(Alliance News) - Conygar Investment Co PLC on Monday said that it has agreed to dispose of its development site at Haverfordwest in Pembrokeshire for gross proceeds of GBP9.7 million.

The property investor and developer will sell to The Welsh Ministers and POBL Homes and Communities Ltd. The sale is for net cash proceeds of GBP9.6 million, resulting in a profit over carrying value of GBP200,000.

Conygar said it would use the proceeds to further its mixed-use development at The Island Quarter in Nottingham.

"We are delighted to have agreed the sale of Haverfordwest, as part of our plan to focus our resources on those areas where we expect to see the greatest returns for our shareholders," said Director Freddie Jones.

Conygar Investment shares were trading 0.3% higher at 124.83 pence each in London on Monday morning.

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.