19th Aug 2016 13:58
LONDON (Alliance News) - Conygar Investment Co PLC on Friday said it has been granted detailed planning permission by Carmarthenshire County Council for its 9.96 acre development site in South West Wales.
Conygar bought the site from J Sainsbury PLC in October 2015 which at the time had consent for a 90,000 square foot store, and the company submitted a revised application for the site in April 2016.
The revised consent, which was granted on Friday, is for a 106,000 square foot retail development which will include a mixture of convenience and comparison goods outlets, together with a 562-space car park, three food outlets or restaurants and a public house.
The planned development will create the equivalent of 260 full time jobs and more than 100 during the construction phase, which Conygar said it hopes to source locally.
Construction should commence later in the year and will be funded from Conygar's existing cash resources.
"We are pleased that the plans to develop this retail park have been approved and we will work hard to ensure that construction begins as soon as possible and we can bring the project to fruition. We expect that the development will support and benefit Cross Hands, by creating jobs during the construction phase and also further employment opportunities through the attractive new retail outlets that will be created," said Chief Executive Robert Ware.
Shares in Conygar were up 4.4% at 156.00 pence on Friday afternoon.
By Hannah Boland; [email protected]; @Hannaheboland
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