Conygar Investment profits from Anglesey brownfield site sale

Conygar Investment Co PLC on Monday said it has exchanged contracts to sell its Anglesey, Wales based brownfield land holding to Stena Line (UK) Ltd subsidiary, Rhosgoch Property Ltd.

Shares in the London-based property developer climbed 25% to 31.80 pence on Monday afternoon in London.

The sale, which is worth £18.5 million, will see the net proceeds of £18.3 million utilised for full repayment of the company’s £5.6 million ASK Partners loan secured against the 36 acre Island Quarter site in Nottingham City Centre.

The remaining cash, said Conygar, is earmarked for a mix of working capital and ongoing capital related purposes, ‘primarily at The Island Quarter.’

The deal sees Conygar secure £15.8 million in profit based on March 2025 accounts valuation of £2.4 million, it said.

‘We are delighted to have completed the sale of this asset to Stena and to continue our strong working relationship with them,’ said Property Director Freddie Jones.

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