12th May 2014 08:39
LONDON (Alliance News) - The Conygar Investment Co PLC Monday said it has sold its 9.6 acre development site at Haverfordwest, Pembrokeshire to Sainsbury's Supermarkets Ltd, part of J Sainsbury PLC, in a deal worth GBP13.8 million.
Last year, the property investment and development group said Pembrokeshire County Council granted permission for 729 residential properties and a 60,000 square foot Sainsbury's retail food store with car park and petrol filling station to be constructed on the site.
Conygar said the work to construct the residential properties will commence this summer costing around GBP7.8 million.
Sainsbury's planning consent is for the 60,000 square foot retail food store with car park and petrol filling station. Details regarding the construction of the food store have not been disclosed.
Conygar shares were quoted up 8.0% at 180.95 pence Monday morning. Sainsbury shares were off 0.5% to 334.15p.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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