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Conygar Investments - Key planning permission granted

August 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CIC
  • Price:
  • 136p
My main write-up on Conygar in February noted that its 36-acre Island Quarter site in the centre of Nottingham could one day be worth £1-£1.5 billion once all planning permissions have been achieved and the site is fully built out. That compares with its current market value of just £81m. I was therefore pleased to learn that on 24th May Conygar announced planning permission had been achieved for phase 3, comprising 247 build to rent apartments, 223 hotel rooms, 400 co-working desks and a food and beverage provision. Funding is a crucial aspect with large ambitious projects and interestingly, on 16th June it said it was investigating raising debt finance, which could include a zero preference share, an interest bearing loan o ...

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