Conygar Investment Company PLC(The) Letting at Mochdre Commercial Park (5608X)

TIDMCIC

RNS Number : 5608X

Conygar Investment Company PLC(The)

09 May 2016

[9] May 2016

THE CONYGAR INVESTMENT COMPANY PLC

Letting at Mochdre Commercial Park to Conwy County Council

The Conygar Investment Company PLC ("Conygar"), the property investment and development group, announces that it has completed the letting of 60,000 sq. ft. of industrial space and 3.2 acres of "open storage" land at Mochdre Commerce Park. The estate is strategically located in Colwyn Bay, North Wales adjoining the A55 expressway, midway between Holyhead and Chester. It comprises 191,000 sq. ft. of modern industrial units, with a combined passing rent of GBP106,000 before the letting.

The new tenant is Conwy County Council who have taken a 35-year lease, with a first break clause at year 15 and an initial rent of GBP240,000 per annum.

There is a further 80,000 sq. ft. of vacant space in which Conygar are in discussions with potential tenants.

Robert Ware, Chief Executive, commented

"We are pleased to announce this significant letting at Mochdre and are working towards getting the rest of the vacant space tenanted as soon as possible."

Enquiries:

The Conygar Investment Company PLC

Robert Ware / Ross McCaskill: 020 7258 8670

Liberum Capital Limited (Nominated Adviser and Broker)

Richard Bootle: 020 3100 2222

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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May 09, 2016 02:00 ET (06:00 GMT)