The Conygar Investment Company has finalised an unconditional agreement to sell its 203-acre brownfield site at Rhosgoch, Anglesey, to Rhosgoch Property Ltd, a subsidiary of Stena Line (UK) Ltd. Completion is expected within ten working days.
The £18.5 million sale will generate net proceeds of £18.3 million. Conygar will use part of the funds to fully repay its £5.6 million loan with ASK Partners, which was secured against its 36-acre Island Quarter development in Nottingham city centre. The remainder will support the company’s operations and working capital requirements, with a focus on advancing work at The Island Quarter.
Based on the site’s March 2025 valuation of £2.5 million, the transaction will deliver a profit of £15.8 million. The Rhosgoch site did not contribute to Conygar’s earnings in the previous financial year. Freddie Jones, Property Director, commented: “We are delighted to have completed the sale of this asset to Stena and to continue our strong working relationship with them.”
