser and Broker)
Richard Bootle: 020 3100 2222
Temple Bar Advisory (Public Relations)
Alex Child-Villiers: 07795 425580
This information is provided by RNS
The company news service from the London Stock Exchange
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