Fishguard planning application (4238Q)
October 19 2011 - 1:00AM
UK Regulatory
TIDMCIC
RNS Number : 4238Q
Conygar Investment Company PLC(The)
19 October 2011
19 October 2011
THE CONYGAR INVESTMENT COMPANY PLC
FISHGUARD WATERFRONT DEVELOPMENT PLANNING APPLICATION
The Conygar Investment Company PLC ("Conygar"), in conjunction
with Stena Line Ports Limited ("Stena Line"), is pleased to
announce that it is submitting this week a planning application to
Pembrokeshire County Council for a mixed-use marina development at
Goodwick, Fishguard in West Wales.
The main elements of the scheme include a 450 berth marina with
workshops, stores and ancillary facilities; 253 new residential
apartments incorporating extensive landscaped gardens and a 19 acre
platform for the potential expansion of the existing Stena Line
port. The scheme would also create a new, publicly-accessible
promenade and waterfront, together with visitor parking.
Both Conygar and Stena Line believe that this exciting
regeneration scheme will be a major boost to the economy of the
area, creating an exciting visitor destination together with much
needed employment opportunities. The granting of a planning consent
will allow for a re-configuration and expansion of the port
facilities to deliver further economic and commercial benefits and
reaffirm the Stena Line commitment to ensuring Fishguard remains a
thriving port. The end value of the development is expected to be
in excess of GBP100 million.
The Crown Estate, owners of the sea bed, and Pembrokeshire
County Council who own much of the surrounding harbour area, have
welcomed the proposals and Neil Jacobson, Head of Coastal
Operations, said:
"The proposed redevelopment would bring considerable long-term
economic benefit to the area and we are pleased that this exciting
proposal has been submitted to the County Council for
consideration."
Robert Ware, Chief Executive of Conygar, commented:
"We are delighted to be working closely with Stena Line and
extremely pleased by the support shown by both The Crown Estate and
Pembrokeshire County Council. This exciting proposal will transform
the area and bring significant benefits to the town and region as a
whole. Clearly we expect a complex scheme of this nature to receive
considerable scrutiny and the forthcoming planning process will
undoubtedly result in a comprehensive assessment of the proposals,
but we are hopeful the scheme will receive the backing we believe
it deserves."
Michael McGrath, Stena Line Area Director, Irish Sea
commented:
"We look forward to working with all the relevant parties
concerned to move these projects forward which are critical to our
business and the local economy."
Councillor John Davies, Leader of Pembrokeshire County Council
said:
"The operation of Fishguard Harbour is central to the economy of
the whole of the north of Pembrokeshire. There is no doubt that
development is needed in order to secure the future of the
ferryport and to provide and sustain jobs for the area. We look
forward to receiving the proposals from Conygar and Stena. It is
heartening that in these difficult financial times, major companies
of this sort have sufficient confidence in Pembrokeshire to come
forward with this sort of investment."
Enquiries:
The Conygar Investment Company PLC
Robert Ware: 020 7258 8670
Peter Batchelor: 020 7258 8670
Oriel Securities Limited (Nominated Adviser and Broker)
Michael Shaw: 020 7710 7600
Neil Langford: 020 7710 7600
Temple Bar Advisory (Public Relations)
Alex Child-Villiers: 07795 425580
This information is provided by RNS
The company news service from the London Stock Exchange
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