Conygar Investment agrees to forward-sell Anglesey hotel

Property investment and development group, Conygar Investment Company, has exchanged contracts to forward-sell its 80-bedroom hotel at Parc Ciby in Anglesey to IM Properties, inn a deal that will see it pocket £6.9m. The hotel is currently under construction and once built, will be subject to a 25-year lease with Premier Inn Hotels. Proceeds from the sale represent a net initial yield of 4.7% and construction of the hotel is expected to complete at the end of next year. Chief executive Robert ...

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