LONDON (AFX) - Conygar Investment Company PLC said it has acquired 50 pct of
Martello Quays Ltd for a nominal sum.
Martello, which is a partnership between Conygar, Welsh based developers and
Vinci Project Development Ltd, a Vinci PLC subsidiary, has been appointed as
preferred developer by a client group made up of Pembrokeshire County Council,
the Welsh Development Agency, the Crown Estate and The Milford Haven Port
Authority to obtain planning permission and develop an area known as Pembroke
Dock Waterfront.
Conygar said the development will submit planning next year to include
houses, apartments, retail outlets, marina berths and car parking.
Conygar has committed to fund the planning application costs which will be
met from existing resources and which are anticipated not to exceed 350,000 stg.
Assuming the planning application is successful, it is anticipated that the
completed development will have an end value estimated to be over 100 mln stg.
newsdesk@afxnews.com
slm/
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News content, including by
framing or similar means, is expressly prohibited without the prior written
consent of AFX News.
AFX News and the AFX Financial News logo are registered trademarks of AFX News
Limited
|