LONDON (ShareCast) - Property investment and development group Conygar Investment Company (Conygar), has reported that contracts have been exchanged with Marston's Property Developments for the sale of 0.7 acres for a public house.

The new Marston's family pub and restaurant will be built as part of Conygar's Martello Quays development at Pembroke Dock, Pembrokeshire, after planning consent has been obtained and other site-related conditions satisfied, the company said.

Marston said that it intended to submit the planning application as soon as possible for a 150-seat public house and restaurant, suitable for families and local residents.

Robert Ware, Chief Executive Officer of Conygar, said: "We are delighted to be bringing Marston's to the first phase of our development at Martello Quays. We look forward to bringing other commercial operators to the rest of the site in the coming months."

Steve Roberts, Head of Acquisitions at Marston's, added: "Marston's is committed to providing new, quality pub-restaurants across the UK and is delighted to be working with Conygar at the Pembroke Dock site. Our new pubs create significant levels of employment and offer real hubs for locals and visitors to the area to dine, meet and socialise."

Conygar Investment Company’s share price was up 3.15% to 114.50p at 10:33 on Wednesday.

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