2nd Oct 2015 14:13
LONDON (Alliance News) - The Conygar Investment Company PLC said Friday it has acquired a 9.96 acre development site at Cross Hands, South Wales, from Sainsbury's Supermarkets Ltd, part of J Sainsbury PLC
The company said the site has the benefit of a detailed planning consent for a 90,792 gross square foot food store, with a six pump petrol filling station and 495 car spaces. It did not disclose financial details of the acquisition.
"We are well aware of the constraints and the time it takes in the current planning framework in order to gain consents of this size and then to put in place all the necessary enabling infrastructure, so to acquire as it were an 'oven ready' development site is we believe an attractive proposition," said Chief Executive Officer Robert Ware in a statement.
Shares in Conygar Investment were flat at 166.50 pence Friday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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Related Shares:
Sainsbury'sConygar Inv