Fred Done in £5m Anglesey truck stop venture
VETERAN North West investor and entrepreneur Fred Done has agreed a £5m joint venture with London-based property developer for a truck stop at Holyhead, Anglesey.
Mr Done’s Road King venture – which he plans to expand into a national chain of high-grade truck stops – has agreed the partnership with the Conygar Investment Company to develop and operate a truck stop facility at its site at Parc Cybi.
The joint venture (Road King Holyhead) will create a 200-space truck stop and associated amenities together with 10 logistical support units on the 14 acre site.
Conygar and Road King have each committed £2.5m to the joint venture in order to fund the construction and start up of the truck stop operations.
Work is already well advanced on the detailed specification and construction process and it is hoped to be on site by the spring of 2014 with a view to the truck stop being operational by autumn of next year.
The joint venture will be fully funded by the partners out of existing cash resources although external funding may be introduced in future as appropriate.
The site will be operated by the Road King management who already own and operate the Hollies truck stop on the M6 outside of Stafford.
Road King is owned by the Done family who also own the Warrington-based Betfred betting chain, SME adviser Peninsular Business Services and a portfolio of property and other investments.
Holyhead is the country’s second busiest freight port and the truck stop will provide a much-needed facility which is not currently available. It will also be available as a logistics facility for the construction of the proposed New Wylfa nuclear power station.
Fred Done, chairman of Betfred, said:: “This development is a further expansion of the Road King brand and concept following the success of the Hollies truck stop, and I am pleased to be working with the Conygar team and believe there will be other development opportunities with them in the future.”
Robert Ware, chief executive of Conygar, added: “This is great news for Conygar and we are delighted to be working with Fred and his organisation who have the resources and expertise to make this facility a great success.”
