Planning consent achieved for Fishguard (5081B)

TIDMCIC

RNS Number : 5081B

Conygar Investment Company PLC(The)

17 April 2012

17 April 2012

THE CONYGAR INVESTMENT COMPANY PLC

PLANNING CONSENT ACHIEVED FOR FISHGUARD WATERFRONT DEVELOPMENT

The Conygar Investment Company PLC ("Conygar") announces that it has been granted outline planning permission for its mixed-use marina development at Fishguard, West Wales.

The main elements of the scheme include a 450 berth marina with workshops, stores and ancillary facilities; 253 new residential apartments and a 19 acre platform for the potential expansion of the existing Stena Line port. The scheme will also create a new publicly-accessible promenade, public slipway and Visitor Centre.

While plans for the Visitor Centre are still under discussion it is envisaged the centre could incorporate a Marine Aquarium, Seal Hospital and marine heritage and wildlife exhibits along with a new public slipway with an associated parking and viewing area.

The resolution to grant planning permission is subject to a number of usual planning conditions and the signing of a S.106 agreement.

Robert Ware, Chief Executive of Conygar, commented:

"We are delighted that Pembrokeshire County Council has resolved to grant planning permission for our marina development at Fishguard. This now gives us the confidence to push ahead with preparing detailed proposals during the course of which we will continue to consult with all relevant parties and address any remaining issues that may still be of concern.

As a consequence of discussions with Sea Trust, a local community conservation group, and other stakeholders, our detailed planning submissions will incorporate a Landmark Visitor Centre with associated parking for cars and coaches, which we believe will attract significant numbers of all year round visitors including those travelling to and from Ireland."

Ian Davies, Route Director for Stena Line at Fishguard said:

"Stena Line welcomes the outline planning approval of these exciting projects and the prospective benefits that it could bring for local regeneration, tourism and job creation. We will be working closely now with partners and interested parties to hopefully bring fruition the potential benefits."

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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