Conygar has exchanged contracts to sell a 203-acre brownfield site at Rhosgoch in Anglesey to Rhosgoch Property for £18.5m.
The net proceeds of the sale will be used to fully repay the £5.6m ASK Partners loan secured against the 36-acre Island Quarter site in Nottingham city centre.
The remaining cash will be used for the group’s ongoing operations and working capital, primarily at The Island Quarter.
Freddie Jones, property director at Conygar, said: “We are delighted to have completed the sale of this asset to Stena and to continue our strong working relationship with them.”
Rhosgoch Property is a wholly-owned subsidiary of Stena Line (UK).
