Disposal

RNS Number : 6770R

Conygar Investment Company PLC(The)

04 March 2019

 

For immediate release

4 March 2019

THE CONYGAR INVESTMENT COMPANY PLC

COMPLETION OF SALE OF PREMIER INN AT PARC CYBI, ANGLESEY

The Conygar Investment Company PLC ("Conygar" or the "Group"), the property investment and development group, announces that it has completed the sale of its 80-bedroom hotel at Parc Cybi, on the outskirts of Holyhead, Anglesey. The hotel is subject to a 25 year lease with Premier Inn Hotels Limited. Conygar has received net proceeds of £6.9 million, which represents a net initial yield of 4.7%. 

Robert Ware, Chief Executive of Conygar commented:

"We are pleased to have completed the sale of this development project on schedule. The funds generated by this disposal will be recycled within the Group and used in future acquisitions or the development pipeline."

Enquiries:

The Conygar Investment Company PLC

Robert Ware: 020 7258 8670

Ross McCaskill: 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

 

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