Anglesey Premier Inn sold for £7m

Conygar Investment Company has completed the sale of a recently-opened hotel at Holyhead to IM Properties for £6.9m, reflecting a net initial yield of 4.7%.

Built by Triton Construction, the 80-bedroom hotel is the first Premier Inn on Anglesey.

The hotel is part of Parc Cybi, a 120-acre business park being brought forward by Conygar as part of the Anglesey Enterprise Zone. The wider site also has consent for a 30,000 sq ft office scheme and 109,000 sq ft of logistics warehouses.

Premier Inn has a 25-year lease on the building and opened the hotel last month.

Robert Ware, chief executive of Conygar, said: “We are pleased to have completed the sale of this development project on schedule. The funds generated by this disposal will be recycled within the Group and used in future acquisitions or the  development pipeline.”

Your Comments

Read our comments policy

Related Articles

Sign up to receive the Place Daily Briefing

Join more than 13,000 property professionals and receive your free daily round-up of built environment news direct to your inbox

Subscribe

Join more than 13,000 property professionals and sign up to receive your free daily round-up of built environment news direct to your inbox.

By subscribing, you are agreeing to our Terms & Conditions and Privacy Policy.

"*" indicates required fields

Your Job Field*
Other regional Publications - select below