Exciting news from Anglesey! A colossal former industrial site in Rhosgoch has been snapped up in an impressive £18.5 million deal. This 203-acre piece of land, once the stomping ground for Shell’s oil operations, is now owned by Rhosgoch Property Ltd, a branch of Stena Line (UK) Ltd. The purchase price is a far cry from the £3 million paid by Conygar back in 2015.
The site’s sale is particularly significant against the backdrop of Anglesey’s new freeport status, which is expected to draw even more investment to the island. While plans for a nuclear power station at Wylfa fell through, there’s chatter about a potential revival, making this a buzzy time for local developments.
Over the years, the site has had quite the journey. After Shell shut down operations in 1990, a legacy fund was set up to benefit the Isle of Anglesey Charitable Trust. This trust has generously supported local projects with millions in grants. Now, with the sale to Stena, the next chapter begins.
Conygar is quite pleased with the transaction, with Property Director Freddie Jones highlighting their ongoing strong relationship with Stena. While this land didn’t bring profits to Conygar last year, it now promises a whopping £15.8 million gain.
Could this be the boost Anglesey needs to revamp the Wylfa nuclear project and spark further economic development? Stay tuned!