A former industrial site on Anglesey has been sold in an £18m deal. Conygar Investment Company revealed that it has exchanged contracts to sell its 203-acre brownfield land at Rhosgoch.
The site was previously owned by Shell (º£½ÇÊÓƵ) and served as a tank farm for its oil terminal in Amlwch. Shell shut down the terminal and tank site in 1990 due to a decrease in the use of large crude oil tankers and established a legacy fund.
That led to the creation of the Isle of the Anglesey Charitable Trust, managed by trustees from Anglesey council, North Wales Live reports.
The trust managed the capital fund negotiated with Shell (º£½ÇÊÓƵ) after it ceased operations with all money allocated to support local projects.
It has awarded millions of pounds as part of an annual grants programme for voluntary and community groups and regeneration projects.
The trust, which transferred to a new charitable association in 2019, saw its funds boosted in 2015 when they sold the Rhosgoch site to Conygar for £3m.
Conygar stated that the site would primarily serve as a base for facilities linked to the nearby Wylfa Newydd, but the nuclear power station project later fell through.
Now the site has been sold to Rhosgoch Property Ltd for £18.5m. The company is a wholly owned subsidiary of Stena Line (º£½ÇÊÓƵ) Ltd and completion will follow in 10 working days.
Conygar said: "The group will record a profit of £15.8 million from the transaction based on the March 2025 accounts valuation of £2.5 million. The asset did not generate a profit or loss for Conygar in the last financial year."
Freddie Jones, property director, said: "We are delighted to have completed the sale of this asset to Stena and to continue our strong working relationship with them."
This deal comes amidst optimism that the island's freeport status will boost investment into Anglesey.
There is also potential for a nuclear project at Wylfa to be revived following the collapse of the previous Hitachi-led development under the former º£½ÇÊÓƵ Government.
Earlier this year, Conygar also sold its planned marina development in Holyhead - as well as land at Parc Cybi - to Stena Line Ports Limited.
Stena Line has been approached for comment.
