UK property investor Conygar Investment is selling its development land and adjoining seabed at Holyhead Waterfront, along with its land at Parc Cybi, both located in Anglesey to Stena Line Ports.
Conygar said it will use £3m (€5.6m) of the £6.6m net proceeds from the sale to partially repay its Barclays development loan for the Winfield Court student accommodation in Nottingham, with the remaining balance supporting general operations.
Conygar expects the transaction to generate a £6.22m profit for the group this year, with the Parc Cybi land having cost £380,000 and the Holyhead land having a nil book value, following a £5m write-down in 2023.
Robert Ware, chief executive of Conygar, said: “We are delighted to have completed the sale of these assets to Stena who, in addition to operating the ferry port, are themselves instrumental in the ongoing development of Prosperity Park and the wider freeport throughout Anglesey.”
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