Livestock Market site, Louth
We are reviewing our position in respect of the sale of the Livestock Market site in Louth after the receipt of a revised offer from ASDA Stores Ltd.
Following a marketing exercise, in July 2014 we agreed to accept a bid, subject to contract and planning, from McLagan Investments Ltd, care of ASDA Stores Ltd, for the development of a supermarket, filling station and three retail units on the site. At the same time, subject to the sale being concluded, we agreed to build a new Livestock Market facility in the town.
Recent months have seen a review of trading conditions by many major retailers and in line with this, we were recently invited to meet with representatives of ASDA in respect of the Louth site. Following that meeting ASDA has now stated that it wishes for us to consider a revised offer for the site. Both the original offer and revised offer remain commercially confidential at this time.
In December, 2014, Architects were appointed to work with us and the existing Auctioneers to develop initial plans for a new Livestock Market on the Fairfield Industrial Estate. As this work is under contract at a value of £3,000 it is our intention that the work on the plans continue to completion.